Business magazine Fortune has raised over $1.3 million in its first non-fungible token (NFT) sale.
- Fortune auctioned a set of limited-edition NFTs of the cover of its crypto-themed August/September 2021 issue. The auction raised 429 ETH, the equivalent of over $1.3 million at the time of writing.
- The lot sold out in a few minutes and the NFTs are fetching resale prices upwards of seven times the original listing, Fortune reported Friday.
- The auction was held on NFT marketplace OpenSea, which experienced tech issues possibly as a result of the traffic experienced.
- Tech editor Robert Hackett tweeted that Fortune would be donating 50% of the proceeds to non-profit organizations and holding the rest.
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