The sale of NFTs is aligned with Media Central’s strategy to develop new digital revenue models to diversify its revenue streams and to showcase the quality of its news products. Media Central previously announced it had introduced similar strategic innovations by entering into an agreement with arts and entertainment news aggregator www.creatornews.com and the soon to be launched CreatorStack paid blog platform.
According to cnet.com, the exuberant interest in NFT’s has created a digital marketplace that generated over
“The investment value and appreciation of NFTs has become better understood over time. As we track the rapid evolution of media, it is evident that crypto as a currency and the blockchain as a secure place to record and store transactions will play a role in the future of media and the purchasing habits of consumers,” said
Media Central NFTs are sold using Ethereum cryptocurrency stored in a “digital wallet” that can be found at metamask.io. Purchases are made in an auction environment. There is no opening bid and Media Central determines whether or not to accept bids as they are placed.
Blockchain innovation eliminates “auction house” practices, human appraisal and creator bias along with the related costs of paying a “middleman” when valuing paintings, sculptures, photographs, animations, audio.
Ironically, it was Christie’s that auctioned off Beeple’s EVERYDAYS: THE FIRST 5000 DAYS for
“We have no illusions that future NFT sales for us will be akin to winning the lottery,” said
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