The article “Buy This Column on the Blockchain” was written to see whether there was a demand for what products would sell as an NFT. The latest example of the craze surrounding NFTs, which collectors are buying up, is a New York Times columnist who sold one of his articles in digital form for $563,000.
Keven Roose’s post, “Buy This Column on the Blockchain,” was intended to test the demand for what kinds of products will sell in the form of a “NFT.”
A non-fungible token (NFT) is a digital object with a certificate of authenticity generated by blockchain technology, such as a painting, piece of music, picture, or video. The security of this authentication by a network of computers is unquestionable. With its certificate, the virtual object, which is simply a computer file, may be traded or sold.
During the pandemic, wealthy collectors have turned to the digital market, and NFTs have become increasingly common in the last six months. When its sender, Twitter co-founder and CEO Jack Dorsey, accepted the winning bid at auction on Monday, the first message ever posted on Twitter sold for $2.9 million.
A digital collage by American artist Beeple sold for $69.3 million at Christie’s earlier this month, breaking the previous record for an NFT. In his column, Roose asked, “Why can’t a journalist join the NFT party as well?”
A collector named Farzin won the article with 350 Ethereum, a major cryptocurrency, worth $563,000, at the end of the 24-hour auction. After the deal, Roose, a tech writer, wrote on Twitter, “Completely just staring at my monitor laughing uncontrollably.”