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Paris Partya French magazine, is auctioning 75 iconic archival photographs as ethereum (eth) non-fungible tokens (nfts) to celebrate its 75th anniversary.
The auction started on nft-photo-par-paris-match-et-focus-bloc-sur-superrare-75-ans-dicones-photographiques-238638?at_medium=Fan+Page&at_campaign=twitter+&at_creation=Paris+Match” data-type=”link” data-id=”https://www.parismatch.com/culture/art/vente-aux-encheres-de-nft-photo-par-paris-match-et-focus-bloc-sur-superrare-75-ans-dicones-photographiques-238638?at_medium=Fan+Page&at_campaign=twitter+&at_creation=Paris+Match” target=”_blank” rel=””>June 17 and showcased 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. Also included are images of significant historical moments such as the fall of the Berlin Wall and scenes from Harlem and the Tour de France.
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Each nft purchase will include a numbered and signed physical print of the same photograph, bridging the gap between traditional art collecting and digital ownership. The bid for each photo starts at 0.3 eth, equivalent to approximately $1,062 at the current price.
This initiative marks Paris Match's second foray into the nft space, following a successful sale of 120 unique nfts in January 2023. The magazine has partnered with nft photography platform Focus Bloc and SuperRare for this auction.
According to CryptoSlam, the global nft sales Volume has seen a 45% increase to $19.25 million in the last 24 hours, with ethereum leading the sales with $7.19 million, followed by Polygon and bitcoin (btc).
As of the latest update, ethereum (ethereum” target=”_blank” rel=””>eth) is trading at $3,492.60, which is a 7% price drop over the last month.
Paris Match's decision to embrace nft technology and auction off its iconic photographic archives reflects its dedication to preserving its cultural legacy while adapting to the digital age.
Spot ethereum ETF approval, experts say
According to analysts, the approval of ethereum spot ETFs by the US Securities and Exchange Commission (SEC) is expected to significantly impact the price of ethereum. Experts predict that ethereum could see a 60% to 75% rise, similar to bitcoin's performance after the ETF approval.
Standard Chartered Analysts ethereum-reaching-8000-amid-upcoming-etf-approval-1365919″ target=”_blank” rel=””>forecast ethereum could reach $8,000 by the end of 2024, driven by an estimated $45 billion influx into ethereum ETFs in the first year. Meanwhile, other experts like Raoul Pal ethereum-to-20000-by-march-at-the-latest/” target=”_blank” rel=””>predict ethereum could reach between $17,000 and $20,000 during the next bull cycle.
In the world of nfts, ethereum occupies a dominant position. capturing 72.3% of market share with a trading volume of $8.54 billion in 2023.
This leadership is attributed to the early adoption of ethereum in the nft sector, supported by a strong developer community and an extensive ecosystem designed for the creation and trading of nfts.
However, ethereum faces increasing competition from emerging blockchains such as Solana, bitcoin, and Immutable x, which are gaining traction as viable alternatives.
ethereum's strength in nfts is reinforced by its established infrastructure and widespread recognition. The platform offers numerous nft marketplaces and tools, making it the preferred choice for developers looking to create sophisticated and dynamic nfts.
Despite these advantages, ethereum faces scalability challenges, which are addressed through initiatives such as transitioning to a proof-of-stake (PoS) consensus mechanism and implementing layer 2 solutions, such as rollups, to improve the performance.
In contrast, Solana distinguishes itself from other blockchains by offering lower gas fees and faster transaction speeds, positioning itself as a strong rival to ethereum.
