GQ Joins List of Legacy Media Outlets Boarding NFT Bandwagon

Please fol­low and like us:
Pin Share

Men’s fash­ion mag­a­zine GQ has launched its first-ever non-fun­gi­ble token (NFT) col­lec­tion, fea­tur­ing 1,661 algo­rith­mi­cal­ly-gen­er­at­ed pieces.

The col­lec­tion, dubbed “GQ3 Issue 001: Change Is Good,” will fea­ture art­work from Chuck Ander­son, Ser­wah Atta­fuah, Kelsey Niziolek, and REO.

Accord­ing to the announce­ment, each artist cre­at­ed over 100 “traits” which were then com­bined algo­rith­mi­cal­ly to form the pieces in the col­lec­tion, before being hand-curat­ed by the artists to form the final collection.

Sub­scribers to the drop will receive a sub­scrip­tion to the mag­a­zine, a mer­chan­dise box, exclu­sive GQ3 mer­chan­dise, and a tick­et to a GQ3 par­ty in New York City. Users will also get access to a spe­cial sec­tion of the GQ3 Dis­cord as well as first dibs on future NFT drops.

GQ3 is a Dis­cord serv­er launched by the mag­a­zine in May 2022 aimed at streetwear and sneak­er fans.

Each NFT will be sold at a price of 0.1957 ETH, around $330 at cur­rent prices. The col­lec­tion kicks off on March 8.

Legacy magazines and NFTs

This isn’t the first time high-pro­file media out­lets join the NFT game.

Vogue Sin­ga­pore and For­tune Mag­a­zine first launched their NFT col­lec­tions in August 2021. Music and cul­ture mag­a­zine Rolling Stone has released not one but two NFT drops in col­lab­o­ra­tion with Bored Ape Yacht Cub (BAYC).

Some of these NFTs have been able to attract pre­mi­um prices, too; The New York Times, for exam­ple, raised half a mil­lion dol­lars in March 2021 for an NFT of a col­umn, while The Econ­o­mist raised $419,000 for its Alice in Won­der­land-themed “DeFi Rab­bit Hole” cover.

How­ev­er, not all entrants have been met with pos­i­tive feed­back from the wider cryp­to community.

News net­work CNN shut­tered its NFT project dubbed “The Vault” in Octo­ber 2022 which offered NFTs that com­mem­o­rat­ed major news events.

The clo­sure of the project, which at one point promised mer­chan­dise and perks as “com­ing” soon, was derid­ed as a “rug pull” by some in its Dis­cord com­mu­ni­ty.

Stay on top of crypto news, get daily updates in your inbox.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *