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Rolling Stone and BAYC have teamed up to release two nonfungible tokens (NFTs), one of which will be a BAYC and the other a MAYC.
Of this these two NFTs, one will be a BAYC and the other MAYC.
The tweet read that the NFTs are set to debut on June 22, and the live auction “will be accompanied by a 4-hour sale for collectible art prints of each design”.
In addition, aspiring collectors will be able to make purchases using Apecoin at the equivalent of $100. ApeCoin (APE) was trading at $4.39 as of press time.
The partnership marks the second time Rolling Stone and BAYC are partnering to release NFTS. Last November 2021, the two collaborated to release two digital magazine covers.
The media and web3
Rolling Stone, earlier in January, partnered with Coinbase to release an exclusive NFT for the super bowl. The drop marked Rolling Stone’s return to the super bowl and featured a collaboration with 12 other artists.
However, rolling Stone is one of several print publications venturing into the NFT space.
In March 2021, the New York Times auctioned an NFT of its column and sold it for $560,000. In the same period, Time Magazine sold four NFTs of its digital magazine covers for a total of $446,000.
The Economist sold a cover of its magazine for $419,000 in October 2021. Fortune Magazine and Playboy Magazine also add to a list of media houses that have ventured into the NFT space.
BAYC caught in the crypto winter
The extreme crypto market conditions equally hit the NFT collection. A recent report covered that the collection had recorded a decrease in its price after hitting a bottom price of 72.503 ETH ($86,000) on June 13.
Nonetheless, the collection continues to maintain the top spot.