"429 Ethereum Tokens Acquired! First NFT Auction Since Inception, Fortune Magazine Editor: We Will Hold onto Ethereum Tokens"

The NFT artwork created by Taiwanese crypto artist pplpleasr has made it to the cover of Fortune Magazine. In its first-ever NFT auction since its inception, Fortune Magazine raised 429 ETH, with the current price exceeding $1.4 million.

Fortune Magazine's August/September Cover Story in the Crypto World

Previously reported, the August/September issue of "Fortune Magazine" features the headline "Crypto vs. Wall Street: Cryptocurrency vs. Wall Street": How a well-funded tech army behind centralized finance is planning to reshape the financial system.

The artwork featured on the cover by pplpleasr depicts a building resembling bamboo in a city at night, with a sliced angle revealing another city inside, showcasing various cryptocurrency symbols such as Bitcoin, Ethereum, Compound, Aave, Uniswap, SushiSwap, Three Arrows Capital, and more. It symbolizes the DeFi sector as having built another community within the existing city.

259 NFTs Sold Out

"Fortune Magazine" auctioned 259 NFTs, with 256 being limited editions starting at 1 ETH and now selling for 18.4 ETH, while three special editions with animated borders were auctioned for 26, 90, and 105 ETH respectively.

The special edition NFT named "chad 2" fetched the highest price due to its animation featuring the classic Doge meme.

In June this year, the decentralized organization PleasrDAO, under the pseudonym pplpleasr, bid 1696.9 ETH for an NFT issued by the original Shiba Inu meme creator かぼす Kabosu, and changed their Twitter handle to "PleasrDAOGE."

"chad 2" was also acquired by PleasrDAOGE.

According to a report by "Fortune Magazine," the limited edition NFTs sold out within minutes, some resold on OpenSea, while the special editions faced technical difficulties on OpenSea due to high web traffic, preventing many users from bidding.

Despite this, the inaugural NFT auction brought an impressive 429 ETH (approximately $1 million) for "Fortune Magazine." "Fortune Magazine" and pppleasr stated that 50% of the proceeds will be donated to non-profit organizations.

Even "Fortune Magazine" editor Robert Hackett took a jab at Twitter's founder's obsession with Bitcoin:

We are quite astonished by the results of the NFT auction in collaboration with pppleasr, raising 429 ETH, $1.3 million, on OpenSea despite technical issues, with 50% going to non-profits. Oh, by the way, "Fortune Magazine" will continue to hold the ETH. Apologies, Jack.