Collins Dictionary Chooses NFT as Word of the Year for 2021

NFT has emerged in the crypto market in 2020 and was consolidated in 2021: non-fungible tokens, better known by the acronym NFT. You may have already talked about this cryptoactive, which has invaded the fashion, arts, and games industries.

The success of NFTs has gone beyond the crypto market and even captured the Collins dictionary. With the end of the year approaching, the word “NFT” was chosen by the dictionary as the 2021 word.

According to the managing director of Collins Learning, Alex Beecroft, the boom of NFTs in the market was decisive for the team’s term.

“It’s unusual for an abbreviation to have such a meteoric rise in usage, but the data we have from the Collins Corpus reflects the remarkable rise of the NFT in 2021. NFTs seem to be everywhere, from the arts sections to the financial pages and galleries and auction houses and across all social media platforms. Whether the NFT will have a lasting influence remains to be determined, but its sudden presence in conversations worldwide makes our word of the year very clear.”

The term NFT conquered the Collins dictionary due to its increased search for internet searches. The word even surpassed the term cheugy, pointed out as the top favorite.

But, with an impressive 11,000% increase in internet search between 2020 and 2021, NFT was chosen by  Collins Dictionary as the word of the year.

Source: G1

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