Collins Dictionary announce NFT as word of 2021

Collins Dictionary announce NFT as word of 2021

The Collins Dictionary has officially announced their ten-word annual shortlist for word of 2021, as well as declaring that NFT — though technically understood to be an abbreviation for nonfungible token — has been awarded their word of the year, surpassing the likes of crypto, metaverse and hybrid working, among others.

The blog post spoke frankly about the prospect of a digital revolution through a “convergence of money and the internet” which seeks to challenge and evolve traditional mediums of payment into the 21st century.

Collins Dictionary defines an NFT 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”, and it was further noted in their blog post that NFT’s signify:

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