Time magazine sells 3 covers in NFT format
Time magazine sells 3 covers in NFT format

Times News sold the covers of three magazines at auction for the first time, making it the latest brand to enter the field of non-refundable code (NFT).

The auction includes updated editions of the iconic 1966 and 2017 cover, as well as brand new covers that have not yet appeared in the magazine.

Hedges can be sold individually or in groups on the SuperRare cryptocurrency market. Auctions will continue until Wednesday evening.

The minimum price is 10 Ethereum coins, or about $ 18,000 per box.

NFT token relies on blockchain technology to verify if someone owns a digital artwork.

Buyers usually have limited rights to display artwork digitally, but the actual creative rights usually belong to the artist.

The token bubble burst last month, as Beeples eventually sold NFT for $ 69 million.

When the bubble burst, Pringles quickly took advantage of the hype as Pringles sold a pack of digital chips and Pizza Hut sold the digital chips.

Fast food company Taco Bell and American toilet paper brand Charmin sold and donated their NFT-branded products.

While these are all marketing companies, selling a Time magazine cover doesn't seem difficult as it is a quick way to make money and get magazine attention.

Time magazine did not say whether profits will be returned or whether they can offset the environmental impact of sales.

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