The Collins Dictionary has officially announced their ten-word annual shortlist for word of 2021, as well as declaring that NFT \u2014 though technically understood to be an abbreviation for nonfungible token \u2014 is their word of the year, surpassing the likes of crypto, metaverse and hybrid working, among others.<\/p>\n
The blog post spoke frankly about the prospect of a digital revolution through a “convergence of money and the internet,” which seeks to challenge and evolve traditional mediums of payment into the 21st century.<\/p>\n
Collins Dictionary defines an NFT as \u201ca unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible,\u201d and it was further noted in their blog post that NFT\u2019s signify:<\/p>\n
\u201cA chunk of digital data that records who a piece of digital work belongs to\u2026 what\u2019s really captured the public\u2019s imagination around NFTs is the use of this technology to sell art.\u201d<\/p><\/blockquote>\n
The institution cited infamous NFT artist Beeple\u00a0as a prominent contributor to the space and unsurprisingly denoted his landmark magnum-opus, Everydays: The First 5000 Days, a piece auctioned for a market-high of $69 million in March this year, the third-highest physical or digital art sale in history.<\/p>\n
The NFT market has witnessed parabolic growth over the past twelve months, enticing a tidal wave of celebrities, influencers and Web 3.0 fanatics to engage with the space. Collections such as CryptoPunks, Bored Ape Yacht Club and Cool Cats have captured the essence of the Twitter-native profile picture project (pfp) space.<\/p>\n
Furthermore, the emergence of NFT auctions by\u00a0traditional auction houses like Christie\u2019s and Sotheby\u2019s are providing a global pedal stool to drive adoption, a theme which was shared by the co-founder and chief operating officer of CoinGecko,\u00a0Bobby Ong, in a recent conversation with Cointelegraph.<\/p>\n
Combined total sales for collectible and art NFTs surpassed $7.4 billion as of Q4 2021. For comparison, art and collectible sales recorded $17.8 million and $55.5 million, respectively, at the start of this year, figures which seem incomprehensible in current flourishing market.<\/p>\n
For greater context into the NFT inclusion, fellow United Kingdom establishment Oxford Dictionary recently awarded their prestigious word of the year to Vax, a symbol of the significant impact COVID-19, and subsequent vaccination programs have had on the world over the past two years.<\/p>\n
Related:\u00a0How Solana and Cardano are paving new avenues for NFT growth<\/em><\/strong><\/p>\nThe Oxford Dictionary first debuted cryptocurrency terminology in their online edition in August 2013 with the introduction of Bitcoin. The word cryptocurrency followed suit just under a year later, while more recently, Satoshi joined the exclusive list of linguistic arbitration.<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The Collins Dictionary has officially announced their<\/p>\n","protected":false},"author":3,"featured_media":145722,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
Collins Dictionary announce NFT as word of 2021 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Collins Dictionary announce NFT as word of 2021 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The Collins Dictionary has officially announced their\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-24T19:27:25+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/Collins-Dictionary-announce-NFT-as-word-of-2021.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/\",\"name\":\"Collins Dictionary announce NFT as word of 2021 - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-11-24T19:27:25+00:00\",\"dateModified\":\"2021-11-24T19:27:25+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Collins Dictionary announce NFT as word of 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Collins Dictionary announce NFT as word of 2021 - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/","og_locale":"en_US","og_type":"article","og_title":"Collins Dictionary announce NFT as word of 2021 - Pre Coin News","og_description":"The Collins Dictionary has officially announced their","og_url":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/","og_site_name":"Pre Coin News","article_published_time":"2021-11-24T19:27:25+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/Collins-Dictionary-announce-NFT-as-word-of-2021.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/","url":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/","name":"Collins Dictionary announce NFT as word of 2021 - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-11-24T19:27:25+00:00","dateModified":"2021-11-24T19:27:25+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/collins-dictionary-announce-nft-as-word-of-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Collins Dictionary announce NFT as word of 2021"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/145723"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=145723"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/145723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/145722"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=145723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=145723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=145723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}