TL; DR Breakdown
- Rolling stone is currently minting its NFT.
- The magazine is partnering with Bored Ape to maximize sales.
Rolling Stone music magazine has joined the NFT space today. They auctioned two digital publication covers developed in conjunction with BAYC. So far, the Ape-themed digital painting compilation has traded $1 billion in auxiliary selling size until today.
The union between Rolling stone and Bored Ape Yacht Club came to effect recently. An immediate turnover of about 2,500 restricted version paper zines included a bored ape on the journal’s cover.
Bidding takes place on SuperRare
Today, that journal case is an NFT, and it’s on trade. SuperRare acts as the bidding host to this NFT. The auction will run for five consecutive days from today. Since the auction started, the call has surpassed 20ETH or about $47,000 at the moment. At the same time, offering for a different case that features Mutant Ape is running concurrently at SuperRare.
The two auctions are a series of seven NFT cases scheduled for publicity by the media outlet. However, they will release them together with Bored Ape inventors. The next 5 NFTs will be well designed by renowned NFT artists and contain the Bored Ape actors.
Other players in the space
With this auction, the media outlet has become the latest print edition to advance into web three-space. A fortnight ago, the Economist went the NFT way by selling one of its covers as NFT for $419,000. Also, TIME magazine announced its entry into the NFT space earlier by releasing several digital covers.
According to Times magazine, some proceeds from their NFTs will cater to the disadvantaged groups. Times will do this through a non-profit structure they operate. But more prominent was The New York Times getting $500,000 for an NFT editorial in March.
Yet, that is just the tip of the iceberg. Some months ago, Playboy started to issue NFs. The NFTs were profiling several years of photogrammetry and art. The series had, among others, images of vintage centerfolds. Additionally, there are Fortune’s NFTs that went up for sale at the OpenSea marketplace.
To justify the unity of purpose among the two entities. Gus Werner, the media director, said the media outlet has always been with artists for decades. He thus believes these two brands are well synchronized. He stated that Bored Ape fancies music and culture, giving them an edge as excellent partners to bring the project up.
NFTs are common with visual artists and musicians alike. But because of its lucrative nature, reporters and media houses are finding their way. For instance, Quartz made an NFT article and sold it at about $1,800. Similarly, Associated Press auctioned a piece of digital art as an NFT.