The Collins English Dictionary chose the term NFT for the year after the growing interest in digital tokens that could sell for millions of dollars and the NFT becoming mainstream.
NFT stands for irreplaceable token. Collins defines it as a unique digital certificate registered on the blockchain used to record ownership of assets such as artwork and collectibles.
Most people didn’t know what an NFT was. Sales surged this year, largely sparking artist Beeple’s March auction of digital collage NFTs for nearly $ 70 million. Other highlights include Twitter CEO Jack Dorsey selling the first tweet NFT for $ 2.9 million and electronic musician Grimes selling $ 6 million worth of digital art. ..
A Collins expert based in Glasgow, Scotland, said on Wednesday that he chose NFTs because of the sharp increase in usage, “said an increase of 11,000% in 2021.
From the arts section to financial pages, galleries, auction houses and social media platforms, NFTs seem to be everywhere, said Alex Beecroft, managing director of Collins Learning. ” , He added.
Meanwhile, the Oxford English Dictionary publisher recently chose vax as the word for the year because of the surge in interest in vaccination over the past 12 months.
This 2021 investment wrath is this year’s word for the Collins Dictionary.
Source link This 2021 investment wrath is this year’s word for the Collins Dictionary.