How we are exploring the technology with kids and having a lot of fun in the process
One of the hottest trending topics which fascinated my kid is crypto. Quite honestly, he felt that Dogecoin is the coolest currency and he even asked me to help him purchase some of it with his savings.
We’ve all heard of the term “Digital Natives” and I’m sure some of us here are “Digital Natives”. This refers to the generation that grew up with technology. Technology is here to stay, and I don’t think it’s going to a standstill. As many of us are still grappling with how this whole crypto and blockchain technology works, fueled with the whole speculation in the cryptocurrency market, this is definitely an area of fascination and fear.
Understanding the technology and how this would be the standard for them in future
I wanted to approach this from the angle of exposing kids to technology and the other applications of this technology. There’s been too much hype around the speculation of cryptocurrencies which is just one part of the story.
Blockchain technology is something that will be here to stay. The benefits that the technology brings, especially with the ability to create a unique identity for digital assets, opens up endless possibilities for creators such as artists to “mint” original pieces which cannot be replicated.
While I feel that this technology is in its early days and will evolve to something more efficient, there is already wide adoption of blockchain technology in our lives today.
Why did I feel this would be a good opportunity for our kids?
It really started with my 10-year-old boy and his friends, taking an interest in Dogecoin. They have been reading it on Reddit a lot and they are fascinated with the whole Elon Musk sending Dogecoin to the moon. While I’m glad they are fascinated with how these things work, there is a lot of fluff in this whole proposition which I don’t entirely agree with. The other worrying thing is that they are all starting to develop their values around investments and the value of money. Having them exposed to just a single facet of the technology would set that foundation wrong.
How did we go about exploring the topic?
Having an interest in any given topic is priceless, and I didn’t want to let this slip. I did let my son invest a small part of his savings in Dogecoin. $15 of it to be exact. That story was a good one. He was making over a dollar at one time, before losing about 40% of it on paper. Throughout the whole episode, I checked in with him on how he felt, and he was able to make a decision to hold on to it believing that it was still a good decision to invest. It did recover, and he sold everything making a handsome profit of 40 cents. He later kicked himself when it sent up further and he could have made a lot more. He’s now staying on the sideline and refusing to put any money into it, but I know he’s researching the next thing he should be investing in. I think that this experience for my son and his friends what it has taught them is financial lirteracy something that is not really promoted at mainstream tradional schools. However, from this experience my son and his friend opened up a school teaching other kids how to invest in cryptocurrency, NFT’s and other entrerpreneurship platforms. If you want to learn more about their school visit www.hubpodschool.com or email them at firstname.lastname@example.org.
NFT (Non-fungible token)
Using blockchain technology, unique identities for digital assets such as artwork can be created and stored on the blockchain. This is as NFT.This allows content creators to create their masterpieces without the issue of them being replicated. A good recent example of such an artwork changing hands is that of Mr. Vignesh Sundaresan (Metakovanby) purchasing artwork by digital artist Beeple at a Christie’s auction on March 11. He paid US69 mil for it, which was unthinkable even today.
Riding on the interest of my son’s art, I suggested to my son and his friends that we should create our own NFT Artwork and sell it online. This is a perfect example for us in how we can explore the technology together, create an art piece, and put it up for sale.
I also wanted them to think about the good that we can do along with the power to create. So, I asked them if they would give some of the proceeds away to a charity, and they immediately said “YES!”.
Our NFT Artwork
Out came the iPad, and we started drawing. It’s a simple illustration of a cute little Mochi. Yes, it’s very elementary, but it was fun creating it!
Creating our artwork on the iPad
I also took the opportunity to show them the cost of minting which essentially is the “gas” money that goes to processing the transaction on the Ethereum blockchain network. This fluctuates a lot and depending on the load and if you’re going to pay more to expedite the processing, it can range from a couple of tens of dollars to over a hundred dollars just to mint this NFT artwork.
This allowed me to explain to the kids how the technology works in kids language, and also how the energy impact the technology has.
We had a lot of fun in this process of being an NFT Artist. It was super cool, and I think we might do this again. If you visit www.hubpodschool.com your child can register for a class on NFT’s.
Hope you’ve found this sharing useful. Do share your thoughts and comments with me on twitter @hubpodschool, @hubpod1, or send us an email at email@example.com.