Collins Dictionary Awards NFT Term “Word of the Year” – DiarioBitcoin

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Collins Dictionary Awards NFT Term "Word of the Year" - DiarioBitcoin By Angel Di Matteo @shadowargel

According to the team of Collins, the term NFT It was the most popular throughout 2021, precisely because of the revolution that brought about everything associated with digital collectibles.

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Collins Dictionary, one of the most prestigious dictionaries on the Internet, awarded the award of “The Word of the Year“To the term”NFT ”, consecrating it as the most popular for this 2021.

The popularity of NFT

Perhaps for the less knowledgeable it may be a completely new term, but the NFT, diminutive for “Non Fungible Tokens”, basically it is the expression that is used to refer to digital collectibles, that is, virtual items linked to a unique digital certificate, registered in a Blockchain network, with which the ownership of a particular asset can be demonstrated, whether it is of a collector’s item, artwork, or limited edition piece.

In addition to proving ownership of a completely unique item, the NFT gained much relevance within the art sector, precisely for reinforcing the scarce nature of each work supported in Blockchain.

Although the concept may seem of little importance to some, let us bear in mind that the ecosystem of NFT It currently enjoys great prestige, especially thanks to the large amounts of capital for which some works are marketed. This has even led companies in the traditional sector to venture into this space, as is the case of Playboy, Cocacola, Marvel, DC and many others, and as additional data, the most expensive digital collectible in history was sold for about USD $ 63.9 million through Christie’s.

The most popular word for Collins Dictionary

But the recently awarded award was disclosed in reports published by various media, which highlight that the choice of NFT as winner in this category by Collins puts the term above other popular words even within the ecosystem, such as the term “Crypto”.

It also highlights that this election also sets aside other terms that went viral throughout this year. One of the candidates for word of the year was also “Cheugy”, expression to denote someone or something outdated, which went viral thanks to TikTok.

Another expression that has been gaining a lot of relevance in 2021 but that did not reach this award was the word “Metaverse”, which refers to the new digital world in which several companies are already beginning to develop products and services. Perhaps the most emblematic case is that of Facebook, since the company responsible for the social network decided to change its name to Meta, precisely to focus on this new line of products and services.

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Let us bear in mind that for the past 2020 the most popular word chosen by Collins Dictionary it was just “Lockdown”, which became much more relevant in the framework of the COVID-19 pandemic as most of the world’s population was confined to avoid contagion.


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Source: CNN

Version by Angel Di Matteo / DailyBitcoin

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