Hong Kong, Nov. 25 -- NFT, which is an abbreviation of non-fungible token, has been selected as the word of the year by the Collins Dictionary.

According to Collins, the use of the word rose by over 11,000 percent in 2021, which helped its lexicographers to pick NFT for the top spot over other words such as "crypto", "cheugy" and "metaverse". A look at why Collins Dictionary chose NFT as its word of the year Why 'NFT'? Some collectibles on NFT platform OpenSea. Image: Courtesy OpenSea

Collins defines NFT 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." It also recognises it as an "asset whose ownership is recorded by means of a non-fungible t...