CannCentral Parent Company Sells NFT's Of Nine Historic Magazine Covers Featuring Grimes, Drake & Seth Rogen

Media Central Corporation, Inc. FLYY (FSE:3AT), the company behind the cannabis platform CannCentral.com, is selling NFTs (Non-Fungible Tokens) of nine iconic magazine covers published by NOW Magazine and the Georgia Straight as collectibles featuring Grimes, Drake, Seth Rogan and more Canadian artists.

Based in Toronto, the company said Tuesday that this move aligned with its strategy to develop new digital revenue models to diversify its revenue streams and showcase its news products' quality.

NFTs are a new type of investment supported by blockchain-created authenticity for digital assets such as a piece of art. The company further explained that they represent an extension of investments consumers have made in collectibles such as baseball trading cards, Beanie Babies and Pokemon cards.

Those who purchase NOW Magazine or Georgia Straight NFTs will own a record and a hash-tag code showing a unique token associated with their purchase, which can be re-sold based on its market-based appreciation.

"The investment value and appreciation of NFTs has become better understood over time," said Emmanuel Manos Pavlakis, chairman of Media Central's board of directors. "As we track the rapid evolution of media, it is evident that crypto as a currency and the blockchain as a secure place to record and store transactions will play a role in the future of media and the purchasing habits of consumers."

All Media Central NFTs are sold using Ethereum cryptocurrency stored in a "digital wallet" that can be found at metamask.io.

In addition, all purchases are made in an auction, while there is no opening bid. Media Central will decide on which bids are accepted as they are placed.

Photo: Courtesy of Ekrulila from Pexels