What does txt mean in texting?

Excuse me, I'm a bit confused about something I've seen in text messaging. Could you please clarify for me what does "txt" mean in this context? I've noticed it being used frequently in place of "text" and I'm wondering if it's a commonly accepted abbreviation or if it's just a personal preference. I'm trying to stay up-to-date with the latest linguistic trends and would appreciate any insight you can provide.