Today’s article is going to be very interesting and a kind of new information for many people. In this article, we will discuss NFTs analysis 12m times 560kmaher pressgazette nfts.
You may not imagine how news publishers’ made hundreds of dollars by selling NFT tokens. If you hear this word for the first time don’t worry here is its complete meaning.
Analysis 12m times 560kmaher pressgazette nfts: Introduction to the keyword
NFTs stand for non-fungible. They are digital assets that represent ownership or proof of authenticity of a unique item or piece of content using blockchain technology. Unlike cryptocurrencies such as Bitcoin and Ethereum, NFTs cannot be replicated or exchanged in the same way as cryptocurrencies.
NFTs have gained popularity in various fields, including art, music, gaming, and collectibles, allowing creators to tokenize their work and provide a digital certificate of ownership for their creations.
According to the pressgazette website, popular news publishers fetched $12 million through NFTs analysis 12m times 560kmaher pressgazette nfts. This report shows the data from March 2021 only.
List of news publishers
Here is the list of News publishers that sold NFTs accordingly. These news publishers include Time, SCMP, CNN, NYT, Gannett, Quartz, Ukrainian media, AP, Forbes, and The Economist. Among all of them, Time magazine and New York Times (NYT) earned the most $10 million and $560k respectively analysis 12m times 560kmaher pressgazette nfts.
Other news publishers earned randomly such as SCMP earned $130k, CNN earned $329k, Gannett earned $8k, Quartz earned $1.8k, The Economist earned $422k, Forbes earned $408k and Ukrainian Media earned $3.5k accordingly. NYT, Gannett, Quartz, The Economist, Forbes, and Ukrainian media helped charity foundations with their earned money from NFTs.
Assets news publishers sell
As we mentioned above NFTs are non-fungible tokens and the news publishers that earned that much money were from selling their owned digital art. Here is the complete detail of each news publisher and their NFTs.
Here we will discuss the NFTs of Time and New York Times NFTs the leading earned in this case analysis 12m times 560kmaher pressgazette nfts. If you are interested in knowing about other publisher’s NFTs visit the pressgazette website you will find the complete list analysis 12m times 560kmaher pressgazette nfts.
- Time or TIME
Time magazine which earned more than 10 million dollars while selling its unique digital assets or simply NFTs considered a leading NFT seller among others. The reason might be due to its successful web3 journey and its use in selling digital assets.
Time used the Opensea marketplace for selling NFTs and after the first successful NFTs sells Time established a storefront for Time-branded NFTs.
It was March 2021 when Time raised their first NFTs for auction. These first NFTs consisted of three tokens of front covers, of which two were historical and one of them was mocked up for the moment. These three covers were sold at auction for $435k. That’s why Time magazine was motivated to take further steps and took a decision to shift its president Keith Grossman from his previous role to work on web3 efforts.
- The New York Times (NYT)
Next to TIME, the New York Times NYT comes second in earnings from NFTs and it earned about $560k analysis 12m times 560kmaher pressgazette nfts.
Kevin Roose a NYT technology columnist displayed his column for auction as NFT in March 2021. The title of the column was “Buy this column on the Blockchain!”. The minimum price set for this NFT was 0.5 Ethereum, as this was an auction so the final selling price reached 350 Ethereum approximately equal to $560k.
This was all about analysis 12m times 560kmaher pressgazette nfts, hope you found it helpful and informative.
The analysis of NFTs, reported by the Pressgazette, shows unbelievable earnings for major news publishers. In a place where news publishers made 12 million dollars in a combination of selling NFT, Time magazine earned 10 million dollars alone. The second highest earning figure was 560,000 dollars for The New York Times analysis 12m times 560kmaher pressgazette nfts.
Frequently Asked Questions (FAQs)
- What does NFT stand for?
NFT stands for non-fungible tokens. These are digital assets that represent ownership or proof of authenticity of a unique item or piece of content using blockchain technology.
- How do NFTs work?
NFTs cannot be replicated or exchanged like traditional cryptocurrencies. They are unique digital assets that utilize blockchain technology to provide a digital certificate of ownership for a specific item or content.
- How much did Time magazine earn from selling NFTs?
Time magazine earned more than $10 million by selling its unique digital assets or NFTs. They utilized platforms like Opensea for NFT sales and established a storefront for Time-branded NFTs.