“NFT” is 2021’s “Word of the Year,” Collins Dictionary announced Wednesday.
NFT is an abbreviation for non-fungible token, which according to the dictionary is “a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible.”
Perhaps the most well-known example of an NFT is “Everydays: The First 5000 Days,” a collection of digital art made by graphic designer Mike Winkelmann, better known as Beeple. In March, an NFT for the piece sold for $69.3 million.
Because of the blockchain technology, Beeple will continue to earn money each time his art details ⇒
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