Register

    Collins Dictionary picks NFT as word of the year 

    By SHOOTUpdated:No Comments3208 Views
    An NFT, or non-fungible token, is displayed on a billboard in Time Square, New York, on Nov. 4, 2021. Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream. NFT is short for non-fungible token. Collins defines it 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." (AP Photo/Seth Wenig)
    LONDON (AP) --

    Collins Dictionary has chosen the term NFT as its word of the year after surging interest in the digital tokens that can sell for millions of dollars brought it into the mainstream. 

    NFT is short for non-fungible token. Collins defines it 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." 

    Most people didn't know what an NFT was until this year, when sales boomed, sparked in large part by artist Beeple's March auction of a digital collage NFT for nearly $70 million. Other highlights include Twitter CEO Jack Dorsey selling an NFT of his first tweet for $2.9 million and electronic musician Grimes selling $6 million worth for her digital art. 

    Experts at Collins, based in Glasgow, Scotland, said Wednesday they chose NFT because of its "meteoric rise in usage," up 11,000% in 2021. 

    "NFTs seem to be everywhere, from the arts sections to the financial pages and in galleries and auction houses and across social media platforms," said Alex Beecroft, managing director of Collins Learning. But whether NFT will have a lasting influence is yet to be determined, he added. 

    The Oxford English Dictionary's publisher, meanwhile, recently chose vax as its word of the year, as interest in vaccinations spiked over the past 12 months . 

    REGISTRATION REQUIRED to access this page.

    Already registered? LOGIN
    Don't have an account? REGISTER

    Registration is FREE and FAST for UNLIMITED ACCESS to all SHOOT pages using either your email or social login (LinkedIn, Facebook, Google or X)

    The limited access duration has come to an end. (Access was allowed until: 2021-11-29)
    Tags:Collins DictionaryNFTword of the year



    Movement Strategy acquires Newfangled Studios

    Monday, May 19, 2025
    Newfangled Studios' Macaela VanderMost (l-r) and Movement Strategy's Eric Dieter and Jason Mitchell

    Social-powered agency Movement Strategy has acquired creative production agency Newfangled Studios. The news marks a new era for the two independent social media agencies. Together, they have more than 16 years of experience and creative, strategic, production, performance and paid media capabilities that will allow clients to put social at the core of their brand strategies. Led by CEO Jason Mitchell and president Eric Dieter, Movement has worked with brands like Amazon, Netflix and Intuit. The shop has been recognized by the Webbys and Clio Awards as well as being named a Shorty Awards Small Agency of the Year. Meanwhile, Newfangled--led by CEO Macaela VanderMost--has produced creative for longtime clients like Google and Bank of America. The acquisition comes in response to brands’ growing creative production needs in social media, which has become a leading marketing channel, as well as the rapidly increasing influence of social and creators on culture and purchasing decisions. “Brands need agency partners that can not only implement social-first ideas across a diverse range of platforms, including emerging channels, but also meet the growing demand for scale and quality in content production,” said Mitchell. “Adding Newfangled allows us to take a big step toward giving brands the ability to tap into the full-funnel opportunities that social media enables. Together, we can lead their brand-building efforts, with results that prove that social isn’t an add-on but central to how they connect with people.” VanderMost added, “Bringing together our ability to execute huge creative campaigns and Movement’s community management, strategy planning and media buying is the perfect solution for any forward-thinking brands that want holistic,... Read More

    MySHOOT Profiles


    Add A Comment