Publishing

Time’s Bot-Fueled NFT Drop Highlights Limits With the Market

The publisher still believes in the NFT revolution

Time’s Bot-Fueled NFT Drop Highlights Limits With the Market
With so many buyers hunting down Time’s pieces, the Etherum blockchain transaction price, known as gas fees, went sky-high.Time, Paula Daniëlse/Getty Images
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By Lucinda Southern

September 27, 2021

Last Thursday, Time Magazine sent out a release flagging that its initiative, a randomized drop of non-fungible tokens of original works by more than 40 artists, broke records by selling out all 4,676 pieces in two minutes. 

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Headshot of Lucinda Southern

Lucinda Southern

Lucinda Southern is Adweek's media editor.

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