Forbes Partners with FTX to Launch NFT Collection and ERC-721 Token

Forbes media outlet is venturing into the metaverse through the launch of the virtual billionaires NFT collection. The company partnered with cryptocurrency exchange FTX to launch the NFT products. The non-fungible tokens are expected to be available for public collection on April 13.

However, the company made it clear that early access to the NFT collectibles is available to Forbes subscribers.

Forbes notes that the initial NFT sale will involve 100 Virtual NFT Billionaires. Later, NFT enthusiasts can access them on any ERC-721 Marketplace.

“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.”

Web3 has taken center stage for most tech companies around the world seeking a stake in the technology. Moreover, the evolution of the internet has taken a new path powered by decentralized blockchain technology.

“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.”

Forbes Market Outlook and the NFT Industry

As a leading media outlet, the company takes pride in over 150 million viewers around the world. Thereby confident its NFTs will have a huge market.

Notably, the company said the NFTs will have their profile page on Forbes.com. Additionally, the company noted that the NFTs will feature a custom illustrated headshot by Goodog and ItsACat, a group of 2D and 3D illustrators and animators based in Barcelona. Otherwise, the Forbes virtual Billionaires NFT collection owners will have their public wallet address listed with the Billionaire that they own on the Forbes.com official ranking.

Over the years, the company has gained a reputation for its billionaire ranking. With the launch of new NFTs focused on imaginary portfolios, it is poised to attract more Web3 enthusiasts.

Worth noting, the media outlet intends to go public before the end of the second quarter. Reportedly, the company will go public through a SPAC merger with Magnum Opus (NYSE: OPA).

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