NFT wins Collins Dictionary Word of the Year Award for 2021

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Collins Dictionary named "NFT" their Word of the Year for 2021.
The market for non-fungible token shot to prominence as high-profile celebrities stirred up the hype.

Alex Beecroft, managing director of Collins Learning, told The Guardian that the data they have from the Collins Corpus shows that the NFT is going to be the most used abbreviation in the world in 2021. "NFTs seem to be everywhere."

NFT is a unique digital certificate that is used to record ownership of an asset such as an artwork or a collectible.

NFTs can be anything from artwork to sports cards. Some experts told Insider that one day they could be used by the government to store personal information.

NFTs are mostly status symbols for people who are wealthy. "Everydays: The First 5000 days" sold for 69 million dollars in March. Over the last several years, Beeple created 5,000 pieces of digital art. Christie's said the sale was the most expensive piece of digital art ever sold.

The dictionary has a short list of 10 words.

The runner-up words were related to the flu. "double-vaxxed," " hybrid working," and "pingdemic" are the names used by the media to describe the epidemic of absences from work caused by "pings" from apps that warned users if they'd been in close contact.

"Climate anxiety" made the list because of the United Nations Climate Change Conference.

Words that nodded to a cultural phenomenon rounded out the top 10.
"Neopronoun" is a gender neutral pronoun to replace he or she. "Regencycore" refers to a fashion aesthetic influenced by the popular series Bridgerton, while "cheugy" refers to someone or something that is out of date.

"lockdown" was Collins' Word of the Year in 2020. "vax" was picked as the top word for 2021.

Business Insider has an original article.