Paris Match auctions NFTs to commemorate the magazine’s 75th year

To celebrate its 75th anniversary, French magazine Paris Match is auctioning 75 iconic archive photographs as non-fungible tokens (NFTs) on Ethereum (ETH).

The auction started on June 17 and featured historical images selected from the Paris Match archives.

These include snapshots of entertainment icons such as The Rolling Stones, Jack Nicholson, Orson Welles and John Travolta. There is also footage of important historical moments such as the fall of the Berlin Wall, as well as scenes from Harlem and the Tour de France.

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. Bidding for each photo starts at 0.3 ETH, which is equivalent to approximately $1,062 at current exchange rates.

This initiative represents Paris Match’s second foray into the NFT space, following the successful sale of 120 unique NFTs in January 2023. The magazine collaborated with photo NFT platform Focus Bloc and SuperRare for this auction.

According to CryptoSlam, global NFT sales volume increased by 45% in the last 24 hours to $19.25 million; Ethereum is ahead with sales of $7.19 million, followed by Polygon and Bitcoin (BTC).

As of the latest update, Ethereum (ETH) is trading at $3,492.60, marking a 7% price decline 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.

Spot Ethereum ETF approval, experts evaluate

According to analysts, the approval of spot Ethereum 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% increase, similar to Bitcoin’s performance after ETF approval.

Standard Chartered analysts predict that Ethereum could reach $8,000 by the end of 2024, based on an estimated $45 billion inflow into Ethereum ETFs in 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 NFT world, Ethereum holds a dominant position, capturing 72.3% of the market share with $8.54 billion in transaction volume in 2023.

This leadership is attributed to Ethereum’s early adoption in the NFT industry, supported by a robust developer community and a comprehensive ecosystem designed specifically for NFT creation and trading.

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 a multitude of NFT marketplaces and tools, making it a preferred option for developers aiming to create advanced and dynamic NFTs.

Despite these advantages, Ethereum faces scalability challenges, which are being addressed by initiatives such as the transition to a proof-of-stake (PoS) mechanism and the implementation of layer-2 solutions such as rollups to improve performance.

In contrast, Solana distinguishes itself from other blockchains by positioning itself as a strong competitor to Ethereum by offering lower gas fees and faster transaction speeds.