April 11, 2021

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The NFT Ghost Game Aavegotchi Points to the Future of Finance


Courtesy of Aavegotchi

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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

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Dow closes more than 200 points lower as banks sell off, breaks a two-week win streak

The Dow Jones Industrial Average fell on Friday after the Federal Reserve’s decision to not extend a pandemic-era capital break for banks stoked a rise in bond yields and a sell-off in financial stocks.

The blue-chip Dow slid 234.33 points, or 0.7%, to 32,627.97, pressured by Visa and JPMorgan. The S&P 500 dipped 0.1% to 3,913.10, closing off its lowest level of the day when it fell 0.7%. The Nasdaq Composite gained 0.8% to 13,215.24 as investors bought the dip in tech shares. Facebook gained 4%, while Amazon and Netflix rose about 1.5% each.

The central bank on Friday declined

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