The Collins Dictionary crowned the amazing year NFTs had. According to the UK-based dictionary, “NFT” was the most important word of 2021. There’s no denying that the NFT phenomenon grew immensely this year, and not even Ethereum gas fees and environmental FUD could deter its trajectory. Congratulations to all the artists and businessmen that managed to benefit from the growth, and take Collins Dictionary’s acknowledgment as if it was yours. Related Reading | DAO To Make Jodorowsky’s Dune Manuscript Public: Member Won $3M Bid How Does Collins Dictionary Define NFT? On the Word of The Year page, Collins offers a simple and elegant definition: “‘NFT’, the abbreviation of ‘non-fungible token’, the unique digital identifier that records ownership of a digital asset which has entered the mainstream and seen millions spent on the most sought-after images and videos, has been named Collins Word of the Year 2021. It is one of three tech-based words to make Collins’ longer list of ten words of the year, which includes seven words brand new to CollinsDictionary.com.” The other tech-based words were “crypto” and “metaverse,” so you know NFT had some fierce competition in 2021. The abbreviation of “cryptocurrency” seems like a bigger and wider concept. And it might’ve been even more everpresent than “NFT.” However, it didn’t have the novel factor. On the other hand, “metaverse” did have the novel factor but it came too late into the ...
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