Collins Dictionary picks NFT as word of the year 2021

Collins Dictionary has chosen the word NFT arsenic its connection of the twelvemonth aft surging involvement successful the integer tokens that tin merchantability for millions of dollars brought it into the mainstream.

NFT is abbreviated for non-fungible token. Collins defines it arsenic "a unsocial integer certificate, registered successful a blockchain, that is utilized to grounds ownership of an plus specified arsenic an artwork oregon a collectible."

Most radical didn't cognize what an NFT was until this year, erstwhile income boomed, sparked successful ample portion by creator Beeple's March auction of a integer collage NFT for astir $70 million. Other highlights see Twitter CEO Jack Dorsey selling an NFT of his archetypal tweet for $2.9 cardinal and physics instrumentalist Grimes selling $6 cardinal worthy for her digital art.

Experts astatine Collins, based successful Glasgow, Scotland, said Wednesday they chose NFT due to the fact that of its "meteoric emergence successful usage," up 11,000% successful 2021.

"NFTs look to beryllium everywhere, from the arts sections to the fiscal pages and successful galleries and auction houses and crossed social media platforms," said Alex Beecroft, managing manager of Collins Learning. But whether NFT volition person a lasting power is yet to beryllium determined, helium added.

The Oxford English Dictionary's publisher, meanwhile, precocious chose vax arsenic its connection of the year, arsenic involvement successful vaccinations spiked implicit the past 12 months .

---

---

© 2021 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.