The market for non-fungible tokens is evolving

JOURNALISM IS ABOUT telling a story, rather than living it. Yet sometimes these two realities collide. When a new technology shows promise, trying it out can help tell the story. In September we wrote that non-fungible tokens (NFTs) and the crypto infrastructure they sit on could in time transform finance and the digital economy. Our cover image that accompanied the article, inspired by “Alice in Wonderland”, shows Alice tentatively peering over the edge of the rabbit hole, into this weird new world.

Now she is part of it. On October 25th The Economist auctioned an NFT of that cover image, raising 99.9 ether (around $420,000) for charity. In addition to raising money for a good cause, the sale allowed us to grasp more fully the potential of the technology.