'NFT' becomes Collins Dictionary's Word of the Year for 2021, beating out 'crypto' and 'cheugy'

“NFT,” the abbreviation of “non-fungible token,” has been named Word of the Year by dictionary publisher Collins, beating “crypto” and “cheugy” to the top spot.
An NFT is “a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectible,” according to a blog post from Collins, published Wednesday.
They also provide scarcity, and as a result the digital art market has been booming.