The Economist Magazine Plans to Sell its DeFi Front Cover As an NFT
The Economist, the venerable British magazine, has announced a plan to auction off the front cover of its September 18 edition as a non-fungible token (or NFT).
The cover — which parodied a scene from Alice in Wonderland by placing Alice and the white rabbit on the verge of a rabbit hole filled with tokens — will be sold on October 25. It was converted into an NFT with the help of the platform Foundation.
Proceeds from the sale — minus fees, transactions costs and taxes — will go The Economist Educational Foundation (TEEF), an independent charity focused on news. The magazine will retain a 10% stake in the royalties generated by future secondary sales of the NFT, with proceeds also going to TEEF.
