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image depicting 'NFT' is Collins Dictionary's Word of the Year for 2021

‘NFT’ is Collins Dictionary’s Word of the Year for 2021

Recommended for Middle Grades

Every year, different dictionaries pick their word of the year. This is a word that has been used a lot throughout the year and created a big impact.

For instance, the Oxford English Dictionary (OED) chose ‘vax’ as the word of the year for 2021. And last year, Collins Dictionary picked ‘lockdown’ as the chosen word.

What is a dictionary?

A dictionary is a book that contains a list of words in alphabetical order and explains their meanings, or gives a word for them in another language

This year, Collins Dictionary has selected NFT as the word of year. NFT stands for Non-Fungible Token. It means something that is unique or one-of-a-kind that can be sold or bought but only online.

When you buy an NFT, you get a “token” – a digital certificate that shows you own the NFT. A record of who owns what NFT is stored on a blockchain (a kind of public record online).

This year, the word NFT was used 11,000 times more than last year. Many people bought and sold NFTs, that too, for huge sums of money. One of the famous ones was the original computer code for the World Wide Web

Other popular words in 2021

Some of the other popular words this year included “crypto” (short for cryptocurrency), “metaverse” (after Facebook changed its name to Meta), “double-vaxxed” and “climate anxiety”.

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