‘NFT’ takes top spot for Word of the Year

Collins Dictionary has announced that NFT has taken top spot as word of the year for 2021. It overtook other popular choices like “cheugy”, “pingdemic”, “crypto”, “metaverse” and “double-vaxxed”.

NFT, an abbreviation of “non-fungible token”, is what Collins defines 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.” It recognises the intersection of art, money and tech.

According to Collins, “NFT” has seen a “meteoric” rise in popularity this year, growing 11,000% in usage in 2021. However, despite being a new term on the scene, it’s unknown how long it will stay around for.