With the rise of non-fungible tokens (NFT) taking the internet by storm, Merriam-Webster is riding the wave by selling its very definition of NFT as, well, an NFT.
Per a press release from the publishing company, the proceeds from the sale will be donated to Teach For All, a network of 60 worldwide organizations working toward providing education and support for disenfranchised children.
"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," shared Merriam-Webster's Editor-at-Large, Peter Sokolowski.
“And while the NFT itself may not be fungible, the knowledge we've created certainly is and we're excited to share it."
ICYDK, NFTs are a form of internet files that act as signatures to certify who owns certain online media. Merriam-Webster defines the asset 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.”
NFT can vary from art pieces, collectible cards, to even viral memes.
This first-of-its-kind auction is now ongoing on digital marketplace OpenSea from May 11 to May 14. The winner of the auction will also be mentioned in merriam-webster.com's webpage definition of NFT.
Photos from Merriam-Webster