Marking the first time a music publication has offered its magazine covers as NFTs, SPIN is auctioning one this week, with more to come
Austin, TX – March 14, 2022 – SPIN today unveiled its NFT marketplace at SXSW, with an inaugural auction featuring a cover by Machine Gun Kelly. The legendary publication is the first to make its covers available to fans.
The NFTs are limited, with only three issued: to the winning bidder, the featured artist, and a nonprofit of the artist’s choosing. Two will be held in SPIN and NAX’s treasury. Additional covers, as well as art pieces, will be placed up for auction over the course of 2022.
“We’re excited to bring these famous pieces to the NFT space. It’s an easy entry point for fans to begin collecting scarce and coveted digital offerings, while providing artists we’ve partnered with a simple onramp into the space with existing work,” said Jimmy Hutcheson, CEO of SPIN.
Bidders can buy these rare NFTs by credit card at SPINnft.xyz. The auction opens today at 6:00PM CST during the SPIN NFT Party, held at Algorand’s event at AlgoRanch in Austin. The auction will close at SPIN’s official SXSW party 8:00PM-2:00AM CST on Thursday, March 17.
NAX leverages untapped corporate assets to create new markets and ecosystems at scale. From seed to securitization, the company actualizes these initiatives with its exchange Members. NAX is headquartered in Manhattan Beach, CA, with offices in Palo Alto, New York, London, Paris, Zurich, and Frankfurt. www.naxgrp.com.
About SPIN Magazine
SPIN is one of the most recognizable names in music journalism and pop culture. In early 2020 SPIN launched a new generation for the legendary media group. Recent covers have featured some of today’s biggest stars coupled with in-depth interviews, merchandise, and original video content.
Algorand is building the technology to power everything from the creator economy to the convergence of traditional and decentralized finance. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for anyone to transition into the digital economy. www.algorand.com.