SPRINGFIELD, Mass., May 11, 2021 /PRNewswire/ — Merriam-Webster today announced it is auctioning the NFT (non-fungible token) of its definition of «NFT.» The definition was added to the publisher’s iconic dictionary this morning.
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Net Proceeds from the auction will go to Teach For All, a network of organizations in 60 countries working to ensure all children have the education, support, and opportunity to fulfill their potential.
«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 Peter Sokolowski, Merriam-Webster’s Editor-at-Large. «And while the NFT itself may not be fungible, the knowledge we’ve created certainly is and we’re excited to share it.»
This first-of-its-kind auction is available on OpenSea, the world’s largest digital marketplace for crypto collectibles and NFTs. It is open for bidding on opensea.io from 9:30 a.m. EST on Tuesday, May 11 until 11:59 PM EST on Friday, May 14. The highest bidder will win the NFT, and will also receive a link to their OpenSea profile from the NFT definition page on Merriam-Webster.com.
«This project is about establishing NFTs as a medium with lasting value through the permanence of a record in the country’s most-trusted dictionary,» said Nate Chastain, Head of Product at OpenSea. «We’re excited that a brand like Merriam-Webster is using NFTs to engage with its audience in new ways.»
The NFT auction accompanies Merriam-Webster adding this definition to the dictionary:
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)
«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.»
To learn more about Merriam-Webster and the auction of «NFT,» please visit https://opensea.io/collection/merriam-webster.
About Merriam-Webster Inc.
For over 180 years, Merriam-Webster has been America’s leading provider of language information. Each month, our award-winning websites, apps, and social media channels offer guidance to tens of millions of visitors. In print, our publications include Merriam-Webster’s Collegiate® Dictionary (among the best-selling books in American history) and dictionaries for English-language learners. All Merriam-Webster products and services are backed by the largest team of dictionary editors and writers in America.