Ether NFTs based on artist plpleasr’s Fortune magazine cover to be released at OpenSea
The three special edition NFTs will have artwork that changes depending on whether certain cryptocurrency industry players bid on it, via custom smart contracts.
Fortune magazine’s latest issue focuses on the rise of decentralized finance and the wider cryptocurrency world, so it makes sense for the publication to follow in Time’s footsteps and release a special edition NFT based on the magazine’s cover. But in this case, there’s a very specific twist.
These NFTs were launched at OpenSea in the marketplace, and 256 standard editions have sold out at 1 ETH each (nearly $2,890). However, there are three more special edition NFTs to be auctioned off to the highest bidder, and in addition to adding rarity, they have a little something extra: the animated cover image actually changes depending on whether certain people bid on it.
An NFT is like proof of ownership for a digital item – like a still image or video file – and in most cases, what you see is what you get. However, programmable smart contracts allow for unique variations and modifications, like those introduced in this particular drop.
Noted NFT artist plpleasr has included a range of familiar cryptocurrency industry sights in his work, from cryptocurrencies like Bitcoin and Ether to the fox mascot of wallet app MetaMask, plus references to decentralized exchanges Uniswap and SushiSwap. It’s also filled with references to the famous “Crypto Twitter” character.
According to plpleasr’s Twitter video, the smart contracts – or bits of computer code that execute certain instructions – that power the limited-edition Fortune NFTs have been written to automatically change the artwork if certain public ethereum wallet address holders bid on it. In other words, auctioned NFTs could become more distinctive depending on who tries to buy them.
Pplpleasr specifically mentions Twitter celebrities Crypto Cobain and Loomdart as those whose bids can change the artwork. Since the auctions began, plpleasr tweeted that cryptocurrency developer Icebergy held the highest bid in all three auctions and showed how the images could be altered to showcase their avatars.
Ultimately, the winning bidder’s wallet will determine the final form of the NFT artwork – so if one of those cryptocurrency personalities associated with the programmable tweaks doesn’t win the auction, then those changes won’t stick to the final NFT mint. Regardless of a outcome of a artwork, a auction will benefit a good cause: plpleasr says that half of all proceeds will go to a undisclosed charity.
The custom smart contracts were developed by NFT production company Manifold. It’s also the team behind another distinctive NFT that was auctioned in April. Artist Mad Dog Jones’ “Replicator,” which automatically replicates what could be hundreds of variants of an NFT that can then be resold. That NFT sold for $4.14 million through art dealer Phillips.