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Collins Dictionary chooses 'NFT' as its word of the year for 2021

By Megan Hadley
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Collins Dictionary chooses 'NFT' as its word of the year for 2021
NFT artwork is seen as part of the auction, "Post-War to Present: The NFTs," at Christie's in New York City on September 28. File Photo by John Angelillo/UPI | License Photo

Nov. 24 (UPI) -- Collins Dictionary said on Wednesday that the "convergence of money and the Internet" in 2021 led it to choose "NFT" as its word of the year.

NFT is an acronym for non-fungible token, which is a unique unit of data stored in a digital ledger or blockchain. It records ownership of an asset, such as an artwork or a collectible, Collins said.

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Collins said it considered several words that made the shortlist, but noted that the emergence of NFTs in 2021 made the word difficult to ignore.

"What's really captured the public's imagination around NFTs is the use of this technology to sell art," Collins wrote in a blog post. "For example, the rights to a work by the surrealist digital artist Beeple sold at Christie's in March for $69 million."

Collins said NFT beat out a few other significant words -- including neopronoun, regencycore and cheugy. Other words under consideration were "double vaxxed," "hybrid working" and "pingdemic."

The blog also notes Facebook changing its name to Meta to reflect its interest in the word "metaverse," or "a dream for the future of the Internet" that includes virtual and augmented reality.

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Collins chose "lockdown" its word of the year in 2020.

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