Collins Dictionary picks NFT as word of the year 2021

Posted 11/24/21

LONDON (AP) — Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream.

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.

For $5.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

Collins Dictionary picks NFT as word of the year 2021

Posted

LONDON (AP) — Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream.

NFT is short for non-fungible token. Collins defines it as “a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible."

Most people didn't know what an NFT was until this year, when sales boomed, sparked in large part by artist Beeple's March auction of a digital collage NFT for nearly $70 million. Other highlights include Twitter CEO Jack Dorsey selling an NFT of his first tweet for $2.9 million and electronic musician Grimes selling $6 million worth for her digital art.

Experts at Collins, based in Glasgow, Scotland, said Wednesday they chose NFT because of its “meteoric rise in usage," up 11,000% in 2021.

“NFTs seem to be everywhere, from the arts sections to the financial pages and in galleries and auction houses and across social media platforms," said Alex Beecroft, managing director of Collins Learning. But whether NFT will have a lasting influence is yet to be determined, he added.

The Oxford English Dictionary's publisher, meanwhile, recently chose vax as its word of the year, as interest in vaccinations spiked over the past 12 months .

Comments

No comments on this item Please log in to comment by clicking here