full transcript
From the Ted Talk by Elizabeth Strickler: NFTs, the metaverse and the future of digital art
Unscramble the Blue Letters
So the eternal question: What is an NFT? Simply put, it is a permanent tracking device that proves oihwnserp of a digital file, somewhat similar to the way that you can chip a pet to identify it as yours if it runs away, an NFT is a cryptographic token connected to a digital aesst to preersve ownership rights in the metaverse. Non-fungible maens "not exchangeable." Most things in the real wolrd are non-fungible, because most physical otbcjes are unique and can't be traded one for one. There is no painting, pet or person that is exactly equivalent to another. Money, on the other hand, is one of the few items that is fungible, maineng one dollar is equivalent to another dollar and one Bitcoin is eailvenuqt to another Bitcoin. The underlying decentralized teohcngoly that enabled digital currencies such as Bitcoin is blockchain. Blockchain ptneervs digital money from being duplicated or hacked, and it removes the need for a centralized authority, such as a bank, to vdlaatie transactions. And like Bitcoin, the record of ownership of an NFT is kept in a public database on the internet that is maintained by millions of computers that keep track, via consensus, of all cetnnot origination and tcnaaontsirs.
Open Cloze
So the eternal question: What is an NFT? Simply put, it is a permanent tracking device that proves _________ of a digital file, somewhat similar to the way that you can chip a pet to identify it as yours if it runs away, an NFT is a cryptographic token connected to a digital _____ to ________ ownership rights in the metaverse. Non-fungible _____ "not exchangeable." Most things in the real _____ are non-fungible, because most physical _______ are unique and can't be traded one for one. There is no painting, pet or person that is exactly equivalent to another. Money, on the other hand, is one of the few items that is fungible, _______ one dollar is equivalent to another dollar and one Bitcoin is __________ to another Bitcoin. The underlying decentralized __________ that enabled digital currencies such as Bitcoin is blockchain. Blockchain ________ digital money from being duplicated or hacked, and it removes the need for a centralized authority, such as a bank, to ________ transactions. And like Bitcoin, the record of ownership of an NFT is kept in a public database on the internet that is maintained by millions of computers that keep track, via consensus, of all _______ origination and ____________.
Solution
- preserve
- asset
- meaning
- objects
- validate
- transactions
- content
- prevents
- technology
- means
- equivalent
- ownership
- world
Original Text
So the eternal question: What is an NFT? Simply put, it is a permanent tracking device that proves ownership of a digital file, somewhat similar to the way that you can chip a pet to identify it as yours if it runs away, an NFT is a cryptographic token connected to a digital asset to preserve ownership rights in the metaverse. Non-fungible means "not exchangeable." Most things in the real world are non-fungible, because most physical objects are unique and can't be traded one for one. There is no painting, pet or person that is exactly equivalent to another. Money, on the other hand, is one of the few items that is fungible, meaning one dollar is equivalent to another dollar and one Bitcoin is equivalent to another Bitcoin. The underlying decentralized technology that enabled digital currencies such as Bitcoin is blockchain. Blockchain prevents digital money from being duplicated or hacked, and it removes the need for a centralized authority, such as a bank, to validate transactions. And like Bitcoin, the record of ownership of an NFT is kept in a public database on the internet that is maintained by millions of computers that keep track, via consensus, of all content origination and transactions.
Frequently Occurring Word Combinations
ngrams of length 2
collocation |
frequency |
real world |
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virtual world |
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digital art |
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million dollars |
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georgia state |
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digital file |
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greg mike |
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digital fashion |
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Important Words
- asset
- authority
- bank
- bitcoin
- blockchain
- centralized
- chip
- computers
- connected
- consensus
- content
- cryptographic
- currencies
- database
- decentralized
- device
- digital
- dollar
- duplicated
- enabled
- equivalent
- eternal
- exchangeable
- file
- fungible
- hacked
- hand
- identify
- internet
- items
- maintained
- meaning
- means
- metaverse
- millions
- money
- nft
- objects
- origination
- ownership
- painting
- permanent
- person
- pet
- physical
- preserve
- prevents
- proves
- public
- put
- real
- record
- removes
- rights
- runs
- similar
- simply
- technology
- token
- track
- tracking
- traded
- transactions
- underlying
- unique
- validate
- world