Merriam-Webster has added a definition of non-fungible token (NFT) to its dictionary and will auction an animated NFT of the definition this week.
- The new definition reads: “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.”
- The auction is taking place on NFT marketplace OpenSea with bidding commencing from 09.30 a.m. ET May 11 and closing at 11:59 p.m. ET May 14, according to an announcement Tuesday.
- Net proceeds from the auction will be donated to Teach For All, a network of organizations from 60 countries aiming to tackle educational inequality around the world.
- Peter Soklowski, Merriam-Webster’s editor-at-large, described the auction as “a fun way to own a little bit of Merriam-Webster’s thought and learning.”
- Merriam-Webster added “cryptocurrency” and “blockchain” to its venerable dictionary in March 2018, with “bitcoin” having been added nearly two years earlier.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.