'NFT' announced as the Collins Dictionary word of the year for 2021
‘NFT’, or non-fungible token, has been revealed as Collins Dictionary’s word of the year.
Collins defines NFTs as “a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible”.
The technology has captured the imagination of the public after worldwide media attention has focused on their role in the art and entertainment industries.
The uniqueness of NFTs means they make ownership of artworks traceable, and are a way of verifying original copies.
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