Summary

Read through the following text and look up any vocabulary you are not sure about before answering the questions.

Non-fungible tokens, or NFTs, are unique digital assets. They are frequently used in the realms of art and collectibles, where they can prove the authenticity and ownership of a digital asset.

NFTs are held on a blockchain, a decentralised distributed ledger that enables safe and transparent record-keeping. This makes it difficult to counterfeit or otherwise compromise NFTs.

In recent years, NFTs have garnered significant interest, with some selling for millions of dollars at auction.

NFTs are not, however, without controversy. Some argue that they contribute to the commodification of art and that only wealthy individuals are able to participate in the market.

Others have raised concerns about the environmental impact of the energy-intensive process of creating and storing NFTs on the blockchain. Despite these criticisms, NFTs show no signs of slowing down.

Vocabulary

Try and use the following vocabulary when answering the question. Click to look up the definition in the dictionary
  • authenticity (noun)
  • ownership (noun)
  • intellectual property (noun)
  • aquire (verb)
  • decentralised (adjective)
  • blockchain (noun)
  • significant (adjective)
  • criticism (noun)
  • digital asset (noun)

Let's Talk!

Try and have a conversation for 2-3 minutes answering the following question.
Have you ever heard of NFTs before?

Let's Continue The Discussion

Keep the conversation going with these follow questions related to NFTs
  • What do you think NFTs are used for?
  • Have you ever bought or sold an NFT?
  • Do you think NFTs are a good investment? Why or why not?
  • How do you think NFTs will change the art world?
  • Do you think NFTs are a good way to authenticate digital assets? Why or why not?
  • How do you think NFTs compare to physical collectibles, like stamps or coins?
  • Do you think NFTs will become more or less popular in the future? Why?
  • Do you think NFTs have the same value as physical art? Why or why not?
  • How do you think NFTs could be used in other industries besides art?
  • Do you think NFTs are a good way for artists to make money? Why or why not?
  • Do you think NFTs will replace physical art in the future? Why or why not?

Teacher Resources

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