The central theses
- TIME Magazine has coined a number of NFTs related to the infamous “Is God Dead?” Cover printed in the 1960s.
- Bid for the “Is Fiat Dead?” NFT currently stands at 20 ETH, or around $ 35,000.
- The magazine described the rise of the NFT industry as “stratospheric”.
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TIME Magazine is auctioning three NFTs inspired by famous TIME covers from the past, as well as a new cover created just for the auction.
On April 8, 1966, TIME printed an issue with the title page asking “Is God dead?”
The controversial question was printed in red ink on a black background and was TIME’s first cover to contain only text.
“It is a question that captivates believers who may secretly fear it is and atheists who may suspect the answer is no,” said then-editor John Elson.
TIME followed up this format on April 3, 2017 and asked: “Is the truth dead?” in the first year of Donald Trump’s US presidency.
Editor Nancy Gibbs confirmed that the cover was about Trump and various false statements made during his tenure.
“Just like many said they believed in God in 1966, many today would say they believe in the truth, and yet we have an intense debate about their role and power in the face of a president who treats them like a toy.
Now TIME has designed a cover specifically for NFT and asked: “Is Fiat dead?”
Is Fiat Dead?
TIME is auctioning all three NFTs on the SuperRare crypto marketplace. The auction is now live and will run until midnight ET on March 24th.
At the time of writing, we are bidding for the “Is Fiat Dead?” NFT stands at 20 ETH, or about $ 35,000. Bid for “Is the Truth Dead?” is now at 10 ETH, while the current bid for “Is God dead?” is 0.5 ETH.
The 98-year-old magazine company is the youngest organization to enter the NFT space. Atari has included NFTs in its latest platform version, along with many other examples.
TIME stated, “Fiat money is government issued currency that is not backed by a physical commodity like gold or silver, but by the government that issued it. Cryptocurrencies [sic]challenge this model like Bitcoin and Dogecoin. “
In 2018, TIME published content on how Bitcoin can help fight authoritarianism.
The total size of the NFT market is now over $ 517 million, according to Nonfungible.com. Beeple’s Everydays: The First 5,000 Days collection is selling for $ 69 million including fees at Christie’s, and it is likely that the TIME auction will generate significant interest as the deadline approaches.
Disclosure: At the time of writing, the author was holding Bitcoin.
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