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The publisher announced on Tuesday that it will be selling the official definition of a non-fungible token (NFT) as a, you guessed it, NFT. The auction will begin on Tuesday and close at 11:59 p.m. ET on Friday. It will take place on the OpenSea platform, and the proceeds will be donated to Teach For All ,which is “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,” Merriam-Webster’s editor-at-large, Peter Sokolowski, said, per Gizmodo. “And while the NFT itself may not be fungible, the knowledge we’ve created certainly is and we’re excited to share it.”
OpenSea is the world’s largest digital marketplace for crypto collectibles and NFTs. To the company’s head of product, Nate Chastain, Merriam-Webster’s involvement in NFTs gives the marketspace the credibility it deserves.
“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,” Chastain said. “We’re excited that a brand like Merriam-Webster is using NFTs to engage with its audience in new ways.”
The NFT auction will accompany Merriam-Webster adding a definition of NFT to the dictionary that reads: “NFT (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).”
Along with the NFT, the winner will also receive a link to their OpenSea profile on the “NFT” definition page on Merriam-Webster.com.