US business magazine Fortune says it will hold half of the proceeds from the recent sale of its non-fungible tokens (NFT) in crypto.
In its first-ever NFT auction held on August 6th, the magazine sold a set of 256 digital collectibles of animated cover art priced at one Ether (ETH) each. The cover art is based on Fortune’s August/September issue, which is themed “Crypto vs. Wall Street.”
The collectibles sold out “almost instantly,” says Fortune.
According to senior writer and editor of the magazine Robert Hackett, Fortune’s share of the proceeds will not be converted to regular currency.
“50% is going to nonprofits. Oh yeah, and Fortune is gonna HODL (hold on for dear life) its share of ETH.”