“NFT,” “crypto,” and “metaverse” are some of the words that made it into this year’s top ten words of Collins Dictionary.
Collins Dictionary released its top ten words for 2021 on Wednesday. Among the words that have seen a surge in use throughout the year, “NFT” has seemingly surpassed them all.
It is not surprising, considering the rise of popularity of blockchain technology. As it happens, its applications have expanded from one industry to another, including art, gaming, sports, entertainment, and even fashion.
The Independent recently released a report on the matter, detailing all the words that made it into the list and explaining each of them.
NFT stands for Non-Fungible Token
Experts at Collins Dictionary reportedly revealed that they had seen more than an 11,000 percent rise in the use of the word, “NFT” in 2021. It is the abbreviation for Non-Fungible Token, which is a unit of data stored on a blockchain.
Collins Learning managing director Alex Beecroft shared some of his thoughts about it. He said that it is “unusual” to see an abbreviation have a “meteoric rise” in usage.
He continued that non-fungible tokens are seemingly everywhere. Anyone can come across the word on social media platforms, financial pages, art sections, auction houses, and even galleries.
Beecroft consequently noted that the word’s “sudden presence” in conversations across the globe makes “NFT” the dictionary’s Word Of The Year. But, as to whether it will have a lasting influence on the public, he said that it is “yet to be determined.”
The future of Non-Fungible Tokens
NFT represents a unique digital item. It is irreplaceable with something else, hence, the name “non-fungible.”
As pointed out, the application of blockchain and integration of NFTs have already reached across numerous industries. To date, they are seemingly becoming more accessible through games and artworks.
While some believe it to be “the future,” the perception still varies. There are those that refuse to get into it, like Valve, which recently banned all blockchain and NFT-based games on Steam.
A recent article from Games Rant even deemed it a “step backward” due to the consequences the technology poses to society and the environment.
Other leading words on the list
Meanwhile, Collins Dictionary’s top ten words for 2021 also include “double-vaxxed,” “pingdemic,” and “hybrid-working.” These appear to have links to the COVID-19 crisis that the world continues to face today.
“Climate anxiety,” “neopronouns,” “cheugy,” and “regencycore,” also made it to the same list.
But, in relation to technology, “NFT” is not alone. “Metaverse” and “crypto” have also proven to be popular terms that the public has used in the last few months.
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