Are non-fungible tokens dead? Time releases three NFT covers

Did you think we hit Peak NFT when Pizza Hut released a digital slice of pizza (a so-called NFP) or when Charmin dropped some non-fungible toilet paper (NFTP)? Nah. The non-fungible token craze probably won’t jump the shark until Henry Winkler himself releases a jump-the-shark-themed NFT. Until then, we’ll just have to collectively endure the continuing flurry of brands discovering the real value—for now, at least—of NFTs: a token amount of buzz. Today’s (or this hour’s or this minute’s) brand in the NFT-marketing-stunt hopper: Time magazine. As the venerable newsweekly’s editors write in a post published this morning, Time is to auction three first-ever NFTs (non-fungible tokens) inspired by one of Time’s most iconic covers and including an original cover created especially for the auction. These Time NFTs are available individually or as a collection on the cryptocurrency marketplace SuperRare. The auction is open now and will run until Wednesday, March 24 at 8PM ET. Inspired by the “Is God Dead?” cover from April 8, 1966, the original NFT rendition, released amid the stratospheric rise of NFTs and adoption of cryptocurrencies, returns to the stark black field and red bold typography to once again ask a topical question, “Is Fiat Dead?” Keep reading here. Time doing an NFT riff on “Is God Dead?” is a canny move given that investing in NFTs requires a leap of faith—and a certain amount of buy-in on the almost quasi-religious fervor surrounding the larger cryptocurrency market. For those still trying to make sense of the NFT faith, Ad Age’s Garett Sloane offers this sermon: “Taco Bell’s $187,000 crypto taco—and what brands should know about NFTs.”

Are non-fungible tokens dead? Time releases three NFT covers

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