As NFTs boom, The Economist and The Spectator join the digital assets craze
Future News 113
Everyone is getting in on the act. From the NBA to The New York Times, and now The Economist and The Spectator have joined the ranks of organisations auctioning off digital assets as non-fungible tokens (NFTs).
The Economist raised more than $400,000 for its ‘Down The Rabbit Hole’ cover in just over a day. The funds will go to charity. The Spectator, meanwhile, is “open to the idea” of a whole series of the 191-year-old magazine’s greatest covers, Freddy Gray, Deputy Editor of The Spectator, told FN.
The inaugural NFT is the 18 June 2016 front page of The Spectator, ‘Out’, following the UK’s vote to split from the EU. So far the auction has raised more than $4,500, with bidding ending on 5 November, Guy Fawkes Night/Bonfire Night in the UK. The art work is from Morten Morland who has previously spoken to FN.
Elsewhere, cryptocurrency trade outlet Decrypt has helped launch the first DAO-backed (decentralised autonomous organisation) newswire, PubDAO.
💼 Other business
Julio Bruno is leaving Time Out Group as CEO, with the business reporting a decline in net revenues to £37.8m (2019: £63.3m). Chris Ohlund, currently Executive Vice Chairman of Time Out, will take over as CEO.
News Corp will hold its AGM on 17 November.
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