DeFi themed magazine "The Economist" covers the first NFT auction

The famous British magazine "The Economist" uses DeFi themed covers like NFT. The contest begins October 25 at 12:00 p.m. EST. The competition will last at least 24 hours.

The cover, titled "Down with the Rabbit: The Promise and the Stock Exchange Catastrophe" (Down with the Rabbit: The Promise and the Financial Management Catastrophe), was copied and was released on September 18 and is a book about Alice. in wonderland, Alice and the surroundings of the rabbit. Describe the scene. The edge of the rabbit hole with a golden token floats on it. The paintings are based on Sir John Tenniel's first paintings Alice in Wonderland (1865) by digital artist Justin Metz.

This is the first NFT published by Economist whose mission is to demonstrate the potential of decentralized technology. Proceeds from the sale of deductions, exchange rates and taxes are donated to the Economist Education Foundation (TEEF), an independent advocacy organization focused on journalism. The newspaper will save 10% of the proceeds from the second NFT sale in the future, and the proceeds will also be donated to TEEF.

According to The Economist, NFT could be the popular candidate for "Lord of the Year" in the Oxford English Dictionary in 2021.

During the NFT auction, economist Zanny Minton explained the cover of this issue: The encrypted process it is in can transform financial and digital transactions. The cover we refer to in the article is based on a description of the first issue of "Alice in Wonderland" and shows Alice out of the rabbit hole, looking at the edge. The new world is strange. "

Newspapers noted that so-called decentralized finance (DeFi) can streamline the way financial operations work, which comes with a variety of commitments and risks. “The expansion of new developments in DeFi is similar to the need to create in the early stages of the Internet. In an age when people live online, changes are taking place. Cryptography can also be used to revitalize digital businesses.