decrypt.co
Merriam-Webster announced this morning that it’s added the initialism “$NFT” to its dictionary.
Here’s the definition:
$NFT
abbreviation or noun
: NON-FUNGIBLE TOKEN : a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership (as of a specific digital asset and specific rights relating to it)
Pretty good! The kicker is that the publisher is also auctioning the definition itself as an $NFT via OpenSea, one of the more popular online marketplaces for these blockchain-based digital collectibles.
"By auctioning the $NFT of our definition of '$NFT,' we're offering people a fun way to own a little bit of Merriam-Webster's thought and meaning," said Merriam-Webster editor-at-large Peter Sokolowski in a statement.
Rather than opting for a boring old image file, Merriam-Webster went with a primitive, 90s-style animated GIF of the definition being magically added to the dictionary. The sale started this morning and will run until Friday at 11:59 PM EST. And as with most gimmicky $NFT auctions, the proceeds are going to charity.
OpenSea, a startup, just raised $23 million in series A financing from the likes of Andreessen Horowitz and Mark Cuban.