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GENERAL ENGLISH · SPECIAL REPORT · UPPER-INTERMEDIATE (B2-C1)

NON-
FUNGIBLE
TOKENS
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1 Warm up

Look at the images and discuss the questions in pairs or small groups.

picture 1 picture 2

picture 3 picture 4

1. What does ’art’ mean to you? Are you artistic?

2. Do you enjoy visiting art galleries? Have you ever bought a piece of art?
3. Do you think that people who work in the creative industries are paid enough?
4. Do you enjoy memes, or find them annoying? Why do you think memes are so popular?

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2 Vocabulary focus

Part A: Match words with the correct definitions.

1. bubble (n) a. a digital currency such as Bitcoin

2. tout (v) b. a good or lucky situation that is unlikely to last for a long time

3. crypto-currency (n) c. an object that you can pay for something with or exchange for real
money
4. aid (n) d. a person that tries to make something seem less good or valuable
by criticising it
5. detractor (n) e. a system used to make a digital record of the occasions a virtual
currency or item is bought or sold
6. non-fungible (adj.) f. describing something that is unique and cannot be replaced or
exchanged for similar goods
7. blockchain (n) g. the help that is needed to perform a particular task

8. token (n) h. try to persuade people that something is important or valuable by

praising it

Complete the sentences with some words from Part A. You may need to change the form of the word.

1. With the of his new laptop, he was able to finish the novel in three months.
2. The information stored on a can be accessed by everyone.
3. Wind power has been as a solution to the energy crisis.
4. When the housing market popped, my brother lost everything.
5. of solar power have questioned whether it would be effective in colder countries.
6. Even though tokens can be helpful for artists, I don’t think they’re good for the
art industry itself.

3 Listening for specific information

Listen to the report about the NFTs. Match the sentences to the figures and dates mentioned in the
listening.

1. The equivalent value (in dollars) of a Bored Ape NFT a. 10,000

2. The actual price (in dollars) that the token was sold for b. 300,000

3. The number of computers maintaining blockchain records c. 3000

4. An NFT sold by the artist "Beeple" d. 69 million

5. The number of Bored Ape images in the limited run e. thousands

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4 Listening comprehension

Listen to the report again. Answer the questions true, false or not given.

1. NFTs have become particularly popular in the last few years.

2. NFTs have become popular with celebrity collectors in particular.
3. Artists may be able to use NFTs to sell ‘original’ digital artwork.
4. NFTs are often bought and sold using crypto-currencies.
5. Because of their smart contracts, NFTs guarantee the artist will receive the entire sale fee for each
sale of the artwork.
6. NFTs are often used to sell images of memes.
7. All Bored Ape artworks were created by a group known as the Bored Ape Yacht Club.
8. The technology used to create the images could be bad for the environment.

5 General vocabulary

Part A: Match the words in bold with the correct definitions.

1. My son loves to watch videos of amusing pranks on YouTube.

2. A man ran into the shop today looking crazed. He bought five packets of cigarettes and started
smoking them outside.
3. After the tsunami, many fishermen lost their livelihoods.
4. After the literary agent had taken her cut, Mary didn’t have much money left.
5. Some businesses organise training sessions to avoid sexist comments being made in the workplace.
6. Experts believe that virtual reality is a fad, and that public interest will fade in time.
7. Some artists take on commissions in order to pay the bills.
8. Many believe we should banish coal and oil to the history books.

a. a request to do a special piece of work

b. a share of something (usually money)
c. a trick that is intended to be funny and harmless
d. describing wild or strange behaviour, especially because of strong emotions
e. get rid of something completely
f. something that is very popular for a short period of time
g. suggesting that members of one sex are less able or referring to them in a negative way
h. the money needed by people to pay for food, a place to live etc.

Part B: Complete the short text with the correct words from Part A. You may need to change the form
of the words.

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1 2
When I was offered my first , I thought it was a . I didn’t believe
that anyone would pay for my artwork! They sent me some of my fee in advance, which helped to
3
my doubts. The project involved painting a portrait of a client, which was a little
difficult as the photograph they sent me for reference wasn’t good quality, and the person in the picture
4
had a bit of a expression. However, the client, a company in the US, loved the
finished painting and offered me more work. After three years, these kinds of projects have become
5
my . I recently signed with an agency, and they help me to find different types of
6
art jobs. Unfortunately, they take quite a big ! In general, I’m very happy with my
professional life now, but sometimes I pass on a potential client. Once I was asked to do a portrait
of a businessman’s wife, based on a photograph of a model who wasn’t wearing many clothes, as a
7
birthday present. I found the idea and told them I wasn’t interested. These days,
8
people request pet portraits more than anything. I hope it’s a , as I don’t really enjoy
it, but it’s good money.

Discuss these questions in pairs.

1. Can you think of any fads that should be banished from modern society?
2. Do you think that agents should take a cut from artists? Do you think that there should be a better
way for artists to make money than through commissions?
3. Can you think of any ways to avoid sexist comments in the workplace? Why do you think this is
still an issue in the 21st century?

6 Reading for general understanding

You are going to read a text about NFTs. Scan the text quickly and find out which speaker best
matches the following statements. One of the statements doesn’t relate to the text and should be
marked ’not given’.

1. I work in a creative industry.

2. I’m a journalist.
3. I’m a world-famous artist.
4. I’m a student.
5. I work in an auction house.

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The token of the future or a token gesture?

Are NFTS good for artists?

Benjamin, 54
I’m an auctioneer. I’ve helped clients to sell paintings by Dali and Warhol – for serious money. When I first
heard of these NFT things, I thought it was an Internet prank. Now, they’ve started appearing in auction houses,
and, if I’m quite honest, I would like to distance myself from the entire concept as much as possible. From my
understanding, these so-called tokens have cost many people their livelihoods and are used, primarily, to claim
ownership of internet-related jokes. Some of my colleagues have embraced NFTs, but I’d rather stick to selling
physical objects rather than streams of data. I believe this phase will pass, and those who have invested in such
nonsense will come to regret their decision. I just hope that my son loses interest in this particular fad, as I don’t
think it will end well at all!
Nathalie, 27
I’m not really sure about the idea. On the face of it, it seems like it could be a good thing. I’m a digital illustrator.
I used to paint, and sometimes I would sell a painting for a few hundred pounds, but after I switched to digital, I
found it much harder to make money from individual pieces of art. These days, I work freelance, and I don’t earn a
great deal of money. I have an agent and take on commissions for projects every few months, but I would love to
do my own art and make a living from it. Perhaps NFTs are the solution. Being paid a fair price for my art would be
wonderful. I never thought art would make me rich, but when I read about NFTs selling for millions at auctions, I
do feel a little excited. Still, I’ve heard that many artists haven’t made much money from them, and I suppose that
luck comes into it. Maybe I’ll give it a go one day.
Claire, 19
I grew up on the Internet. The first thing I do when I turn on my phone is check the latest memes. I follow several
meme accounts on Twitter and Instagram. They help me to start my day with a smile, and they provide a nice
distraction from my studies. Some of the images used in memes have become so famous that they have changed
the lives of the people involved, often for the worse! Imagine being the target of a worldwide joke and seeing your
photo shared in WhatsApp groups. One example I read about recently is the ‘Overly Attached Girlfriend’ meme. It
features a woman’s face with a slightly crazed expression and has been used all over the Internet, often in a sexist
manner. The woman in the photograph, Laina Morris, has dealt with depression and offensive comments over the
years. In April, she sold the NFT of the meme for $411,000. I think that, in the scheme of things, she deserves
the money.
Sandra, 46
In my younger and more creative years, I wanted to be an artist. Although that didn’t pan out, I’ve been covering
the art world for a major newspaper for the last two decades. One thing I’ve noticed is that art has become quite
unbalanced. It’s hard to break into, and a lot of the money involved in art sales goes to art dealers and galleries,
rather than the artists themselves. NFTs could change this. When a regular painting is sold, the sale doesn’t have
to be recorded and so paintings are often resold at a profit, allowing art dealers to make a great deal of money at
the expense of the artist. With NFTs, sales are a matter of public record. Furthermore, artists get a cut with each
resale of the token. Perhaps this technology could banish the idea of the struggling artist to the history books of
the 20th century.
Sources: BBC, The Guardian, Reuters, Financial Times, CNN

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7 Reading comprehension

Part A: Read the article again. Match the attitudes with the correct speakers. One attitude cannot be
matched to a speaker, and should be marked ’not given’.

1. They don’t think that the art industry is very fair for artists.
2. They don’t want to deal with NFTs in their professional life.
3. They think that NFTs could be used to help those negatively affected by memes.
4. They think that memes are bad because they have cost some people their livelihoods.
5. They think that NFTs could be useful for them professionally.

8 Expressions

Match the underlined expressions taken from the text with the correct definitions.

1. I’d rather stick to selling physical objects rather than streams of data.
2. On the face of it, it seems like it could be a good thing.
3. I would love to do my own art and make a living from it.
4. Maybe I’ll give it a go one day.
5. I think that, in the scheme of things, she deserves the money.
6. Although that didn’t pan out, I’ve been covering the art world for a major newspaper for the last
two decades.
7. One thing I’ve noticed is that art has become quite unbalanced. It’s hard to break into.
8. Paintings are often resold at a profit, allowing art dealers to make a great deal of money
at the expense of the artist.
9. With NFTs, sales are a matter of public record.

a. attempt something
b. begin working in a new business or area
c. considering everything
d. in a way that harms someone or causes someone to lose something
e. limit yourself to doing one particular thing and not change to something else
f. officially written down and available to the wider population
g. to develop in a particular way or a successful way
h. to earn enough money to live from a job or career
i. used when describing how a situation seems on the surface

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9 Talking point

In pairs, discuss the following questions.

1. Do you think we should stick to buying and selling art through traditional means, or do you think
NFTs are a good idea?
2. Would you consider purchasing an NFT? Do you think that people who have invested in NFTs may
come to regret their decision?
3. Do you have any creative hobbies you wish you could make a living from? Do you think you’ll give
it a go sometime in the future?
4. Have you ever started a business or tried to do something creatively that didn’t pan out?
5. Do you think most creative industries are too difficult to break into? Are some easier than others?

10 Extended activity/writing homework

Write a discussion essay on the following statement. Your essay should present contrasting opinions
and should begin with an introduction and end with a conclusion, in which you should offer your own
view on the topic. The essay should be between 260 – 320 words.

Although NFTs may be beneficial for artists, they are terrible for the environment.

Alternative extended activity:

A photograph of you has been used in a meme that has become very popular over
the last few weeks. Write a letter of complaint to the website owner who originally
published the photo, outlining the reasons why he or she should take the image down.

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Transcripts

3. Listening for specific information

Reporter: In recent news, an NFT image has been sold for one-hundredth of its market price by
mistake. The digital item was valued at the equivalent of $300,000, but due to a “lapse
of concentration” the seller listed the token at just $3,000. NFT, which stands for non-
fungible token, is a phenomenon that has taken off in recent years.

Reporter: Something which is non-fungible cannot be interchanged with something else, as it has
unique properties. NFTs are often seen as a way for potential buyers to purchase digital
art, allowing them to own the original version, or at least a digital certificate implying
ownership.

Reporter: These kinds of tokens have been touted as a solution to the endless reproduction of
artworks, allowing artists who work in a digital medium the opportunity to sell their
“originals” for a significant amount of money.

Reporter: The technology uses the blockchain to record who owns what. Blockchains are more
commonly associated with crypto-currencies. Such records can’t be forged as they are
maintained by thousands of computers worldwide. They may also contain smart contracts
which guarantee the artist a percentage of any future sales.

Reporter: These sales can reach incredible levels, such as an NFT sold by digital artist Beeple, which
sold for $69 million. NFTs are, however, more commonly used to sell memes.

Reporter: The image mistakenly sold for $3,000 was one of a series known as Bored Apes, digital
images of apes created with the aid of a computer script, which matches a variety of
colours and designs to make each picture unique.

Reporter: Owners of Bored Ape NFTs belong to a group called the Bored Ape Yacht Club. As the
artworks have a limited run of only 10,000, members see themselves as part of something
exclusive, and often display their apes as profile pictures on social media sites.

Reporter: Detractors have noted that the bubble could burst at any time, and warn customers not
to invest too much money into the concept. Additionally, some have pointed out that the
technology NFTs use isn’t very environmentally-friendly.

Reporter: The blockchains that power the tokens require a huge amount of computer power, which
translates to a very large carbon footprint.

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Key
1. Warm up

5 mins.
Tell the students they will be reading an article about NFTs (non-fungible tokens) and listening to a report about a
recent mishap involving an NFT being sold at a much lower price than intended. The discussion activity is suitable
for pairs or groups.

2. Vocabulary focus

10 mins.
Ask students to match the words with the correct definitions. For the second part, students should fill in the
gaps in the sentences in pairs or individually. Ensure that students know how to pronounce the target vocabulary.
Fungible pronunciation: /­f2n.dZ.@.b@l/

1. b 2. h 3. a 4. g 5. d 6. f 7. e 8. c
Part B
1. aid 2. blockchain 3. touted 4. bubble
5. Detractors 6. non-fungible

3. Listening for specific information

5 mins.
Individually or in pairs, ask students to listen to the report and match the numbers they hear mentioned with the
correct answer.
1. b 2. c 3. e 4. d 5. a

4. Listening comprehension

5 mins.
Students should answer the questions true, false or not given.
1. True - NFT... is a phenomenon that has taken off in recent years.
2. Not given.
3. True - these kinds of tokens have been touted as a solution to the endless reproduction of artworks, allowing
artists who work in a digital medium the opportunity to sell their "originals" for a significant amount of money.
4. Not given.
5. False - they may also contain smart contracts which guarantee the artist a percentage of any future sales.
6. True - NFTs are, however, more commonly used to sell memes.
7. False - the 1‘club’ is the name for a group of owners of Bored Ape NFTs.
8. True - the technology NFTs use isn’t very environmentally-friendly. The blockchains that power the tokens
require a huge amount of computer power, which translates to a very large carbon footprint.

5. General vocabulary

10 mins.

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Students should match the words in bold with the correct definitions. Ensure students know how to pronounce
target vocabulary. For part B, students should read the short text and fill in the gaps with the words from part A.
For the discussion activity, students should answer the questions in pairs or small groups.
1. c 2. d 3. h 4. b 5. g 6. f 7. a 8. e

Part B
1. commission 2. prank 3. banish 4. crazed
5. livelihood 6. cut 7. sexist 8. fad

6. Reading for general understanding

5 mins.
Ask students to skim through the text quickly to match the statements to the correct speakers. You may want to
do this as a strictly-timed exercise.
1. Nathalie 2. Sandra 3. Not given 4. Claire 5. Benjamin

7. Reading comprehension

10 mins.
Students should complete the task individually or in pairs. For part A, encourage students to think about the
attitude of each speaker in the text. One attitude isn’t in the text and should be marked ‘Not given’. For part B,
ask students to choose the answer that most accurately reflects the statement.
1. Sandra 2. Benjamin 3. Claire 4. Not given 5. Nathalie

8. Expressions

5 mins.
Students should match the underlined phrases with the correct definitions. Ask students to refer to the text for
context.
1. e 2. i 3. h 4. a 5. c 6. g 7. b 8. d 9. f

9. Talking point

10 mins.
Ask students to discuss the questions in pairs or small groups.

10. Extended activity/writing homework

At least 40 mins.
For the first option, you should ask students to do their own research on the topic and use the information
contained in the lesson to write their discussion essay. Ensure that students know how to present two sides
of an argument in an essay. Essays should be 260 – 320 words. For the second option, students should imagine
that their image has been used in an internet meme and use descriptive language to write a letter of complaint.

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