Fortune donates profits from NFT sale to journalism organizations

Good morning.

Fortune’s successful first foray into the NFT market, selling digital variations on our recent “Crypto vs. Wall Street” magazine cover, is enabling us to provide some needed support to journalists around the world. We and the digital artist pplpleasr are donating part of our new cryptocurrency stash—209 ether, to be exact—to four worthy organizations that support a free press and public service journalism: Reporters Without Borders, The GroundTruth Project, The Institute for Nonprofit News and The Committee to Protect Journalists.  At current ether prices, the donations will amount to about $165,000 per organization.

All of this has been a hands-on education in cryptocurrency and decentralized finance for us at Fortune. We partnered with pplpleasr to create and sell the NFTs last month, accepting only ether as payment. Together, we also created the FORTUNE Journalism Pleasr Fund, run entirely on the Ethereum blockchain, through Endaoment, which is the first 501(c)3 nonprofit that is fully “on chain.”

It’s no secret that the economic support system for great journalism has been challenged over the last two decades, and that journalists around the world are increasingly under attack from oppressive and authoritarian regimes. Fortune and pplpleasr are happy to do our part to help. We invite others who wish to support good journalism in the public interest to make their own donations, in cryptocurrency or via PayPal, on the donation page here.

Alan Murray

Correction, Sept. 20, 20121: A previous version of this newsletter misstated the amount of our cryptocurrency donation.

Published By : Fortune

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