Understanding NFTs and Cryptocurrency

The video discusses a record-breaking NFT auction featuring a Shiba Inu image that sold for an estimated four million dollars. The transaction was completed using cryptocurrency, marking the highest price ever paid for an NFT. The video explores the concept of cryptocurrency, its relation to real money, and the role of the internet cloud in such transactions. It also touches on Bitcoin mining and its environmental impact.

What was the estimated sale price of the NFT featuring a Shiba Inu?

• Two million dollars

• Four million dollars

• Six million dollars

• Eight million dollars

How was the payment for the Shiba Inu NFT made?

• Using cryptocurrency

• Through a bank transfer

• With a credit card

• In cash

Who was the previous owner of the Shiba Inu meme?

• The creator of the meme

• An anonymous collector

• The owner of the dog

• A famous artist

Where is cryptocurrency typically stored?

• On a USB drive

• On a personal computer

• In a physical vault

• In the internet cloud

What environmental concern is associated with Bitcoin mining?

• Water contamination

• Air pollution

• Deforestation

• High energy consumption