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Tuesday, June 15, 2021

Crypto token of New York Times column sells for $560,000.

A one-of-a-kind digital collectible merchandise created out of a New York Times expertise column bought for greater than $500,000 in an public sale, the primary such sale within the historical past of the newspaper.

An picture of the column — titled “Buy This Column on the Blockchain!” — was become a nonfungible token, or NFT, and bought in a heated public sale that introduced in additional than 30 bids on the NFT market web site Foundation.

The NFT, a novel bit of digital code that’s saved on the Ethereum blockchain and refers to a 14 megabyte graphic of the column hosted on a decentralized file internet hosting service, can’t be duplicated or counterfeited, making it doubtlessly helpful for collectors. Some NFTs have bought for a whole bunch of 1000’s of {dollars} in current weeks, with one such sale — a set of artwork by the digital artist Beeple — bringing in additional than $69 million at public sale.

Along with the token, the winner of the public sale — ought to they select to determine themselves — will obtain extra perks together with a voice message from Michael Barbaro, the host of “The Daily” podcast. All proceeds from the public sale can be donated to the Neediest Cases Fund, a Times-affiliated charity.

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