Fortune Raises Over $1.3M in Cover Art NFT Sale

The magazine auctioned a set of limited-edition NFTs of the cover of its crypto-themed August/September 2021 issue.

By Jamie Crawley

Aug 13, 2021 at 8:35 a.m. UTC

Updated Sep 14, 2021 at 1:39 p.m. UTC

Jamie Crawley

Business magazine Fortune has raised over $1.3 million in its first non-fungible token (NFT) sale.

Fortune auctioned a set of limited-edition NFTs of the cover of its crypto-themed August/September 2021 issue. The auction raised 429 ETH, the equivalent of over $1.3 million at the time of writing.
The lot sold out in a few minutes and the NFTs are fetching resale prices upwards of seven times the original listing, Fortune reported Friday.
The auction was held on NFT marketplace OpenSea, which experienced tech issues possibly as a result of the traffic experienced.
Tech editor Robert Hackett tweeted that Fortune would be donating 50% of the proceeds to non-profit organizations and holding the rest.

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