Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ
A non-fungible token is a special type of cryptographic token which represents something unique. NFTs are called non-fungible because they are not mutually interchangeable, since they contain unique information, although it is possible to mint any number of NFTs representing the same object.
In the past decade, wind power capacity has tripled, and it’s projected to double in the decades to come. Wind is now America’s top renewable source of electricity generation, and the domestic offshore industry is finally taking off, as major manufacturers debut ever larger and more powerful turbines. While the industry faces some challenges with permitting, public opposition from various interest groups, and the obvious intermittency issues, there’s no doubt that wind is poised to play a major role in the energy transition. The question is just how fast it will grow.
The Paris Club, comprising 22 wealthy countries, provides a platform for governments facing financial difficulties to reduce and renegotiate their debt repayments. Formed in 1956, it has signed more than 400 agreements to date, worth more than half a trillion dollars to about 100 countries. As public debt soars in the wake of the pandemic, CNBC’s Timothyna Duncan breaks down how this exclusive club functions and the challenges it faces to stay relevant.
Health passports were something we had barely heard of a year ago, but now, everyone is talking about them. Some form of passport or proof of health status is likely to be a lasting legacy of Covid-19. But what are they, how do they work, and how will they affect the way we travel?
Thanks to a parliamentary contortion called reconciliation, the $1.9trn covid-relief plan is likely to sail through—we examine what is in it and what its passage portends for lawmaking in the Biden era.
Unrest is unusual in Senegal, but citizens are out in force; we ask about the roots of the protest mood. And what ever happened to bespoke ringtones?
While Iran says it isn’t trying to build nuclear weapons, a look at its key facilities suggests it could develop the technology to make them. WSJ breaks down Tehran’s capabilities as it hits new milestones in uranium enrichment and limits access to inspectors. Photo illustration: George Downs
As the pandemic changes how — and where — professionals work, some smaller cities and regions are offering hefty relocation incentives to attract remote workers to help jumpstart their local economies. WSJ met one family who accepted an offer to make a new home in the Ozarks. Photo: Craig Kauffman for the Wall Street Journal
The meltdown at a nuclear power station in Fukushima, Japan, ten years ago stoked anxieties about nuclear energy. But nuclear is one of the safest, most reliable and sustainable forms of energy, and decarbonising will be much more difficult without it.
Shopping malls in the U.S. were already in decline before the Covid-19 pandemic as consumers shifted away from traditional brick-and-mortar stores to e-commerce. The outbreak has only exacerbated the challenges at malls as social distancing has placed restrictions on stores, movie theaters and restaurants.
So what will become of malls in America after the pandemic ends? Shopping malls across the U.S. have been reeling as restaurant and retail tenants struggle to keep their doors open. Data compiled by Coresight Research shows about a quarter of U.S. malls could close over the next three to five years, accelerating a trend that began before the pandemic.
Simon Property Group — the nation’s biggest mall owner — said earlier this month that its fourth-quarter revenue dropped by 24% on a year-over-year basis to $1.1 billion. However, some analysts think Simon — with its portfolio of A-rated malls and a healthy balance sheet — will benefit as distressed malls operated by its rivals close their doors. The company is also expected to see gains from new additions like hotels and luxury residences.
“Unfortunately there are a lot of centers that don’t fit that high profile and that have lost their competitive edge,” said Piper Sandler analyst Alexander Goldfarb. “The thing about Simon is they’ve been really focused on maintaining it, and that’s both been through a combination of culling the lower productive centers as well as making sure that they keep investing in their top centers.”
Simon Property Group CEO David Simon said the company is also getting a lift from increasing traffic at some of its locations and from tenants paying their rent on time. Malls are a big tax driver for the communities they serve and employ lots of people locally. Watch the video above to find out more about the struggles U.S. malls face and what could become of them after the pandemic ends.
After almost four years of planning the start of the 36th America’s Cup is just days away. And while Auckland remains in lockdown, both teams have been able to continue testing and training. Matt Sheahan reports on what they have been up to as the clock counts down and discovers some interesting developments with Emirates Team New Zealand and a few surprising revelations at Luna Rossa Prada Pirelli.
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