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.
See also: NFT Marketplace OpenSea to Add Ethereum Layer 2 Protocol for Gas-Free Trading