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Collins Dictionary names ‘NFT’ as the Word of the Year 2021

The word of the year is the abbreviation for Non-Fungible Token, popularly known as “NFT.”

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The Harpercollins, the second-largest consumer book publisher in the world., and also the publisher behind the printed and online Collins English Dictionary, has revealed “The Collins Word of the Year.”

According to collinsdictionary.com, the word of the year is the abbreviation for Non-Fungible Token, popularly known as “NFT.”
On an annual basis,  Collins English Dictionary give a specific term the Word of the Year award, and this year the word “NFT” is chosen.

CollinsNFt

Collins defines NFTs 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”.

The post further adds:
NFT is one of three technology – based words to make Collins’ longer list of ten words of the year, which includes seven words brand new to Collinsdictionary.com.

Other words that were popular in the year 2021 include words such as “metaverse” and “crypto.” The word Metaverse became popular after the social media giant facebook changed its parent company name to meta.

The metaverse defined as the a shared virtual space that utilizes emerging technology (extended reality, artificial intelligence, machine learning, social media, wearable tech, cryptocurrency, NFTs, and much more) to allow Internet users from all over the world to engage in virtual experiences.

Collins English Dictionary says that the term “crypto” is an informal noun that is short for the word cryptocurrency, “a digital currency used for online purchases.”

 

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