A to Z: The Ultimate NFT Glossary

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NFT Glossary

The French philosopher Voltaire famously said, “If you want to converse with me, define your terms.” This statement could be exceptionally true for NFT beginners who may find NFT-related terminologies and slangs nothing more than gibberish.

NFT stands for Non-Fungible Token, which is neither physical nor replaceable. Contrary to the US Dollar, an NFT is a digital token existing virtually on the Internet. Unlike the former, which could be exchanged with another dollar bill of the same value, NFTs are distinctive tokens – thanks to their unique ID. Therefore, only one NFT of a kind exists.

Given the continuous advancement in systems and technologies that support NFTs, one must keep oneself abreast of the common terms, slang, and phrases used within the NFT community. 

Do not worry if you get overwhelmed by a plethora of such NFT-related terms spread across the virtual world, we have curated this A to Z guide of NFT glossaries just for you. Let’s get started.

NFT Terminologies

  1. 1:1 Art: Contrary to an NFT that is a part of a multi-edition virtual collection, a 1:1 Art is a single edition NFT. It is pronounced as ‘one of one’ Art.
  2. 10k project: An NFT collection with 10,000 unique pieces is referred to as a 10k project.
  3. Airdrop: An airdrop is a distribution of cryptocurrency, tokens, or NFTs that are sent to a web3 wallet address for free as a promotion, or as added value for participating in an experience or purchasing a digital asset. Airdrops can be used to add additional value or to draw attention to a brand or experience. For example, a digital asset issuer might airdrop a small number of their tokens to encourage people to sign up for their platform or to reward people for completing a task. Alternatively, a company might use an airdrop as a way to promote its product or service.
  4. Alpha: Alpha is the kind of information that gives you an advantage ahead of the majority of users in the NFT market. Using this alpha information, you can easily reap profits.
  5. Ape-ing (into something): Ape-ing refers to the behavior of heavily and hastily investing in an NFT project due to the fear of missing out. This is done without enough research and understanding of the NFT project.
  6. Asset: An Asset is a resource that can be used to create value. It can be tangible, such as cash and inventory, or intangible such as patents and brands.
  7. Avatar project: It is a collection comprising cartoon avatar NFTs that are shoulders-up pixelated characters or digital images of cartoons.
  8. Bearish: To be bearish is to expect that is to believe that value of an NFT is bound to go down in the future.
  9. Bitcoin: Bitcoin is the most popular decentralized digital currency. One can buy, sell and exchange Bitcoins directly. This transaction is done without the central control of governments or oversight of intermediaries like banks.
  10. Blockchain: Blockchain is a distributed database employed for securely storing information and data in a way that is accessible to the public. 
  11. Blue chip: An NFT project is deemed a blue chip only if it can survive a bear market and is considered reliable. Blue chip NFT collections and their respective artists are viewed to be of high quality in the NFT market.
  12. Bot: Bots are commonly used software programs for automating trade transactions, executing NFT-related commands, sniping cheap NFTs the moment they get listed, performing online searches, and initiating identity verification. All of this is done automatically or with minimal human interference.
  13. Bridge: It refers to a fee-based connection permitting the transfer of arbitrary information and NFT tokens from one chain to another and vice versa.  
  14. BSC: Binance Smart Chain (BSC) is a blockchain running parallel to Binance Chain and offering programmability and interoperability on the Binance Chain.
  15. BTC: It is a short form of Bitcoin.
  16. Bullish: Being bullish is the expectation that the value of an NFT is bound to rise. This approach is marked by long strategies for positive price expectations.
  17. Burn / Burning: Burning an NFT simply means destroying it. The burnt NFT is removed from circulation as it is sent to a black hole address. However, the NFT does not get ‘destroyed’ but becomes unusable.
  18. Collectible: It is a unique piece of digital art (such as a picture, song, etc.) with an intrinsic value.
  19. Community Designated Seller (CDS): Community Designated Seller (CDS) is a person responsible for establishing a private address for people wishing to sell their digital collectibles.
  20. Crypto: It is a short form for cryptocurrency.
  21. Cryptocurrency: It refers to a digital currency. As it operates on blockchain technology with cryptography, it is almost impossible to steal or forfeit cryptocurrency. 
  22. Crypto Twitter (CT): It is a niche community of Twitter users who tweet and discuss exclusively cryptocurrency. Crypto Twitter gives rise to speculation, memes, and social initiatives by comprising influencers, investors, and developers.
  23. Decentralized apps (dApps): Decentralized Applications (dApps) are powered by smart contracts and run on decentralized networks without the requirement of a centralized third party.
  24. Decentralized Autonomous Organization (DAO): A decentralized autonomous organization (DAO) is a club for crypto partisans that runs on the blockchain using smart contracts.
  25. DEX: It is a peer-to-peer marketplace for users who wish to trade cryptocurrencies without intermediaries like brokers, banks, or payment processors. 
  26. DeFi: Abbreviation for Decentralized Finance; that aims to disarm the financial authority from banks and other financial institutions. DeFi offers a fast and secure P2P model for payments, yield aggregation, lending, borrowing, and margin trading.
  27. Degen: An investing style characterized by high speculation and risk factor, a degen rushes to buy popular NFTs by relying on luck instead of research.
  28. Delist: It refers to canceling the listing of the sale of an NFT project.
  29. Derivative: When an NFT project uses intellectual property and some or the other creative assets of an existing project, it is then termed an NFT derivative project.
  30. Devs: Abbreviation for Developer; certified and skilled professionals who know the ins and outs of NFT mechanisms and NFT projects, and build NFT-based platforms for businesses are called Devs.
  31. Diamond hands: Someone with a high-risk tolerance is referred to as having diamond hands. Those with diamond hands single-mindedly hold their NFT assets and don’t sell them in a panic.
  32. Discord: Discord is an all-in-one voice and text chat for gamers and Discord has over 15 million active users. It allows you to have multiple channels with their own settings. This can help keep people in your group separate, which is especially helpful if you have someone who tends to jump around between different channels during the day.
  33. Dutch auction: In a market structure such as that of a Dutch auction,  an NFT’s value is determined after tallying in all the bids placed so as to ascertain the highest price for selling the total offering.
  34. ENS (.eth): The Ethereum Name Service (ENS) is a lookup service and extensible naming system based on the Ethereum blockchain.
  35. ERC-721: It refers to the first-ever developed token standard supporting NFT assets.
  36. ETH: Ether(ETH) is used for programming dApps, making P2P payments, and enabling smart contracts as it is the crypto-fuel for the blockchain of Ethereum.
  37. Ethereum: It refers to the primary blockchain employed in the world wide web ecosystem for NFT trading, P2P transactions, and crypto gaming.
  38. Etherscan: Etherscan is a blockchain explorer which displays information about smart contracts. It can be used to view Ether transactions, details regarding their state, and links between them.
  39. Exchange: NFT Exchange refers to a virtual platform for a decentralized and secure avenue for owners and customers to trade their NFT projects and tokens respectively.
  40. Farm: It means generating income using NFTs and involves disbursing loans, chipping into liquidity pools, and acquiring and holding certain NFTs.
  41. Fiat: It is synonymous with a regular currency that the government of the nation-state issues. For example, US dollars, British Pound, etc.
  42. Flip: It is the practice of buying and selling NFTs in order to reap quick profits, particularly during the initial stage of NFT projects marked by higher demand.
  43. Floor: It is the lowest existing market price of an NFT project.
  44. Fractional ownership:  It means that you do not possess the whole NFT but only a fraction of it.
  45. FUD: FUD stands for “fear, uncertainty, and doubt”, a phenomenon wherein some negative rumors about the price drop of an NFT project makes people sell their assets hastily due to FUD.
  46. Fungible Tokens (FT): Unlike NFT, it refers to a changeable token (like Bitcoin) on a blockchain.
  47. Fungibility: It essentially means replaceability. Unlike NFT projects (like paintings, songs, etc), Euros are fungible as a Euro owed can be paid using any other Euro bill in existence.
  48. GameFi: A word play of game and finance, GameFi refers to play-to-earn blockchain games offering NFT rewards and cryptocurrency as incentives for people playing them.
  49. GAS: It refers to the fees paid to make transactions on blockchains for compensating for the computing energy used to validate and process NFT transactions.
  50. Gas war: NFT gas wars happen when many users struggle to lay their hands on a certain NFT during its project launch or a high-value sale.
  51. Generative art: In Generative art, each NFT has certain pre-built image layers and a set of unique traits for creating NFT art images in the collection.
  52. Governance tokens: Developers create these tokens to shape the future of an NFT protocol so as to give voting power to NFT token holders.
  53. GPU: The Graphics processing unit (GPU) of a computing system is used for the mining of cryptocurrencies like Bitcoin and Ethereum. 
  54. Gwei: It refers to a minuscule amount of Ethereum cryptocurrency; one Gwei is equivalent to 0.000000001 ETH.
  55. Hashrate: It is a standard measure and key security indicator of computational power employed on a blockchain network. The security of a blockchain is directly proportional to the degree of its hash rate.
  56. Hashmasks: Put together by international art scammer and popular NFT artist Wolfgang Beltracchi, the Hashmasks NFT consists of 16,384 Tiki-styled portraits made by more than 70 artists worldwide.
  57. ICO: ICO stands for the Initial Coin Offering. In crypto, the ICO is equivalent to the IPO (Initial Public Offering). ICO is a way to raise funds for the project. It is because ICO makes it possible for investors to purchase new cryptocurrency tokens.
  58. IDO: An initial DEX offering (IDO) refers to a crowdfunding platform for fundraising in the crypto space wherein users lock funds in exchange for new tokens in a decentralized and permissionless manner.
  59. IGO: Initial game offerings (IGO) offer individuals to pre-purchase blockchain game tokens or NFTs during an early stage so as to generate huge returns once it is launched.
  60. Inter Planetary File System:  IPFS is built on Blockchain technology. Deemed as superior to the HTTP gateway URL, the  InterPlanetary File System (IPFS) is used for storing data and enabling users to search for a piece of content hosted by someone on the network.
  61. KYC: It stands for Know Your Customer wherein the blockchain companies ask their users to complete forms and fill in their basic personal information.
  62. Layer 2: Layer 2 refers to a technological solution for addressing scalability issues and efficiency errors by improving transaction speed and managing off-chain transactions.
  63. Liquidity: In the NFT world, liquidity refers to the ability to quickly trade an NFT project for cash within that network using exchanges like OpenSea or third-party services like Rarebits.
  64. Liquidity pool: A crowdsourced pool of tokens or cryptocurrencies that are employed for faster trades between assets on a decentralized exchange (DEX) is called a liquidity pool. It is also locked in a smart contract by a secure network.
  65. Metadata: All the vital properties of an NFT, such as its name, description, and information regarding its artist/creator and owners, are collectively labeled as metadata.
  66. Metamask (MM): A cryptocurrency wallet allowing users to access decentralized applications (dapps) among other components of the Web3 ecosystem, MetaMask is one of the most popular crypto wallets that is fully compatible with NFTs.
  67. Metaverse: Metaverse is a graphical and hypothetical iteration of rich virtual space, with claims of reliability where people can work, play, shop, and socialize. All of this can be done without human effort. You won’t just be on the internet but, ‘in’ the internet.
  68. Migration: It is the procedure of shifting tokens from one blockchain (that has undergone certain changes) to another.
  69. Miner: A title given to individuals involved in mining NFT tokens with their computer’s GPU on a blockchain network.
  70. Mining: It is the process of creating digitally unique objects and tokens to an NFT asset for eventually uploading them onto the blockchain.
  71. Minting: The conversion of digital data into digital collections is called minting. As minting is recorded on the blockchain, the digital assets are stored in a decentralized database, preventing any form of edition, modification, or deletion.
  72. Minting interval: It refers to the frequency of minting NFT tokens.
  73. Mods: Considered to be the actual workhorses of the NFT world, the moderators (Mods) of social media channels (such as Discord and Twitter) guarantee a safe environment for assistance, genuine discussion, and the enabling of an NFT project.
  74. Moon: Mooning is used to describe an NFT asset currently undergoing a very strong upward market trend.
  75. Multisig: It is a multi-signature approach in which two or more different private keys are necessary for signing and spending NFT transactions. Thus, multisig clusters two or more users for signing documents as a secure group.
  76. NFT: An NFT (nonfungible token) is a digital asset of data on a blockchain network containing digital files such as songs, videos, photos, avatars, poems, etc. Each NFT is unique, non-interchangeable, and possesses its own identification code and metadata.  They also give the NFT owner tickets to live or digital events or some exclusive merchandise.
  77. Non-custodial wallet:  A non-custodial NFT wallet is one where its user has 100 percent control over its private keys and NFT ownership and allows access to funding transfers and NFT trading.
  78. Off-chain metadata: It is when the metadata is stored outside the blockchain network, and one might get stuck with smart contracts and broken links in such cases.
  79. On-chain metadata: It is when the metadata is completely written on the blockchain.
  80. Open editions: In an open edition NFT project,  there is no limit on the number of available NFTs enabling people to mint as many NFTs as they want until the mint is open.
  81. Oracle: Oracle offers a mechanism for the decentralized Web3 ecosystem for attaining access to advanced computations, legacy systems, and data sources.
  82. OS: It is the short form for OpenSea, the most popular online marketplace for creating, purchasing, and selling NFTs.
  83. Play to Earn (P2E): Games use play-to-earn technology by employing blockchain networks of cryptocurrencies and offering payments to the players from their gameplay.
  84. Paper hands: It is used for those people who sell their NFT assets soon without holding them for a long-term basis and are considered contrary to those with diamond hands.
  85. Peer To Peer (P2P): The sale and purchase of NFT assets between users online without central authority or intermediaries are known as a P2P exchange.
  86. PFP project: Designed to display as an individual’s social media profile picture (PFP), the PFP NFT is a digital artwork and part of the world’s most popular NFT collections. Famous examples include Doodles and Bored Apes.
  87. Polygon: Polygon is an Ethereum-compatible platform for NFTs offering faster, low gas fees, more secure, and cheaper minting costs for payment transactions.
  88. Presale: Presale NFTs are essentially a chance offered to investors for the low-price acquisition of NFT assets before their formal release in the NFT space.
  89. Private key: Just like a PIN, the NFT Private Key is used for securing the NFT wallet, signing transactions, and decrypting data. Also known as a secret key, the private key uses a cryptographic algorithm for secure encryption and decryption of data.
  90. Proof of Stake (PoS): Proof of Stake (POS) is a consensus mechanism employed by a cryptocurrency’s validators or its blockchain network wherein the PoS miner has a higher chance of getting rewarded with an additional block in case they possess more money. It relies on the amount of stake the individual possesses.
  91. Proof of Work (PoW): Proof-of-work is a consensus mechanism employed for adding new blocks of transactions to a cryptocurrency’s blockchain technology. Herein, the work involves generating a long string of characters (called a hash) that corresponds with the target hash for the existing block. 
  92. Public key: Commonly employed for facilitating the transactions between parties, a public key is essentially cryptographic, enabling users to get cryptocurrencies in their accounts. The ownership of any NFT project in the virtual marketplace is always linked to a particular wallet public key.
  93. Pump and dump: Pump and dump schemes are very popular in the cryptocurrency markets, especially when it comes to obscure digital currencies. This is because how it allows investors to profit off a group of traders trading a certain coin at a much higher price than its real value.
  94. QR code: A QR code is a quick response code used to access online information through a smartphone’s or tablet’s digital camera. These two-dimensional QR codes are the most convenient way to send NFTs through NFT wallets supporting QR code systems.
  95. Rarities: NFT rarity is defined by how uncommon an NFT project or asset is, depending on various characteristics surrounding it. These characteristics include the physical features of the NFT, such as its design, color, costume, etc., or other information like the creator’s reputation or the project’s profile.
  96. Reveal: The NFT art reveal is probably the most sought-after moment during the launch of an NFT collection. During the reveal, the investors and general public can see the artwork they have minted over time.
  97. Reward pool: In play-to-earn games, a fraction of the NFT tokens are put in a ‘reward pool’. After that, these NFT tokens are distributed to eligible players.
  98. Ring Signature: When a group of signers is blended to create a distinctive signature for authorizing an NFT-based transaction, it is termed a ring signature.
  99. Roadmap: A roadmap is basically the document that charts out the different aims, milestones, approaches, and strategies of an NFT project. These details are then communicated to the NFT creators and owners for communicating about the NFT project’s inherent value and utility in the virtual or the real world. This way, all the expectations concerning the NFT project are mutually aligned.
  100. Royalties: Royalties are referred to the money earned by the creator of an NFT because of the sale of their NFT tokens. More often than not, NFTs automatically pay the royalties to their creators each time a unit of the NFT is sold in the marketplace.
  101. Satoshi: The smallest unit of the popular cryptocurrency bitcoin, equivalent to the 100 millionths of one bitcoin.
  102. Secondary market: A secondary marketplace (like the very popular OpenSea) permits the NFT creators and collectors to get their NFTs listed and sold in the NFT marketplace once they are mined and minted. 
  103. Seed hash: Seed hash refers to a 32-byte random price value of an NFT project. Seed hash permits the users to restore private and public keys.
  104. Sharding: Sharding is a technique by which data is divided into shards and replicated on multiple instances. It speeds up transaction processing by distributing large volumes across a small number of servers. This helps in improving fault tolerance and availability because if one server fails, another server can still handle the load of the task easily.
  105. Shilling: Shilling is the practice wherein a specific NFT project is promoted, marketed, and advertised and basically involves over-optimism, thus considered an exit scam.
  106. Smart contract: Smart contracts are enabling the development of distributed applications and blockchain technology. These smart contracts are becoming more common, and there are already many applications that work on top of them, but it is important to know how they work and why they exist.
  107. Snapshot: During a virtual or real-world event, the hosting team would take a snapshot of the computer system to determine who is eligible for airdrops.
  108. Solidity: A high-level programming language like Java and Python primarily used for writing smart contracts is considered the most appropriate for Ethereum.
  109. Staking: It refers to depositing a particular NFT token and agreeing not to withdraw it for a mutually agreed time.
  110. Szn: Szn is an abbreviated form for the season, referring to the trade cycle of the NFT market. A szn could last for a few weeks depending upon the market sentiment.
  111. (Floor) sweeping: It means purchasing a  large number of NFTs at their lowest floor price.
  112. Tokenomics: A blend of “token” and “economics,” tokenomics includes everything from how it is issued and what is its supply source to what utility it possesses in the virtual or the real world.
  113. Tokens: A record on a blockchain network, a token provides its owner the right to a certain amount of digital currency for specific transactions.
  114. Utility-focused NFTs: Utility-focused Non-fungible Tokens (UTLs) are a subset of non-fungible tokens (NFTs). UTLs are created by applying specific utility functions to the NFT framework. The definition of a utility token is simple: it can be used to perform any type of action within a blockchain application.
  115. Utility token: It is a cryptocurrency offering access to a decentralized service or dapps.
  116. Vault: An NFT vault is an Ethereum address established to store NFTs safely on a long-term basis.
  117. Verified contract: Verified contracts are essentially the contracts enabling their users to study, read, and audit the code. These contracts are publicly available.
  118. Volatility: The volatility of an NFT project depicts the price fluctuation of its assets over a period of time.
  119. Wallet: An NFT wallet is a cryptocurrency wallet for storing and managing NFTs on a blockchain protocol.
  120. Web3: Web 3.0 or simply Web3, is the 3rd generation of the evolutionary development of network technologies. Web3 incorporates concepts including tokenomics, decentralization, and a wide network of blockchain technologies.
  121. Whale: An NFT whale is an individual with tons of money for investing (or who has already invested) in a highly valuable NFT project.  For example, a man holding 300 Bored Apes would be an NFT Whale.
  122. Whitelist: Whitelist is an exclusive list of individuals who receive assured early access for minting a new NFT collection at an assigned time and date.
  123. Whitepaper: NFT developers publish this document called whitepaper containing data such as diagrams, statistics, and formulae for explaining the aims behind and the technology used in their NFT project.

NFT Slangs

  1. AMA: It is an acronym for “Ask me anything”. Many NFT projects conduct AMA sessions wherein the NFT community engages in questions and answers to keep themselves updated.
  2. AFAIK: It is an acronym for As Far As I Know.
  3. ATH / ATL: It refers to All-Time High and All-Time Low in terms of the market price of an NFT asset or project.
  4. BTD / BTFD: It is common slang for saying Buy The (Fuck*ng) Dip, often used when the NFT project decreases in price and gives the NFT community a chance to buy at a much lower price.
  5. Ded: It is a silly misspelling for dead, like “He sold his CryptoPunk for 60 ETH. He is ded.”
  6. DYOR: An acronym for Do Your Own Research, DYOR is commonly used to advise people in the NFT space for doing their own strategical research.
  7. Flex: It is popular slang for showing off. In the NFT world, one may flex for possessing a CryptoPunk.
  8. FOMO: It is a popular acronym for Fear Of Missing Out. The instinct that triggers the degens into purchasing a dodgy NFT for the sheer fear of missing out that it might just be the next big thing in the NFT space.
  9. Fren: It is a silly misspelling for friends often used in the NFT community for addressing each other in an affectionate manner.
  10. Fudder: Fudder is someone who spreads FUD (fear, uncertainty, doubt) about competing on an upcoming NFT project amongst the NFT users.
  11. Fudding your own bags: When an NFT collector negatively comments about an NFT project they have invested in, the phrase ‘fudding your own bags’ is often used.
  12. GM / GN: Acronyms for Good morning and good night.
  13. GMI: GMI stands for Going to Make It, as opposed to NGMI. NFT holders often type GMI to express optimism and affirmation for their NFT collection.
  14. GTD: An acronym for Going To Dust, GTD is often used when an NFT token seems like a bad investment of funds.
  15. HODL: It is a silly misspelling of HOLD and an acronym for “Hold On for Dear Life” referring to the practice of holding on to one’s NFT tokens regardless of the moon or dust.
  16. ICYMI: ICYMI stands for In case you missed it. People in the NFT space use it when they wish to drive your attention towards certain news, rumor, or information regarding NFT projects or assets that you might have missed noticing.
  17. IDK: It is a common acronym for I Don’t Know.
  18. IRL: It is an acronym for In Real Life. As opposed to the virtual world of NFTs, Twitter, Discord, and gaming, IRL refers to the tangible, real and physical world.
  19. IYKYK: This acronym stands for If You Know, You Know This. Certain groups of the NFT space use it to share mutually known information regarding a project or an asset. IYKYK may trigger FOMO in some users.
  20. KOL: It is an acronym for Key Opinion Leaders who are commonly known as influencers in social media forums. KOLs comprise brand ambassadors, spokespersons, and thought leaders who are very influential and relevant given their wide spectrum of fans and audiences.
  21. LFG: It is an everyday slang and an acronym for Let’s F*cking Go! Sort of a battle cry, LFG is commonly used in the NFT community to convince people to buy a certain NFT.
  22. Looks rare: It is a common expression employed in the NFT space to denote that a certain NFT is rare in nature, and thus more valuable.
  23. Simp / Simping: It is slang for someone who attempts really hard to impress and woo a person of their liking. In the NFT world, it is often used for NFT creators who are trying really hard to garner the attention of NFT whales.
  24. Snag: It refers to the practice of quickly purchasing an NFT at a very low price.
  25. McDonald’s: Mcdonald’s is a common expression and refers to a valid backup plan in case the entire NFT market crashes and disappears.
  26. Meatspace: It is another slang for IRL – In Real Life; that is the real, physical world, contrary to a virtual environment.
  27. Moonboy: It is common slang for NFT holders who do not have a long-term vision and just aim at pumping the price exponentially. They focus on short-term gains and are known for “taking a token to the moon”.
  28. Never trust, always verify: It is a thumb rule in the NFT world to consider every NFT asset or project as if it is malicious. People are advised to research and verify before investing in NFT projects.
  29. NFA: It is an acronym for Not Financial Advice. This is used as a disclaimer warning in the NFT marketplace given the absence of regulatory licenses and central authorities.
  30. NGMI: It is an acronym for Not Going to Make It, contrary to GMI. It is often addressed to someone with a paper hands strategy.
  31. Noob / Pleb: Noob is someone new and inexperienced in the NFT space, and is more exposed to scams and getting rekt due to pump and dump schemes. Whereas, Pleb or Plebian refers to ordinary users or common folk, unlike the OGs.
  32. OG: OG is a slang term for original gangster; commonly used for the experts and veterans of the NFT world who have garnered a lot of respect and reputation by the community.
  33. Probably nothing: It is yet another ironic phrase often used by NFT enthusiasts. When someone says ‘probably nothing’ in regard to NFT projects or artists in the NFT space, in reality, it means that it actually is ‘probably something’.
  34. Pumping: It means when a group of people purchase or persuade others to purchase huge quantities of an NFT with the sole aim to peak its market price. 
  35. Rekt: It is a silly misspelling for wrecked to denote the moment when an NFT project declines sharply or when its floor price falls drastically. “I am rekt due to the fall of the floor price” is one common expression.
  36. Right Click Save As: It is an ironic expression used by individuals who do not know the price or value of NFTs and make fun of the fact that digital artwork can be simply stored by doing Right Click Save As.
  37. Snipe: It refers to when individuals land a great deal wherein they were able to quickly purchase an underestimated NFT asset before the floor price increases.
  38. WAGMI: Acronym for We Are Going to Make It. It is sort of a battle cry for fostering motivation, momentum, and enthusiasm toward an NFT project. This is majorly done to convince a large number of people into buying or supporting a certain NFT project.
  39. Wen: A silly misspelling for “When”, like in “wen moon?” which can be translated to “When would the value of this NFT asset increase dramatically?”
  40. YOLO: Acronym for You Only Live Once. This phrase is often used by people who have realized that they are going to get rekt because of the fact that they have mistakenly purchased a crap NFT.

We hope that after reaching the end of this article, you would be well-versed with the NFT terminology, and instead of feeling ‘FOMO’ in this advancing world, you would be able to ‘flex’ your knowledge. 

Happy minting!

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