Fortune Raises Over $1.3M in Cover Art NFT Sale

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.
Read more: South China Morning Post to Mint Historical Records as NFTs