- It will be possible to purchase the first non-fungible token (NFT) collection from the men’s fashion publication GQ.
- In addition, holders will have first access to forthcoming releases and a private Discord channel.
- Each artist created more than 100 unique traits, which were combined by an algorithm to create the series’ artwork.
The first non-fungible token (NFT) collection from men’s fashion magazine GQ will be made available, giving owners access to items, live events, and a magazine subscription.
The compilation, titled “GQ3 Issue 001: Change Is Good,” consists of 1,661 NFTs that are connected to original works of art made by artists Chuck Anderson, REO, Kelsey Niziolek, and Serwah Attafuah.
Each token entitles its owner to further benefits, including membership to GQ magazine, a box of hand-selected GQ goods, a piece of unique clothing, and admission to the April GQ3 party. Holders will also get priority access to upcoming releases and a private Discord channel.
We’re excited to announce GQ’s first-ever #web3 digital art drop, the GQ3 Issue 001: Change Is Good collection https://t.co/Af6ZrG6DHK pic.twitter.com/lPx5FjWa4t— GQ Magazine (@GQMagazine) February 15, 2023
Each artist produced more than 100 distinctive qualities, which were blended using an algorithm to produce the artwork in the series. The NFTs will cost 0.1957 ETH, or roughly $330, as an homage to the year GQ was established. On March 8, the collection will be released in stages, starting with an allowlist of GQ’s Discord’s active users.
GQ joins several established publications that have begun embracing Web3 with varying degrees of success. CNN, a cable news network, debuted its NFT marketplace Vault in June 2021 then shut it down in October 2022, leading some community members to claim that the platform pulled a fast one.
The “TIMEPieces” NFT collection, which TIME Magazine started in September 2021 and featured work by over 40 artists, has since amassed over 11,450 pieces.
All 4,676 were gone in minutes when the public could purchase them earlier in December of last year.
Buyers spent roughly four times as much on transaction fees as they did on the NFTs themselves, according to a data tracker from a researcher called Banterlytics. The sale also congested the Ethereum blockchain, driving fees to astronomical highs. 10 of Time’s NFTs cost $70,000 at one address.