The start of every bad essay: Collins Dictionary defines NFT, “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.” FAD. I give these noun-fangled twerkens or whatever they are maybe 2 more weeks. ??????https://t.co/i5BtyxBmMO — beeple (@beeple) November 25, […] The post Collins Dictionary Names NFT Word Of The Year appeared first on CryptosRus.

Collins Dictionary Names NFT Word Of The Year

The start of every bad essay: Collins Dictionary defines NFT, “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.”

Collins Dictionary announced yesterday that they’ve named NFT the “Word Of The Year.” NFT narrowly beat out the likes of Cheugy (no longer regarded as cool or fashionable) and RegencyCore (a style of dress inspired by clothes worn in high society during the Regency period).

Recommended: NFT 101: Answering The Questions You Are Too Afraid To Ask

  • In their top words of the year blog, the Glasgow-based dictionary went deeper on the significance of NFTs. “Unique” is important here — it’s a one-off, not “fungible” or replaceable by any other piece of data. And what’s really captured the public’s imagination around NFTs is the use of this technology to sell art.”
  • That’s true in terms of the mainstream, however, the most popular application of NFT tech according to DappRadar is pay-to-earn game Axie Infinity. Blockchain games don’t have quite the same mainstream notoriety of PFP projects like Bored Ape Yacht Club, but they are gaining popularity in the cryptosphere.
  • According to Collins Dictionary, NFT, “is one of three tech-based words” to make the list. The other two are also blockchain related: crypto and metaverse.
  • On crypto’s inclusion, Collins Dictionary had this to say: “While most of us might not understand exactly how it works, plenty of us now recognise the word, shorthand for “cryptocurrency”.
  • As the saying goes, “We are still early,” but as the inclusion of NFT, metaverse, and crypto in the top words of the year shows, it’s not as early as you think.

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