American entertainment magazine Playboy has just announced the launch of an online art gallery in the form of non-fungible tokens.
To that end, it has partnered with Ethereum-based platform Nifty Gateway, one of the leading NFT marketplaces.
It will feature an extensive collection of art and photography that spans almost 70 years.
We are thrilled by all of the innovation and access the blockchain can bring, and a big piece of our work will be supporting artists as collectors and via upcoming grants. We're here to learn, support the community and innovate together.
Alex DovbnyaA change in the brand's image
The magazine has gone in a more progressive direction since the family of late Hugh Hefner sold its last shares in Playboy Enterprises back in August 2018, with a crew of millennial editors giving it a new look.
Long after its heyday in the 1970s, the iconic magazine is now trying to reinvent itself and find new audiences with NFTs.
Rachel Webber, Playboy's chief brand officer, told Business Insider that she sees NFTs as an "enormous" business opportunity:
We see the digital asset revolution as an enormous business opportunity. We see huge growth potential in integrating tokens into our streetwear business, our live experiences, and events, creating a social token economy with our network of talent.
Arman Shirinyan
Vladislav Sopov
Dan Burgin