Vocabulary

📝

Fungible

/fun-ji-bul/

"Interchangeable (Dollar)."

📝

Token

/toh-ken/

"Digital unit."

📝

Bubble

/bub-ul/

"Price too high."

📝

Mania

/may-nee-uh/

"Crazy hype."

📝

Collectibles

/kuh-lek-ti-buls/

"Items kept."

📝

Authenticity

/aw-then-tis-i-tee/

"Realness."

📝

Scam

/skam/

"Fraud."

📝

Hype

/hyp/

"Excitement."

📝

Crash

/krash/

"Fall fast."

📝

Revolutionize

/rev-uh-loo-shun-yz/

"Change big."

Article

Right Click Save 🖼️

NFTs (Non-Fungible Tokens) promised to revolutionize art ownership. Using blockchain, artists could sell 'digital originals'. In 2021, prices exploded. Pictures of bored apes sold for millions.

Then the bubble burst. Prices crashed 95%. Why?

Speculation: People bought hoping to sell higher, not for the art.
Scams: 'Rug pulls' (creators running with money) were rampant.
Utility: Owning a JPEG didn't actually do anything.

The tech might survive for tickets or deeds, but the 'digital collectibles' era is largely seen as mania.

Practice

Progress: 0/10

Score: 0

1.

NFT stands for...

2.

Fungible means...

3.

A 'Rug Pull' is...

4.

The bubble burst means...

5.

Speculation drove prices...

6.

Mania refers to...

7.

Smart Contract (tech behind NFT)...

8.

Utility means...

9.

Authenticity proves...

10.