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TIME Magazine Launches Timepieces NFTs

Today, legendary news magazine, TIME, announced the launch of its NFT collection (known as TIMEpieces), indicating its readiness to explore the NFT space the more. The NFT collection contains works for 40 digital art creators.

TIMEpieces Contains Works From Over 4,500 Contributors

The total number of artworks from these creators is over 4,500 and has been put on the opensea marketplace. The first acceptable bidding price for each of them is 0.1 ETH (approximately $500), but they are being sold for far higher prices on the retail marketplaces.

Owners of each NFT piece can connect their crypto assets to TIME’s site and have limitless access till the magazine’s 100th anniversary, which comes up in the next two years. One of TIME’s executive directors, D.W. Pine coordinated the network of digital art creators who created the TIMEpieces. The TIMEpieces consist of collections from several categories such as photography, painting, animation, and illustration.

Newest Attempts Into NFTs

Some of the creators have also worked with the magazine at one TIME or the other. Pine further said that this TIME achievement had made the firm the first-ever company to make a foray into the NFT space. He further noted that TIME would look to optimize the technology to expand its digital subscription offerings.

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Part of the announcement from the firm is that the digital artworks can be made available in hardcopy format throughout the holiday season. Some of these works are already being sold at mouth-watering prices on the secondary market. On sale at a bid price of $14m (4,270 ETH), “the control room” piece is the most expensive of the collection as of this writing.

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The OpenSea marketplace also disclosed that the total sales of these pieces are now over 6,500 ETH right now. Last month, the news behemoth launched 400 NFTs in collaboration with the cool cats NFT.

The NFT-Mania Is Cooling Down Gradually

Despite recording sales of almost $268m last month, fewer people are now jumping on the NFT bandwagon. A nonfungible site data revealed that NFTs’ daily sales record as of yesterday stands at $28m, and it involves the sale of more than 85,000 NFTs.

Cryptosplam data revealed that Axie infinity’s NFT sales (almost $106.5m) top the chart for the past week. Art blocks NFT sales come a distant second, with a sales record of $34m in the last seven days.

The9 Partners With Polygon

China-based gamify and play-to-earn firm, The9 Ltd, has announced a new partnership with the polygon blockchain for its NFT platform called NFTSTAR. Per the agreement, the polygon will offer technical support for the gaming firm.

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However, the announcement did not reveal the nitty-gritty of the details, especially as it relates to finances and technical support. The9 also seeks to launch Gamefi funds and support for the company’s projects.

Another China-owned firm has joined the NFT family. Xuper (a blockchain firm owned by search engine giants, Baidu) announced that it will launch a music NFT today through its social media handles. The company continues to seek ways to explore various opportunities in the digital asset space.


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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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