Outside’s New NFT Marketplace Is Legit — First NFT Coming in June
Outside, known largely for its magazine, is launching a NFT marketplace. Is the NFT marketplace legit? Learn all about the anti-metaverse platform.
April 5 2022, Published 12:07 p.m. ET
Parent company Outside Interactive is well-known for its eponymous Outside and other ventures, but the company is moving into Web 3.0 territory with its new NFT (non-fungible token) platform.
Outside says its new NFT platform will accompany other expansions, like a publishing platform and loyalty program. All of this will be geared towards the outdoors, keeping it on-brand with the larger company. Here are the details of the upcoming Outside NFT marketplace, including whether it’s a legitimate place to invest in alternative assets.
Outside announces it’s launching an NFT marketplace.
Outside, parent company of Outside and Vegetarian Times magazines as well as ski film production company Warren Miller, is making it clear that its upcoming NFT marketplace won't be tied to the metaverse. In fact, Outside calls it the “anti-metaverse.”
Robin Thurston, the CEO of Outside, told reporters, “It is not my goal to get people to spend more time in VR or inside screens.” Instead, the platform’s NFTs will reportedly encourage folks to get outdoors.
When will the Outside NFT marketplace launch and what’s included?
Outside plans to launch its first NFT, a limited-edition token called the Outerverse Passport, in early June 2022. The NFT will include a three-year subscription to Outside+ (you have to hold on to the NFT the whole time to get the maximum subscription amount).
Other benefits will likely include early access to other NFTs and blockchain-based rewards for spending time outdoors (as recorded on Outside’s Gaia GPS product and other fitness trackers).
Eventually, Outside plans to make the NFT marketplace a place for creators. In partnership with cryptocurrency company SuperLayer, the marketplace is expected to become a hub for writers, photographers, and other types of content creators.
Outside NFT marketplace seems legit, but the value of its future NFTs remains speculative.
The Outside NFT marketplace will operate on the Solana blockchain, which makes it different from many mainstream NFTs that utilize the Ethereum blockchain. This is in line with Outside’s mission of sustainability.
Ethereum is in the midst of a long transition from energy-intensive proof-of-work (PoW) consensus to the more efficient proof-of-stake (PoS) consensus. Meanwhile, Solana creators Anatoly Yakovenko and others built the blockchain with a PoS consensus from the jump. This makes it one of the lowest-impact blockchains in a sector that can feel swallowed by its own carbon footprint.
While Outside is a legitimate operation from a generally esteemed business, the future value of its upcoming NFTs remains a speculative bet. The uniqueness of its outdoor-minded utility could set it apart from other digital collectibles. The Outerverse is Outside’s way of leveraging technology to inspire and enable more outdoor participation, healthy eating, connection with the natural world, and sustainability.
As for the latter element, Outside says, “We will be giving 20 percent of the net revenue from our Outerverse Passport and NFT sales to nonprofits in the DEI [diversity, equity, and inclusion] and sustainability fields.” That alone could sway those hesitant about Web 3.0, simply for the benefit of the planet and its people.