Collins Dictionary picks NFT as word of the year 2021

LONDON (AP) — Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream.  NFT is short for non-fungible token. Collins defines it 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.” The NFT boom was sparked in large part by artist Beeple’s March auction of a digital collage NFT for nearly $70 million. The Oxford English Dictionary’s publisher recently chose vax as its word of the year as interest in vaccinations spiked over the past 12 months. Experts at Collins said Wednesday they chose NFT because of its “meteoric rise in usage,” up 11,000% in 2021.