The acronym in English NFT, which represents the term “non-fungible token”, was chosen as the word of the year 2021 by the team from the Collins Dictionary, a printed dictionary published by HarperCollins. By the established definition, NFT is a unique digital certificate, registered on a blockchain, used to record the governance of an asset, which can range from artworks to tweets.
After millionaire auctions and several discussions involving the system that involves it, the use of the term NFT grew by 11,000% over the year, according to Collins. The most expensive piece auctioned so far was “Everydays: the First 5000 Days,” which sold for $69.3 million — about R$ 387.87 million.
“BREAKING NEWS The Collins Word of the Year is…NFT”
The term surpassed other words related to its technological universe such as “metaverse”, which describes the virtual world being spread after the Facebook announcement, and “crypto”, an abbreviation for “cryptocurrency”. Even “cringe” that was the subject of discussions, jokes and trends around the world was debunked by the NFT.
The word chosen by Collins for the year 2020 was “lockdown”. In October, the Oxford dictionary chose “vax” — a shortened term for the word “vaccine” in English — as the year 2021 chosen.