This lecture demonstrates how to generate a two-port memory in Vivado, which will be used as a frame buffer for a VGA controller and later filled with a Mandelbrot generator. The memory is configured with a width of 12 bits and a size of 256x192 pixels, corresponding to 49,152 12-bit words. The process involves selecting configurations, initializing the memory with a provided file, and understanding the resource usage within the FPGA. The lecture concludes with instructions on how to access and instantiate the generated memory template.