If you¡¦re someone interested in the world of modern technology, you¡¦ve probably heard of and have a basic knowledge of NFTs. However, among the general public, the world of NFTs remains something of a mystery. Today, we attempt to explain in the most basic possible terms what NFTs are and why they¡¦re so popular.
Let¡¦s deal with the simplest question first: What does ¡§NFT¡¨ stand for? The answer is ¡§non-fungible token.¡¨ Basically, an NFT is a type of digital certificate that ensures ownership of a digital item. Any unique piece of digital art, whether a JPG, a GIF, a wav, an MP3, or any other file type, can be stored as an NFT using blockchain technology¡Xthe same type of technology used to store cryptocurrencies such as Bitcoin. However, an NFT differs from a unit of a cryptocurrency in that its data are unique and cannot be altered. This uniqueness proves a person¡¦s ownership of an NFT. In this sense, NFTs are much like physical artworks; they hold value and can be bought and sold. Moreover, while an NFT item can be reproduced infinitely, there¡¦s only one original NFT of that digital item and a corresponding owner.
The world¡¦s first NFT, a video clip that was eventually sold by its creator for US$4, was created back in 2014. However, NFTs did not start growing significantly in popularity until 2020. Then, in 2021, NFT trading skyrocketed, with the total trade figure exceeding US$17 billion that year.
NFTs are no stranger to controversy. They have been criticized for the high carbon footprint that comes with the blockchain technology they use and also for their involvement in a number of art-related scams. Nevertheless, recent NFT trading activity suggests that they are here to stay as a powerful player in the global economy.
1. Why is Bitcoin mentioned in the passage?
(A) It is an example of an NFT.
(B) It explains how NFTs are created.
(C) It is what is used to purchase NFTs.
(D) It shares the same technology with NFTs.
2. Which of the following statements is NOT true about NFTs?
(A) Ownership of NFTs is recorded on the internet.
(B) NFTs only exist in the digital world and can¡¦t be changed.
(C) Digital data that can be stored as NFTs are limited to works of art.
(D) Anyone can make a copy of an NFT image, but there is only one official owner.
3. Which of the following is closest in meaning to the word ¡§skyrocketed¡¨ in the third paragraph?
(A) Was copied repeatedly.
(B) Increased very rapidly.
(C) Became well known.
(D) Traveled into outer space.
4. Which of the following statements regarding NFTs can be inferred from the last paragraph?
(A) They have a huge impact on the environment.
(B) They will likely fall out of favor soon.
(C) They bring more good than bad.
(D) They can be used to stop crime.
µª®×¡G1.D 2.C 3.B 4.A
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