New York Times Sells NFT Column in an Auction for $560,000
(Bloomberg) -- The New York Times sold an article tied to an NFT, or nonfungible token, for about $560,000, another sign of the red-hot market for digital collectibles.
“Buy This Column on the Blockchain!” from Times journalist Kevin Roose was turned into an NFT and auctioned off on the open market, with the proceeds going to the newspaper’s Neediest Cases Fund, which supports charitable causes.
There’s been a boom in sales of NFTs. In March, a work by the digital artist Beeple sold for $69 million at Christie’s. NFTs are tied to digital ledgers such as blockchains and are difficult to fake.
“Why can’t a journalist join the NFT party, too?” Roose wrote in this column.
Times shares briefly rose on Roose’s tweet, a sign that some investors may have momentarily thought the publisher had discovered a lucrative new business.
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