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Friday, December 3, 2021

NFT or non-fungible token is Collins Dictionary’s word of the year


The phrase NFT (short for non-fungible token) has been made word of the year by Collins Dictionary.

According to the report, use of the abbreviation increased by more than 11,000 percent in 2021.

NFTs are digital ownership certificates, allowing original versions of viral videos, memes, or tweets to be sold as art.

And from the Charlie Bit My Finger video to the Harambe the gorilla photo, NFT sales have made some people very rich this year.

According to Collins Dictionary’s Alex Beecroft, such a rapid increase in usage of an abbreviation is “unusual.”

“Whether the NFT has a long-term impact remains to be seen, but its sudden appearance in conversations around the world makes it very clearly our word of the year,” he added.

NFT is one of three tech-based words to make Collins’ new words list, as well as “crypto”, the short form of cryptocurrency such as Bitcoin, and “metaverse”, which describes a three-dimensional virtual world.

Other words on Collins’ list include:

  • “Climate anxiety” – reflecting people’s growing concerns about climate change and the perceived lack of action to tackle it
  • “Neopronoun” – words that serve as pronouns but, unlike “he” or “she”, are free of gender
  • “Cheugy” – a slang term used to describe, and dismiss, anything seen as hopelessly uncool or unfashionable
This dare-we-say iconic photo of Harambe the gorilla was sold as an NFT

The word of the year in 2020 was “lockdown,” and the pandemic’s influence on language remains strong.

“Pingdemic” is on this year’s list, following self-isolation rules but putting pressure on UK workforces.

Collins claims that the terms “hybrid working” and “double-vaxxed” are also becoming more popular.

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