Biz Flirts With Financial Wild West.

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  • Author(s): Finney, Angus (AUTHOR)
  • Source:
    Variety. 9/15/2022, Vol. 357 Issue 10, p66-68. 3p. 3 Color Photographs.
  • Additional Information
    • Subject Terms:
      CRYPTOCURRENCIES; NON-fungible tokens; BLOCKCHAINS; BUSINESSPEOPLE; DIGITAL rights management
    • Abstract:
      No doubt he would be turning in his grave at today's alliance of computer programs, tech companies and digital artists clustering together to create non-fungible tokens (NFTs). If the Terra price went above $1, investors could take Luna coins out of circulation (a practice called burning) in exchange for new TerraUSD coins, which brought the cost back to $1. That set off a "death spiral", as people switched Terra into Luna, which hammered the price of Luna. [Extracted from the article]
    • Abstract:
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