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 tnikarcg 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 preervse orwseihnp rghtis in the metaverse. Non-fungible means "not exchangeable." Most things in the real world are non-fungible, because most physical objects are unuqie 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 elvuqeaint to another Bitcoin. The underlying decentralized technology that ebeanld digital currencies such as Bitcoin is bhkciaocln. 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 biicton, the record of ownership of an NFT is kept in a public dabatase on the internet that is maiiatennd by millions of computers that keep tarck, via consensus, of all cneontt origination and transactions.

Open Cloze

So the eternal question: What is an NFT? Simply put, it is a permanent ________ 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 ________ _________ ______ in the metaverse. Non-fungible means "not exchangeable." Most things in the real world are non-fungible, because most physical objects are ______ 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 __________ to another Bitcoin. The underlying decentralized technology that _______ digital currencies such as Bitcoin is __________. 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 _______, the record of ownership of an NFT is kept in a public ________ on the internet that is __________ by millions of computers that keep _____, via consensus, of all _______ origination and transactions.

Solution

  1. unique
  2. enabled
  3. maintained
  4. database
  5. rights
  6. tracking
  7. preserve
  8. content
  9. track
  10. bitcoin
  11. equivalent
  12. ownership
  13. blockchain

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 3
virtual world 2
digital art 2
million dollars 2
georgia state 2
digital file 2
greg mike 2
digital fashion 2

Important Words

  1. asset
  2. authority
  3. bank
  4. bitcoin
  5. blockchain
  6. centralized
  7. chip
  8. computers
  9. connected
  10. consensus
  11. content
  12. cryptographic
  13. currencies
  14. database
  15. decentralized
  16. device
  17. digital
  18. dollar
  19. duplicated
  20. enabled
  21. equivalent
  22. eternal
  23. exchangeable
  24. file
  25. fungible
  26. hacked
  27. hand
  28. identify
  29. internet
  30. items
  31. maintained
  32. meaning
  33. means
  34. metaverse
  35. millions
  36. money
  37. nft
  38. objects
  39. origination
  40. ownership
  41. painting
  42. permanent
  43. person
  44. pet
  45. physical
  46. preserve
  47. prevents
  48. proves
  49. public
  50. put
  51. real
  52. record
  53. removes
  54. rights
  55. runs
  56. similar
  57. simply
  58. technology
  59. token
  60. track
  61. tracking
  62. traded
  63. transactions
  64. underlying
  65. unique
  66. validate
  67. world