Everyday, there is an interesting news about the NFT culture and how there is a new entrant into this beeline each day. The newest entrant to the league of NFT is The New York Times. With a history as old as 170 years, The Times converted its article titled, “Buy This Column on the Blockchain!”. This first article of the 170 year history has been reportedly sold for amount equivalent to $560,000.
Kevin Roose announced the auction for the NFT through a tweet.
In the tweet, he lured bidders to buy the first NFT in the paper’s history. His tweet read, “The NYT made a NFT! My new column is about NFTs, and I also turned the column into a NFT and put it up for auction on @withFND, with proceeds going to charity. Bid away, and you could own the first NFT in the paper’s 170-year history.”
In the column itself, Tech columnist Kevin Roose, stated, “As I watched these riches change hands, I thought to myself: Why should celebrities, athletes and artists have all the fun? Why can’t a journalist join the NFT party, too?” He continues on his column, “So I decided to turn this column into an NFT and sell it on the open market.”
What makes this NFT special, Roose states, “The biggest perk of all, of course, is owning a piece of history. This is the first article in the almost 170-year history of The Times to be distributed as an NFT … if they stick around, NFTs could transform the way digital goods are created, consumed and traded online.”
The NFT sale was held in a 24 hour auction that happened on Thursday. What actually seemed like a jibe on how people were buying arts and memes for huge amounts, they themselves sold it for a lot of money.
According to CrytoSlam, in just a past few months itself, NFTs and crypto art prices have been sold for over a billion dollars in sale proceeds. Artists, celebrities, and public figures, all converted their digital assets into hot selling properties.
Reportedly, the New York Times NFT was sold in exchange of Ether, the estimated cost of which turns out to be $560,000. The NFT as sold on Foundation, which is platform that is also accredited with the sale of the Nyan Cat meme for approx. $600,000 earlier this year.
Brands do not leave any stone un-turned in making their deal lure more purchase prospects. The NFT comprises the PNG of the article. Additionally, the purchaser will also be a recipient to a congratulatory voice memo. The voice memo will be from the host of the podcast ‘The Daily’. In the follow up article about the sale of the NFT, there will also be a feature.
The proceeds of the sale will go to charity, as most brands prefer to do their little in helping their associated foundations. The minimum price for this NFT was 800$ and who would have thought that it would sell for an unbelievable price.