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Forbes partners with FTX to launch NFT collection and ERC-721 token
Forbes has signed a deal with FTX and also confirmed the release of an ERC-721 token on April 13. While the token remains unnamed, the firm plans to release an NFT collection with the title of Virtual NFT Billionaires. After TIMES released their own NFT collection last year followed by The Associated Press, this marks another unique NFT project for the media industry.
Forbes and FTX sign a deal
FTX has made big moves in the last few months and scored major partnerships. However, the crypto exchange led by Samuel Bankman-Fried, popularly known as SBF, has confirmed a deal with Forbes. On the other hand, Forbes is ready with its new NFT collection which will include "a set of fictional investors with an enormous theoretical portfolio and virtual net worth based on live New York Stock Exchange pricing."The official release from Forbes confirmed:
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.The partnership of the firm with FTX exchange revolves around the creation and release of an ERC-721 token which will be launched on April 13. Furthermore, there will be early access to the subscribers on April 11.
The sale and strategic investment from Binance
The official statement also confirmed that 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."Vadim Supitskiy, Chief Technology Officer, Forbes said:
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.Furthermore, it is also important to note that Binance, the world's biggest crypto exchange, made a $200 million strategic investment in Forbes, making the crypto exchange one of the two largest owners of Forbes.
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