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Wednesday, December 1, 2021

NFT hype gets endorsed with Word of Year award

NFT hype gets endorsed with Word of Year award

‘Metaverse’, ‘crypto’ and ‘vax’ also made the Collins list

Visitors are pictured in front of an immersive art installation titled “Machine Hallucinations — Space: Metaverse” by media artist Refik Anadol, which will be converted into NFT and auctioned online at Sotheby’s, at the Digital Art Fair, in Hong Kong on Sept 30 this year. (Reuters photo)

The Collins Dictionary declared “NFT” its word of the year for 2021 in recognition of the convergence of the worlds of money, tech and art in what became known as “non-fungible tokens”.

NFTs have exploded in popularity this year with the help of collectors, speculators and celebrity endorsers stirring up hype — and funding — for them.

Collins defines them as “a…

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See also  Payment profusion

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