Paris Match, a French magazine, is auctioning off 75 iconic archive photos as Ethereum (ETH) non-fungible tokens (NFTs) to celebrate its 75th anniversary.
The auction started on June 17 and featured a curated selection of historic images from the Paris Match archives.
These include snapshots of entertainment icons such as The Rolling Stones, Jack Nicholson, Orson Welles and John Travolta. Depictions of important historical moments such as the fall of the Berlin Wall and scenes from Harlem and the Tour de France are also included.
Each NFT purchase includes a numbered and signed physical print of the same photo, bridging the gap between traditional art collecting and digital ownership. Bidding for each photo starts at 0.3 ETH, which equates to approximately $1,062 at current rates.
This initiative marks Paris Match’s second venture into the NFT realm, following a successful sale of 120 unique NFTs in January 2023. The magazine has partnered with photo NFT platform Focus Bloc and SuperRare for this auction.
According to CryptoSlam, global NFT sales volume increased 45% to $19.25 million in the past 24 hours, with Ethereum leading the way with sales of $7.19 million, followed by Polygon and Bitcoin (BTC).
As of the last update, Ethereum (ETH) is trading at $3,492.60, marking a 7% price drop in the past month.
Paris Match’s decision to embrace NFT technology and auction its iconic photo archives reflects its commitment to preserving its cultural heritage while adapting to the digital age.
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Discover Ethereum ETF Approval, Experts Weigh In
According to analysts, the approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC) is expected to have a significant impact on the price of Ethereum. Experts predict that Ethereum could see a 60% to 75% increase, similar to Bitcoin’s performance after ETF approval.
Analysts at Standard Chartered predict that Ethereum could reach $8,000 by the end of 2024, driven by an estimated $45 billion inflows into Ethereum ETFs within the first year. Meanwhile, other experts like Raoul Pal predict that Ethereum could reach $17,000 to $20,000 during the next bull cycle.
In the world of NFTs, Ethereum has a dominant position, capturing 72.3% of the market share with a trading volume of $8.54 billion in 2023.
This leadership is attributed to Ethereum’s early adoption in the NFT sector, supported by a robust developer community and an extensive ecosystem tailored to creating and trading NFTs.
However, Ethereum faces increasing competition from emerging blockchains such as Solana, Bitcoin and Immutable
Ethereum’s strength in NFTs is amplified by its established infrastructure and widespread recognition. The platform offers numerous NFT marketplaces and tools, making it a preferred choice for developers looking to create advanced and dynamic NFTs.
Despite these benefits, Ethereum faces scalability issues, which are being addressed through initiatives such as moving to a proof-of-stake consensus (PoS) mechanism and implementing layer 2 solutions such as rollups to improve performance.
Solana, on the other hand, differentiates itself from other blockchains by offering lower gas fees and faster transaction speeds, positioning itself as a strong challenger to Ethereum.
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