2 years ago
Media organizations are ever looking for caller sources of gross beyond selling ads against people copy. Hong Kong’s South China Morning Post appears to person recovered 1 successful selling Non Fungible Tokens (NFTs) of its beforehand pages from humanities events, and has specified assurance successful the concern that its spinning it disconnected into its ain part called Artifact Labs.
The SCMP’s NFTs are beforehand pages from humanities events specified arsenic the handover of Hong Kong to China successful 1997, the Avian flu outbreak, the Asian Financial Crisis, and the decease of Princess Diana.
Its NFT postulation exists connected Flow, a blockchain built by Dapper Labs, which besides powers NBA’s Top Shot collection.
Buyers tin bid connected a circumstantial NFT from a humanities event, oregon bargain a enigma container of beforehand pages from selected events.
In its past auction, the paper sold implicit 1,000 NFTs and brought successful astir $127,000.
“SCMP’s instauration of ‘Artifact Labs’ to research the imaginable of blockchain applications for media is simply a transformational measurement for our 118-year aged organization,” said SCMP Chairman Joe Tsai.
Tsai is besides the co-founder and enforcement vice-chairman of Alibaba.
SCMP volition proceed to beryllium a shareholder successful ‘Artifact Labs’, and volition question third-party superior to assistance money the company’s growth, according to a property release.
In precocious December, Tsai tweeted: “I similar crypto” hinting astatine the aboriginal enlargement of his businesses into crypto. As mainland China-based Alibaba can’t get profoundly progressive successful crypto, SCMP’s foray into NFTs is simply a logical measurement for his crypto expansion.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Subscribe to First Mover, our regular newsletter astir markets.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 