The Ten News Explains NFTs 🪙

The Ten News, News For Curious Kids

Small But Mighty Media

Education For Kids, Kids & Family, News

4.4 • 702 Ratings

🗓️ 14 June 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ten News Explains: 🪙 What exactly is an NFT and why would you collect them? 🎙️ LizaBanks Campagna is back with another Ten News Explains and is in the studio with high schooler and Crypto investor Daniel Keswin to break down NFTs. ✔️ Tessa Tidbit: find out the most expensive NFT ever purchased by a single buyer. And, test your NFT knowledge on today's Trivia on the Ten. ✅ ✔️ Sign up for the Ten News Newsletter! 📧 Email us your curious facts, funny stories, and eye rolling jokes at: [email protected] 🎇 Follow the show on Instagram 🌍 Check out our website for sources and a transcript of today's episode! See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Mm-sau-sha-s-s-s-s-s-s-s-s-s-s-s-s-s-s-s-h.
0:08.8	No, Mom, I want spaghetti for dessert.
0:11.8	What?
0:12.7	Ryan, did you sleep in the studio last night?
0:15.7	And what's that weird smell?
0:18.3	Oh, uh, yeah.
0:19.7	Hi, Bethany.
0:23.3	I dozed off while I was making my own NFTs.
0:32.7	You are making non-fungible tokens? No, Nutellafish tacos. Do you want one? Um, no, thank you, none for me.
0:41.0	But I do think we should do a 10 News Explains NFTs. I'm Bethany Van Delft. It's Tuesday, June 14th, and this is the 10 News. 10, 9, 8, 7, 6, 5, 4, 3, 0, 1. Have you ever heard of the Bored Apes
0:53.0	Yacht Club? It's one of the most popular NFT collections, but what exactly isn't an NFT?
1:00.0	And why would you collect them?
1:02.0	Liza Banks Campania is back with another 10 News Explains to break down NFTs.
1:07.0	Hey, tenors. I'm back with more cryptocurrency explainers.
1:13.6	And today, I'll be diving deep into the colorful world of NFTs.
1:18.6	NFT stands for non-fungible token.
1:21.6	Essentially, an NFT is a one-of-a-kind digital file that's usually a piece of artwork.
1:26.6	You might be wondering, how is an NFT one-of-a-kind digital file that's usually a piece of artwork. You might be wondering, how is an
1:28.1	NFT one-of-a-kind if it's a digital file? Digital files like pictures, which is a JPEG or a song,
1:34.8	which is an MP3, are easy to replicate and copy. So how do you verify if an NFT is really one-of-a-kind?
1:41.8	This is where the blockchain comes in. Remember, the blockchain is like
1:45.6	an online filing system. It keeps an open and online record of all transactions and creations
	...

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