‘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.
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