Lesson 5 61bccc77618d4420981b618c76c97ce1
Lesson 5
To do:
- Text summary
- Practical activities
- Feedback form
Metholodogy: flipped classroom: 1 hour self study material + 1 hour class discussion with the teacher + 1 hour Q&A or practical activities with the team if needed
- NFTs
- DeFi
- Metaverse
- The evolution of Gaming
Learning Material:
Fungible vs. Non-Fungible tokens:
Fungible tokens are interchangeable digital assets that have the same value and can be exchanged for each other, just like cash. For example, if you exchange one Bitcoin for another, you still have the same value. Other examples of fungible tokens include cryptocurrencies like Ethereum or stablecoins like Tether.
On the other hand, non-fungible tokens (NFTs) are unique digital assets that cannot be exchanged for each other because they represent something specific and unique, such as a piece of art, a collectible, or a unique gaming item. Each NFT is one-of-a-kind and has its own value, unlike fungible tokens that have identical values. Therefore, NFTs are not interchangeable and cannot be replaced by something else.
Lesson plan
NFTs:
- Open discussion. Comprehension check about what NFTs are:
- What is the main benefit of using NFTs? a) They are easily replicated b) They can be used for secure digital ownership c) They have no monetary value
- What can NFTs be used for? a) Art b) Music c) Collectibles d) All of the above
- How are NFTs different from other types of cryptocurrencies? a) They are not decentralized b) They are not fungible c) They have no real-world value
- Which of the following statements about NFTs is correct??
- How are NFTs created? a) By mining b) By coding c) By using a specialized platform or marketplace
a) Non-Fungible tokens are currencies
b) Non-Fungible tokens can be exchanged for each others cause they have the same value
c) Non-Fungible tokens are unique and each of them has its own value
- Discussion: potential impact of NFTs on the future of digital ownership and the art industry.
DeFi:
- Open discussion. Comprehension check about DeFi:
- What is the main difference between CeFi and DeFi? a) CeFi is centralized, while DeFi is decentralized b) CeFi is only available to institutions, while DeFi is available to everyone c) CeFi uses traditional banking methods, while DeFi uses blockchain technology
- What is the main disadvantage of CeFi compared to DeFi? a) Higher fees and slower transaction times b) Lack of transparency and control over assets c) Lower security and higher risk of hacks
- What is a disadvantage of DeFi compared to CeFi? a) Higher fees and slower transaction times b) Lack of transparency and control over assets c) Greater potential for hacks
- What are some of the new features that DeFi has generated? a) Decentralized exchanges (DEXs) b) Yield farming c) Flash loans d) All of the above
- What is yield farming in DeFi? a) A way to earn interest rates on cryptocurrency holdings b) A way to farm crops using blockchain technology c) A way to mine new cryptocurrencies
- How does DeFi improve financial inclusion? a) It allows people to access financial services without needing a bank account b) It provides greater transparency and access to financial information c) It offers financial services to people in remote or underserved areas
- Discussion: potential impact of DeFi on the future of finance and banking
Metaverse:
- Open discussion: discuss some of the potential applications of the Metaverse, such as virtual commerce, entertainment, education, and social interaction
- Possible guiding questions:
- What is the Metaverse?
- How is it different from the internet as we know it today?
- What are some of the potential uses for the Metaverse?
- What are some of the challenges and concerns surrounding the development of the Metaverse?
Web3 gaming:
- Discuss some of the potential advantages of web3 gaming, such as true ownership of in-game assets, interoperability between games and platforms, and decentralized governance
- Identify some of the key features of web3 games, such as non-fungible tokens (NFTs), decentralized marketplaces, and community-driven development
- Discuss how these features can work together to create a more immersive and engaging gaming experience for players