The popular men’s fashion magazine GQ is set to release its first non-fungible token (NFT) collection next month. The NFTs will come with real-life rewards like tokenized access to the magazine subscription, live events, and exclusive merchandise.
The NFT collection, “CQ3 Issue 001: Change Is Good,” consists of 1,661 NFTs linked to 1:1 digital assets, created by famous artists Chuck Anderson, Kelsey Niziolek, REO, and Serwah Attafuah. To design the NFTs, each artist created over 100 unique traits that were then algorithmically merged to create unique NFTs.
Other rewards for holding a Change is Good NFT include a curated GQ box of products and a highly coveted ticket to the inaugural GQ3 party this April. Holders will also receive priority access to future releases from the magazine, and access to a Discord channel for its Web3 community.
The NFTs are priced at 0.1957 ETH (around $340 each) — a reference to the year the magazine was founded. The collection mint begins on March 8th for allowlist members who are active in GQ’s Discord, before being open to the public.
The NFT collection marks GQ’s first foray into Web3, but it isn’t the only media print company to do so. In June 2021, CNN launched an NFT marketplace called Vault that shut down a few months later. Time Magazine has had more success with several Web3 projects, including an NFT collection and a full-length NFT magazine.
NFT Projects Tied to Real-Life Perks
GQ tying its NFT collection to real-life perks such as a magazine subscription and live events is exciting for fans. But the men’s health magazine isn’t the only brand to tie digital assets to real-life products and rewards. At Rarity Sniper, we’ve written several stories about similar projects. Here are some of the most recent stories.
First, four months ago, South Korean pop group Aespa dropped an NFT collection in collaboration with L.A.-based 3D artist Blake Kathryn. The NFTs are tied to real-life artwork and autographs from the group, digital meetups, and even an IRL meet-and-great and flight to South Korea see the group perform live.
Next, five months ago, Spartan, a company that organizes some of the most difficult physical competitions in the world, launched an NFT collection tied to membership and other perks. The 15,000 piece NFT collection called “Unbreakable” grants holders access to an annual conference and the ability to join all Spartan brand events.
Lastly, the global hospitality company IHG Hotels & Resorts launched an NFT collection designed by contemporary British artist Claire Luxton. The collection grants holders Intercontinental Ambassador status for a year, a one-night stay at the Intercontinental Rome Amasciatory Palace, and real-life artwork from Luxton.
Because NFTs can be linked to almost anything, the technology is can be useful across a myriad of sectors, including print media. While the rise of Web2 put a dent in magazine subscriptions, Web3 technology could help bring some of that revenue back. We’ll be following up in March to see how GQ’s first NFT mint goes. If it’s a success, we imagine it won’t be its last.