Merriam-Webster is Selling Its Definition of an NFT, as an NFT
Riley von Niessen — May 13, 2021 — Social Good
References: teachforall.org & opensea.io
In line with the recent popularity of NFTs, Merriam-Webster has announced its very own, allowing consumers to purchase its official definition of "NFT," as a non-fungible token.
The NFT will be sold as an exclusive animation, which shows a Merriam-Webster dictionary opening up to reveal the definition, which is listed 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 (as of a specific digital asset and specific rights relating to it).'"
The NFT is currently being auctioned on OpenSea, where the top bid has already surpassed $20,000. Net proceeds from the sale will go towards Teach For All, a global network that brings educational opportunities and support to children in need.
Image Credit: Merriam-Webster
The NFT will be sold as an exclusive animation, which shows a Merriam-Webster dictionary opening up to reveal the definition, which is listed 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 (as of a specific digital asset and specific rights relating to it).'"
The NFT is currently being auctioned on OpenSea, where the top bid has already surpassed $20,000. Net proceeds from the sale will go towards Teach For All, a global network that brings educational opportunities and support to children in need.
Image Credit: Merriam-Webster
Trend Themes
1. NFT Definition Sales - The trend of selling NFTs of the definition of popular terms and concepts provides a new revenue stream for businesses that have established themselves as a source of authority in the field.
2. Charitable Nfts - The trend of using NFT sales to raise money for charitable causes provides an innovative way for organizations to reach new donors and support social causes.
3. Animated Nfts - The trend of creating animated NFTs adds a new level of creativity to the market and expands the possibilities for artistic expression and storytelling.
Industry Implications
1. Publishing and Media - Publishers and media organizations can adopt the trend of selling NFTs of definitions and concepts to monetize their expertise and generate new revenue streams.
2. Non-profit and Charity - Charities and non-profit organizations can adopt the trend of creating charitable NFTs to raise money for social causes and attract new donors through innovative fundraising methods.
3. Art and Entertainment - The trend of creating animated NFTs opens up opportunities for artists and entertainers to create unique and interactive digital experiences that could disrupt the traditional art market.
2.3
Score
Popularity
Activity
Freshness
