DW Launches NFT Press Freedom Auction | Business | Economic and financial news from a German point of view | DW
Freedom of the press is threatened in many parts of the world. In a likely nod to this, Maria Ressa from the Philippines and Dmitry Muratov from Russia were awarded the Nobel Peace Prize in 2021. Investigative journalists were honored for their commitment to free speech as precondition for democracy and lasting peace.
Currently, 339 journalists around the world are behind bars, along with around 100 bloggers, citizen journalists and media workers, according to the organization Reporters Without Borders (RWB). That’s a big increase from 2020, a record year in itself. In addition to those imprisoned, more than 30 journalists have been killed in 2021 to date.
Being a journalist can be dangerous, as Maria Ressa and Dmitry Muratov have experienced many times
Auction for freedom of the press
To show our respect to our colleagues around the world, DW has produced a video featuring “freedom of the press” written in 30 languages in which our organization works. We are launching an auction of this video, the profits of which will be donated to Reporters Without Borders.
Our initiative was motivated by a desire to learn more about a promising phenomenon: the video we are auctioning is backed by a so-called non-fungible token (NFT).
NFTs could be described as a digital certificate of authenticity. Technology confirms that digital data, which can usually be freely copied, is an original work, which distinguishes it from copies. The whole concept works on the basis of blockchain technology, the same technology that hosts cryptocurrencies like Bitcoin.
Millions of pixels
NFTs have created a huge hype lately, with some digital originals changing hands for incredible sums of money. In March of this year, a collage of digital images by American artist Beeple was auctioned off for some $ 69 million (60 million euros), making the little-known Beeple the third most expensive living artist behind. Jeff Koons and David Hockney. It was the first time that Christie’s, the famous auction house, had agreed to auction a non-fungible token.
But most NFTs are auctioned on specialized Internet platforms. There is also a lot of money there. You can buy, for example, a self-portrait of whistleblower Edward Snowden, video clips from sporting events, or internet memes such as videos featuring cats. But there is also real art. Even the New York Times one-page NFT with a text on the digital art phenomenon that raked in record revenue.
Nothing goes without this digital platform for DW’s NFT auction
In future articles, we’ll explain how the technology behind NFTs works and what experiences we’ve had with it. We’ll also look at why some people place high hopes in NFTs while others see them as Ponzi schemes and climate killers.
DW’s NFT is called PressFreedomX30 and is intended to provide us with an overview of the NFT phenomenon. We hope it will be an exciting experience, just like the first eBay sale in 1995 or a test drive in the first Tesla car in 2008.
If you want to participate in the auction, you will need a digital wallet that accepts Ether. And here is the link to the auction:
Our auction will start on November 16, 2011 at 5:00 p.m. (CET). The auction ends 24 hours after the first auction.
The proceeds (minus the costs for the auction platform) go to Reporters Without Borders (RWB Germany). The non-governmental organization documents press freedom violations around the world and supports persecuted journalists.
This article was adapted from German.