Forbes Expands Into Metaverse With Launch Of Virtual Billionaires NFT Collection on FTX
April 11 2022 - 10:54AM
Business Wire
Forbes today unveiled a preview of its virtual Billionaires NFT
collection, a first of its kind NFT project for the media industry.
The collection includes a set of fictional investors with an
enormous theoretical portfolio and virtual net worth based on live
New York Stock Exchange pricing. Each NFT Billionaire will have
compelling hobbies and an eccentric Forbes accessory that will be
ranked daily on the forthcoming Forbes Virtual NFT Billionaires
List.
Forbes has partnered with FTX, a leading global cryptocurrency
exchange, to launch an ERC-721 token on April 13. Early access to
the collection is available to Forbes subscribers on April 11. The
sale includes an initial drop of 100 Virtual NFT Billionaires and,
when the Forbes collection sells out, interested parties can still
take part in the action by looking for Forbes Virtual NFT
Billionaires for sale on any ERC-721 Marketplace.
Forbes Virtual NFT Billionaires will have their own profile page
on Forbes.com featuring a custom illustrated headshot by Goodog and
ItsACat, a group of 2D and 3D illustrators and animators based in
Barcelona. Owners will also have their public wallet address listed
with the Billionaire that they own on the Forbes.com official
ranking.
“With the Forbes virtual Billionaires NFT collection, we are
seeing an established and reputable media company endeavor into the
blockchain industry,” said Tristan Yver, Head of Strategy at
FTX US. “We are excited to partner with Forbes on their first NFT
sale and will continue to encourage innovation and entry into the
digital asset community."
“The launch of this collection is an important step as Forbes
embraces Web3 and digital assets, and it provides an opportunity
for our audience to better engage in this space too,” said Vadim
Supitskiy, Chief Technology Officer, Forbes. “Last year, we
turned a Forbes cover into an NFT, demonstrating that journalism is
as immutable as a piece of one-of-a-kind artwork. In March, we
shaped the conversation around digital assets and Web3 at our
inaugural Summit. Now, we’re cementing our place in the Metaverse
by launching these interactive collectibles that can be
authenticated and traded on the blockchain.”
The NFT Billionaires collection is the latest in a series of
contributions Forbes has made to the digital art and blockchain
space. On March 16, 2022, Forbes held its inaugural Digital Assets
and Web3 Summit to gather key industry leaders – including Sam
Bankman-Fried, Founder and CEO of FTX, and Kathleen Breitman,
Co-Founder of Tezos – to discuss the future of digital assets and
Web3. Attendees came together for a dynamic agenda of panels and
fireside chats on topics including blue chip bitcoin, the impact of
Web3 on the future of business, how blockchain is transforming ETF
and what’s next for the NFT market.
In April 2021, Forbes was also the first in the industry to
transform one of its covers into an NFT. The digital art – titled
“Merchants of the Metaverse” and featuring Cameron and Tyler
Winklevoss – was sold at a limited auction for $333,333, with all
proceeds donated to the Committee to Protect Journalists (CPJ) and
the International Women’s Media Foundation (IWMF).
To learn more about the NFT Billionaires collection and how to
participate in the sale event, including the perks afforded to
Forbes subscribers, visit: Forbes Virtual NFT Billionaires.
To learn more about NFTs, read Forbes’ leading coverage of the
space here.
Methodology
Each NFT has a portfolio that was randomly selected and based on
real-time collections of ETFs and other publicly held assets on the
New York Stock Exchange. Every day, the values of these imaginary
portfolios change alongside the ranking of each NFT on the
Billionaires list. Forbes uses several different methods to track
the last sold price and determine the current NFT owner's public
wallet address, including a set of custom APIs from FTX and an
open-source tool that allows Forbes to watch the Ethereum chain in
real-time, depending on where the NFT is held.
About Forbes
Forbes champions success by celebrating those who have made it,
and those who aspire to make it. Forbes convenes and curates the
most influential leaders and entrepreneurs who are driving change,
transforming business and making a significant impact on the world.
The Forbes brand today reaches more than 150 million people
worldwide through its trusted journalism, signature LIVE and Forbes
Virtual events, custom marketing programs and 47 licensed local
editions in 80 countries. Forbes Media’s brand extensions include
real estate, education and financial services license
agreements.
Forbes recently announced plans to go public through a business
combination with Magnum Opus (NYSE: OPA), a special purpose
acquisition company (SPAC), which is expected to close in the
second quarter of 2022.
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Media Laura Brusca pr@forbes.com
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