Fortune magazine NFT sales have raised more than $650,000 for journalism causes. The money was brought in through purchases of a non-fungible token series based on the publication’s recent cover. Crypto artist pplpleasr has collaborated to bring this idea to life.
In total, four platforms received an equal share. These are Reporters Without Borders, The GroundTruth Project, The Institute for Nonprofit News (INN), and The Committee to Protect Journalists. Each was awarded $165,000. This is the first stage in the Fortune Journalism PleasrFund, which accepts crypto donations and aims to pay up to $25,000 each to worthy journalism causes going forward.
More on Fortune magazine NFT Sales
Fortune hasn’t been slow to pick up on the non-fungible scene. Of course, we would expect no less given the magazine focuses on entrepreneurs, business leaders, emerging and established industries. The latest cover features art by pplpleasr, AKA Emily Yang. This relates to an in-depth story about DeFi and crypto in general.
As soon as the issue cover was ready it was converted into a series NFTs. 256 standard edition tokens were minted. Three enhanced editions were also created. The designs for the latter changed depending on whether leading crypto personalities placed a bid.
At the present time, this is one of the more innovative artistic uses we have seen for smart contracts. In this instance, they have been created in a way that delivers reactive design. Earlier this year, CNN unveiled its own NFT project. Effectively this involved minting historic moments from the news giant’s history. Meanwhile, Playboy is also in the non-fungible space.