The $69 million sale at auction of a collage by the creator known as Beeple has drawn a rush of attention to digital artwork and nonfungible tokens, or NFTs. But the possibilities for NFTs go far beyond extravagant auction prices. Some smaller, less mainstream projects are experimenting with gamified art and decentralized finance, or DeFi. The resulting technology will have a long-lasting impact, potentially even for traditional financial products like real estate investment trusts.
The DeFi movement aims to create financial tools that minimize, or altogether remove, the need for intermediaries. Where DeFi, art, and