The Collins English Dictionary has named the NFT acronym as the Word of the Year for 2021. Among the shortlisted nominees were the words ‘crypto’ and ‘metaverse’.
BREAKING NEWS The Collins Word of the Year is… NFT.
Find out more about #CollinsWOTY 2021 and see the full list here: https://t.co/gmsnCqA0yv#wordoftheyear #CollinsDictionary #NFT pic.twitter.com/XPhUM7oIoZ
— Collins Dictionary (@CollinsDict) November 24, 2021
The Collins definition describes NFT as ‘a unique digital identifier that records ownership of a digital asset’.
The dictionary noted that users spent millions of dollars on non-fungible tokens that have entered the mainstream.
‘NFT seems to be everywhere now: from art sections to the pages of financial publications, in galleries, auction houses and on social networks,’ said The Guardian managing director of Collins Learning Alex Bikroft.
In May 2021, the American dictionary Merriam-Webster added a definition of a non-fungible token and sold it as NFT at an auction for 15 ETH (about $55,000 at the time of the sale).
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