Why should teachers be concerned about NFT & what is its purpose in education

Though most people have probably heard of NFTs, they might not be familiar with what they are or their applications, particularly in the field of education. The development and application of non-fungible tokens, or NFTs, is a hot topic in new technology. In addition to NFT in education, the metaverse, blockchain, and web3 are becoming more and more popular concepts. The world is full of ever-evolving trends and technologies. It is our responsibility as instructors to stay informed.  

We only need to be sufficiently prepared to assist kids in navigating the ever-changing world; we don’t need to be specialists. Many people may see NFTs as being novel, despite the fact that the first NFT was introduced in 2017. 

NFTs are becoming more and more common, and their utilization is growing. We are curious about the implications of this increase for the future. What applications will NFTs have in the workplace and—perhaps most crucially for us—in education? What knowledge is required to assist students in comprehending and even producing NFTs?

What is an NFT specifically?

An NFT is a nonfungible token (NFT), to put it simply. It is not fungible if it has a distinct digital identity and cannot be divided, replicated, or replaced. When an nft marketplace development is created, it has a unique digital identity that may be used to verify its ownership and legitimacy. Next, the NFT is recorded on a blockchain, a platform that maintains a log of all transactions. Nontangible refers to the fact that an NFT is a type of evidence that verifies ownership and purchase rather than a real, tangible object. 

The NFT records are kept on several computers connected by a network. They can be exchanged or sold once they have been stored. NFTs are produced by a procedure known as “minting,” in which digital files are transformed into collectible cryptocurrency tokens.

For information on how to create and use NFTs, there are a plethora of materials available. For example, in this five-minute video, he explains NFTs and provides easily understood examples. 

educating students about NFTs

The comparison of money and art was the most helpful illustration for my students. A $100 bill will remain worth the same even if you break it into smaller portions. But with NFTs, you can’t divide a masterpiece like the Mona Lisa and get a value that is distributed equally like money. The cause? The original Mona Lisa exists only once. The original, genuine work that NFTs reflect is what gives them worth.  

Even though I can snap a photo of something or copy it, those copies won’t be as valuable as the original. NFTs can be made to represent a wide range of concepts, such as digital content, art, and other media. 

How is an NFT created?

Regarding NFTs, there are a ton of resources available. “Minting” is the process of generating NFTs; it entails signing a blockchain transaction that contains the outline or details of the basic token information. In this case, the data is sent to the blockchain, where a smart contract mechanism is triggered to create the token and transfer its ownership. A distinct identification for every NFT is recorded on the blockchain. There is no set format requirement for an NFT. It is possibly a GIF, a video, or an image. Its legitimacy has been confirmed and ownership is established when the developer adds it to the blockchain.  

Is NFT a permanent fixture in education?

Indeed! I instruct eighth graders in a course called What’s Next in Emerging Tech. Throughout the year, we discuss a lot about AI, AR/VR, and, more recently, NFTs, bitcoin, and blockchain. Pupils are eager to learn about them, create them, and comprehend potential future applications. After discussing the potential applications of NFTs in education and their advantages, we look for real-world instances to explore. 

Some higher education institutions are beginning to employ NFTs for their certification, according to a few recent news pieces. For instance, Duke University’s Master of Engineering in Financial Technology degree uses NFTs as part of its educational credentials.

NFTs have been employed by Pepperdine University to give out prizes to students enrolled in a course on personal finance. Despite not having a monetary value, the NFTs serve as proof that a student completed the course. MIT and other universities have conducted research and are supporting the use of blockchain technology to verify transcripts and diplomas from colleges. 

NFTs in the K–12 curriculum

There are a few possible applications for NFTs in K–12 education. Here are a few typical situations: 

• monitoring assessment or student record data: Usually, a plethora of documents or instruments are employed to monitor this data. Rather, an NFT makes this information easily accessible, verifiable, and unchangeable;
• NFTs can also be used as resumes and diplomas, which assist students keep track of the credits they have earned throughout their academic careers. NFTs can function as a unique, permanent, and unalterable “transcript” of education and career progress; 
• letting pupils design original NFTs. There are plenty of options for the sake of creativity. One of my friends, Rabbi Michael Cohen, is an author and educator who has been working extensively in the field of NFTs. He believes that NFTs could be used in the arts and for creative purposes. 

NFT’s importance in education

The availability of a digital asset or what it is being developed to represent determines the value of NFTs. The NFT’s value increases with decreasing available numbers. Over the past year, NFT sales have reached significant levels. One digital artist, Beeple, for instance, sold a 5,000-image collage for $69.3 million. The first tweet that former Twitter CEO Jack Dorsey sent as an NFT marketplace sold for $2.9 million. 

Students can produce authentic, collectible, and even sellable digital art with NFTs. NFTs offer a plethora of creative possibilities. We can give children the chance to acquire critical socio-emotional learning (SEL) and future-ready skills by introducing entrepreneurial concepts.

Even if we don’t need to be experts, there is a lot to know about NFTs. There are ways to teach about NFTs and start talks about them, regardless of the grade level or subject matter being taught. After we accomplish this, kids will carry on creating and learning in their own genuine and significant ways. 

Conclusion

NFTs and their possible effects on education should be known to educators. Since NFTs are non-fungible tokens, they present special chances for innovative teaching methods and artistic expression. Students can participate in real-world learning experiences and acquire skills that will prepare them for the future by comprehending NFTs. By including NFTs in the curriculum, opportunities to study blockchain technology, innovation, and digital ownership are created. Using NFTs in the classroom gives students the tools they need to manage the always-changing digital landscape and gets them ready for future chances.