NFT is the word of the year in the Collins dictionary

NFT is the word of the year in the Collins dictionary. Cryptocurrency and especially its “backbone” – the blockchain – is everywhere today and shows the world how versatile it can be. The world of technology is constantly discovering new and better uses for it, from access control to user management to international currency transactions. Soon every world wide website and weblog, even the most popular online casino Vietnam has to offer, is going to be using it in one way or another. But certainly one of the most viral use cases – and for some, NFT is the confusing use case.

NFTs have been an explosive hit this year – maybe that’s why an unprecedented number sought its definition. So much so that Harper Collins, editor of the Collins Dictionary, made a decision NFT as word of the year.

Definition of NFT according to Collins

The Collins Dictionary defines NFT as “a non-fungible token: a unique digital certificate registered on a blockchain and used to document ownership of an asset such as a work of art or collectibles” that is “a property can act whose property is recorded “. by means of a non-fungible token ”.

It is certainly a buzzword (“a word or phrase that has become fashionable in a certain field and is used heavily by the media,” according to the same dictionary) that is becoming widespread (perhaps even overused) in some circles.

And there is a reason for that: NFTs often change hands at exorbitant prices. The most expensive NFT sold to date is Beeple’s “Everydays,” a collage that Christie’s auctioned for $ 69 million. But other NFTs are often sold in seven-figure sums, often paid for in crypto.

Other candidates at Collins

In the blog post announcing the Dictionary of the Year, the publisher announced that it was having a hard time making a choice due to the multitude of novel expressions that have received so much attention. Italy in 2021.

Many of this year’s contenders are linked to the ongoing pandemic almost two years later – terms like “double vaccinated” are used for people who have received two doses of the vaccine, “hybrid that does work” that is used to make one To arrange work that combines office and home office work. Others reflect the new reality around us – think of “climate fear”, “personal pronouns” (pronouns that go beyond the conventions of “he” and “he”, “she”) and many others.

Other words of the year

Most of the other major online dictionaries (and IRL) choose the word of the year at this time of year.

At Dictionary.com, one is selected as an “ally” (the status or role of someone who supports and actively works on a marginalized or politicized group in all areas of society). Merriam Webster chose “vaccine” for obvious reasons and the Oxford English Dictionary chose “vax” – two words with the same definition.

The Macquarie Dictionary, the compendium of Australian English, has chosen “walking” as the word of the year – that too has to do with vaccines because it is a combination of “roam” and “introduction”. Vaccinations in Australia.

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