How the auction of our NFT cover went

The sale raised nearly $422,000 for charity

10/27/2021 1:43:00 AM

Our NFT auction raised 99.9 ether, equivalent to nearly $422,000

The sale raised nearly $422,000 for charity

N SEPTEMBERour “Alice in Wonderland” themed cover sent Alice down the rabbit hole, into the weird world of non-fungible tokens (NFTs), cryptocurrencies and blockchains. The new technology, the accompanying story argued, contained promise for all sorts of digital and financial activities. To grasp it better, we resolved to follow Alice down the rabbit hole. On October 25th we began an auction of

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an NFTof that cover. Just over a day later, after a flurry of late bids, the auction closed. It had raised 99.9 ether, equivalent to nearly $422,000 (see chart). The winning bid, less fees, transaction costs and potential tax liabilities, will be donated to

The Economist Educational Foundation, an independent charity that teaches young people to analyse current affairs.It turns out that the cover’s description of this new world was bang-on. We asked @9x9x9, the alias of the successful bidder, to comment after the sale. They began trading and collecting NFTs almost three months ago, spending many hours a day researching and buying different tokens. One of the main reasons they bought the cover, which seeks to capture the sense of adventure and novelty of this world, was the aptness of the phrase “Down the rabbit hole”. The market for NFTs, which are records of digital media on a blockchain, is burgeoning. Last year it was worth just $340m. In August the total value of NFTs held on the Ethereum blockchain was in the region of $14bn, according to DappRadar, a research firm. The use of the tokens, already evolving, could expand well beyond collectables, into the realm of high finance. headtopics.com

Read more: The Economist »

Neloangelo314 watch the price... 👀👀👀 Taking environmental costs, converting them into 'charitable' contributions and then skimming some off the top in tax deductions. That is peak Economist right there.

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The market for non-fungible tokens is evolvingThe Economist has created an NFT of our “Down the rabbit hole” cover. The auction to buy it is now live. Proceeds will be donated to Econ_Foundation 💡 I received my withdrawal successfully. I must say being an investor with this platform, is one of the greatest thing i have ever happened to me. I recommend everyone to this lifetime investment project good investment company tatiana_alek Undisputable fact!

5 Ways Brands Can Level Up Their NFT KnowledgeAs NFTs evolve, so should a brand’s understanding of the role NFTs play in the metaverse. Here are 5 upcoming events that no brand can afford to miss as professionals and executives seek to educate themselves on what’s to come. wow

Burberry Bridges NFT With Physical Limited-Edition Scarf Ahead Of Alibaba Singles’ DayTmall launches a Metaverse Art Exhibition featuring Burberry's NFT. Curated by a virtual influencer, selected NFTs will be available to purchase as part of Singles' Day sales. Despite China's cryptocurrency crackdown, brands continue to navigate the NFT space to connect with the 'art-lennials'. fuck NFTs. just commission an artist if you want unique digital art

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