NFT Beats Cheugy as the Year’s Most Popular Word

NFT beats cheugy as the year’s most popular word. As the word of the year, Collins Dictionary has chosen NFT in recognition of a year. That has seen the musician Grimes sell a collection of digital artworks for nearly $6 million (£4.4 million). And the original photo that inspired the 2005 Disaster Girl meme sell for $473,000 (£354,000).

According to Collins, the abbreviation for non-fungible token has seen a “meteoric” increase in usage. Over the previous year, with usage increasing by 11,000 percent in only one year. Any digital work has the potential to become an NFT, with the word referring. To a certificate of ownership that is registered on a blockchain. Which is a digital ledger of transactions that records transactions. At the moment, the most valued NFT is a collage by digital artist Beeple. In which sold for £50.3 million at Christie’s auction house in March this year.

A unique digital certificate, registered in a blockchain and used to record ownership of an asset. Such as an artwork or a collectible, according to Collins. The company’s lexicographers chose NFT as the word of the year. After studying the company’s 4.5 billion-word Collins Corpus. They said it represents a “unique technicolor collision of art, technology. And commerce” that has “broken through the Covid noise” to become ubiquitous.

According to Collins Learning managing director Alex Beecroft, “It is unusual for an abbreviation. To undergo such a stratospheric spike in usage, but the data we have from the Collins Corpus. Reflects the amazing ascendancy of the NFT in 2021.” “NFTs appear to be everywhere, from the arts sections to the finance pages, as well as at galleries.

NFT topped two other tech-related words on Collins’ top 10 list

Earlier this month, the Oxford English Dictionary picked vax as its word of the year. Noting that the word was used more than 72 times more frequently. In September than in the same month the previous year.

NFT beats out two other technology-related words on Collins’ shortlist of the year’s top ten words. Crypto, which is the short form of cryptocurrency, and metaverse, which was coined by Neal Stephenson in his 1992 novel Snow Crash. And has seen an increase in usage of 468 percent year on year, according to Collins. The term “metaverse,” which refers to a three-dimensional virtual environment. Such as that planned by Meta, Mark Zuckerberg’s rebranded Facebook company. It has increased in popularity by a factor of 12 since 2020.

Other words and phrases that made the cut included the Covid-focused pingdemic. Hybrid working, and double-vaxxed, while climate anxiety made the cut. As a result of increased fears about global warming.

It was also highlighted that the use of neopronouns has increased in recent years, owing. To ongoing discussions about gender and the depiction of trans and non-binary persons. The term is defined by Collins as “a recently coined pronoun, particularly one aimed to circumvent gender distinctions.”

Collins selected “lockdown” as its word of the year for 2020, and “climate strike” as its word of the year for 2019.

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