Men’s Fashion Magazine GQ to Launch its First NFT Collection
NFT collection means non-fungible tokens are blockchain-based cryptographic assets.
Before being curated by hand, each artist is said to have produced more than one hundred “traits,” which were used as building blocks in an algorithm to create the collection’s final pieces.
Subscribers to the NFT collection Adoption on the Rise Drop will receive a subscription to GQ3 for one year, a merchandise box, exclusive GQ3 merchandise, and admission to a GQ3 bash in New York City. Users will have access to a private section of the GQ3 Discord as well as first dibs on future NFT drops.
GQ launched a Discord server in May 2022 under the name GQ3 specifically for readers who were interested in sneakers and streetwear. Established in 1931, Fashion magazine GQ is a multinational American men’s fashion monthly magazine with headquarters in New York City. At the current exchange rate, one NFT costs 0.1957 ETH, or approximately $330. The collection will be available for purchase starting on March 8.
It is not new for prominent media outlets to participate in NFT. It was a turning point when the first NFT collections from Vogue Singapore and Fortune Magazine debuted in August 2021. Bored Ape Yacht Cub (BAYC) and the music and entertainment publication Rolling Stone have collaborated on not one but two NFT releases.
For instance, an Launch of the NFT collection of a column from the New York Times brought in $500,000 in March 2021, while The Economist brought in $419,000 for its cover of “DeFi Rabbit Hole,” which featured Alice in Wonderland.