Merriam-Webster Dictionary will be auctioning an NFT of the definition of the word “NFT.“
The dictionary will be selling off the NFT in a public auction on Friday, May 14, with all proceeds going to the Teach for All charity. Teach for All looks to develop leadership in classrooms and communities to ensure all children can fulfill their potential around the world.
The auctioning of the NFT also welcomes the definition of NFT that can now be found in the online dictionary.
To garner a greater understanding
Merriam-Webster’s editor-at-large, Peter Sokolowski, explained that selling the NFT would garner a greater understanding for the word and its function.
“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. And while the NFT itself may not be fungible, the knowledge we’ve created certainly is and we’re excited to share it.”
“When a new word makes its way into the world’s lexicon, our ears at Merriam-Webster perk up,” said Sokolowski. “Over the past several months, NFT has rocketed into popular culture, and the team at Merriam-Webster crafted a definition to provide meaning to this emerging technology.”
The definition that has been entered into the Merriam-Webster Dictionary describes an NFT as “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).”
Merriam-Webster’s announcement of the new NFT comes in the wake of American entrepreneur Gary Vaynerchuk throwing his weight behind NFTs and believes the space is here to stay as the businessman launched his own NFT project.