Collins Dictionary announces NFT as word of 2021
The Collins Dictionary has announced its shortlist for word of 2021, and declared NFT, the abbreviation of non-fungible token, as top of the heap, beating out the likes of crypto, metaverse and hybrid working.
In an online post, Collins Dictionary says that NFT is “certainly a buzzword we’ve heard over and over again in the past 12 months, in breathless news reports and on social media.”
It goes on to define 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. In other words, it’s a chunk of digital data that records who a piece of digital work belongs to.”
The post adds: “Unique is important here - it’s a one-off, not “fungible” or replaceable by any other piece of data. And what’s really captured the public’s imagination around NFTs is the use of this technology to sell art.”
“For example, the rights to a work by the surrealist digital artist Beeple sold at Christie’s in March for $69 million.”
“Called EVERYDAYS: THE FIRST 5000 DAYS, it was a collage of all the images he’d created since he committed in 2007 to making one every day.”
Macy’s
The Macy’s Thanksgiving Day Parade celebrates its 95th anniversary this year with a drop of 9,500 free NFT artwork, featuring balloons from past events in support of Make-A-Wish.
A charitable auction of 10 NFTs began on Friday, 19th November. Limited edition free Macy’s Parade NFTs launch on Thursday, 25th November.
These are designed by REOMETRY, a digital agency led by NFT artists REO and Seth Brown.
“As we celebrate our rich legacy, 95 years in the making, we were struck by the unique place the Parade holds in pop culture, always evolving and reflecting the greatest characters and artists of each generation,” says Will Coss, Executive Producer at Macy’s Thanksgiving Day Parade.
“To celebrate that history, we created art in a new form through NFTs that would bring the magic of the Parade to a new generation while raising funds for our partner Make-A-Wish.”
Powered by Sweet’s NFT platform and built atop the Polygon blockchain, Macy’s says that the initiative will be carbon-neutral and easy for all Parade fans to collect, trade and sell.
If NFT owners decide to sell in the after-market on compatible marketplaces, 10% of any sales generated will be donated to Make-A-Wish, in perpetuity.
In a press release, Macy’s says that “by employing NFT technology in this way, it is forging a path of charitable contributions that goes far beyond what traditional methods can achieve.”
“The 9,500-piece free generative Macy’s Parade NFTs will be distributed to Parade fans randomly and will come in various degrees of rarity including Classic, Rare, or Ultra Rare.”
-
Southeastern Grocers, parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, is deployi… https://t.co/Q5En8j6cEc -
Check out the week's coolest retail technology plays, including @obsessVR @OcadoGroup @AEON_JAPAN @braincorp… https://t.co/RH2BIf6Jol
-
RTIH presents the retail technology week in numbers, including @CovariantAI @RetailTechShow @DennysDiner… https://t.co/WURUUgdCr0
-
Our Editor @ScottThomps74 rounds up the biggest retail tech stories from the past week including @BootsUK… https://t.co/IWj7BebUB1
Continue reading…