Despite the current global non-fungible token (NFT) market slump, the South China Morning Post’s first collection of NFTs sold out in two hours on Monday, reports the South China Morning Post. The collection, which included news archives from Hong Kong in 1997, is the first step in the newspaper building an “ecosystem of historical NFTs.”
Named “1997 Premium Series,” the collection includes 1,300 “mystery boxes,” each containing five randomly selected NFTs produced by the SCMP. The NFTs feature the newspaper’s coverage of 1997’s momentous events, including the handover ceremony of Hong Kong from British to Chinese rule, the Asian financial crisis, the Avian flu outbreak, and the deaths of Princess Diana and former Chinese paramount leader Deng Xiaoping.
The second part of the series, featuring news archives from events in the second half of 1997, will be released next month.