Demystifying the NFT Craze

Demystifying the NFT Craze

Assessment

Interactive Video

Business, Health Sciences, Performing Arts, Other, Biology

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

The video discusses NFTs, their role as investment options, and their integration into companies. It explores the concept of digital identity through avatars and the application of NFTs in gaming and art. The future of NFTs is considered, with a focus on Gen Z as potential adopters. Environmental concerns related to blockchain technology are also addressed.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main reasons people consider investing in NFTs?

They are not affected by market fluctuations.

They are guaranteed to increase in value.

They offer a new way to own digital content.

They are a safer investment than real estate.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do companies view NFTs in the context of the internet?

As a primitive of internet ownership.

As a new form of social media.

As a replacement for traditional currencies.

As a temporary trend.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of avatars in the metaverse according to the discussion?

They are limited to social media platforms.

They are a fantastical representation of thoughts and feelings.

They are exact replicas of real-world identities.

They are used only for gaming purposes.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does owning an NFT typically represent?

Ownership of the copyright.

Ownership of the physical artwork.

Ownership of a digital token linked to the artwork.

Ownership of the artist's future works.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might someone purchase a meme as an NFT?

To gain exclusive access to the meme.

To support internet culture and gain status.

To prevent others from using the meme.

To own the copyright of the meme.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential future use of NFTs in real estate?

To eliminate the need for real estate agents.

To replace physical property deeds.

To facilitate virtual property transactions.

To make all real estate transactions public.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a major concern regarding the environmental impact of NFTs?

They require a lot of physical storage space.

They contribute to deforestation.

They increase water consumption.

They are energy-intensive due to blockchain technology.

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