Forbes, the business magazine best known for its list of up-and-coming changemakers, has minted its 2024 ’30 Under 30’ class onto the Ethereum blockchain. Called “Forbes 30 Under 30 2024,” the collection features 600 non-fungible tokens, each representing a person on the list. Currently, the NFTs are not for sale, with the collection minted just for educational purposes.
According to a Forbes release about the Ethereum collection, the goal was to make sure the achievements and stories of “these remarkable individuals are preserved indefinitely.” In addition, the word “immortalize” was used, showcasing the power of the blockchain to record information far into the future.
The Forbes 2024 30 under 30 class features young people working in a variety of sectors, including artificial intelligence, marketing, the environment, and more. Some of the names in the list include Kendall Jenner, celebrity socialite, Diana Heldfond, CEO of Parallel Learning, Matthew Vega-Sanz, founder of Lula, and Brandon Arvanaghi, CEO of Meow.
Of the desire to mint the class on the blockchain, Vadim Supitskiy, Forbes’ Chief Digital and Information Officer, said the publication is at the forefront of joining traditional media with cutting-edge technology. The collection doesn’t just recognize these young leaders but shows the blockchain’s potential for data storage and security.
Taha Ahmed, Forbes’ Chief Growth Officer, added that this collection is just the beginning, and that Forbes is excited to continue exploring how Web3 tech can be used to share, store, and secure important information.
Forbes Bullish on Web3 Tech
Although many mainstream publications have panned Web3 (and NFTs in particular) Forbes has been one of the few to embrace the space. Through various initiatives, the business magazine has expressed its bullishness on the technology and even featured blockchain leaders in its annual lists of changemakers. Here are two stories we’ve covered about Forbes and Web3.
First, about one year ago, Forbes hosted a Web3 event in The Sandbox. The party allowed people who had subscriptions to the publication to participate in quests and games, and even party on a virtual yacht. Supitskiy, in a statement about the event, said that the goal was to engage users “everywhere they are” and to provide an environment where they could make connections.
Next, two years ago, Forbes released an NFT collection that featured 100 “virtual billionaires.” Each billionaire came complete with a theoretical portfolio, a profile page on the publication’s website, and hobbies. In a nice innovation, the portfolios were attached to real-world assets like Exchange Traded Funds, and Forbes created a leaderboard to track each virtual billionaire’s net worth.
As these stories show, Forbes has been active in Web3, even during a long bear market. Time will tell what surprises it comes up with next but, given its bullishness about the space and the resources it has, future projects are likely to be interesting.
It’s Not All Sunshine for Forbes in Web3 However
Though Forbes’ projects in Web3 are certainly cool and show innovation within the space, the publication has faced a certain amount of criticism from crypto users, often for its selections on lists like 30 Under 30. The most notable pick that Forbes wishes it could take back was Sam Bankman-Fried, the former head of crypto exchange FTX.
Other picks have also eventually fallen under investigation from federal authorities, including Elizabeth Holmes, a biotechnology entrepreneur who was convicted of fraud. In fact, Forbes itself has created a “Hall of Shame” that features 10 people selected to its lists that turned out to be rotten apples.
Of course, Forbes still has its pedigree, being one of the top business magazines around. Never has this been more apparent than a recent scam in the NFT space where a group of social engineers portrayed themselves as Forbes employees to get a seasoned collector to click on a malicious link.
As Forbes has found out, Web3 can be topsy-turvy and scammers are common. That it’s retained its bullishness after all the turmoil is a good sign.