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The Ultimate NFT Slangs Dictionary

Here you can find the essential Crypto/NFT terms you need to survive the space!

Moonboy

Someone that keeps believing in an NFT project or cryptocurrency despite its failure or drop in value. Typically, someone can become “Moonboy” if they keep

Never trust, always verify

A warning to assume that every other person or project on the internet is a scam. Otherwise known as the zero trust in cyber security,

Wen

A loose spelling of “when.” Crypto communities use it to inquire about the time of an event. Examples “Wen WL:” Asks when an NFT whitelist

YOLO

A short form of “You only live once.” This acronym isn’t limited to the NFT or crypto world only. Many people use it on social

WAGMI

It means “We are all going to make it.” Often used on Twitter and Discord to express optimism to the NFT community when a decision

Snipe

Used when someone buys a rare NFT at a price below its actual value. Essentially, it means a profitable deal on an NFT. Someone might

Right Click Save As

A scornful description of NFTs. People who don’t believe in NFTs often use this phrase to express how easy it is to acquire an NFT

Rekt

Another way of typing the word “wrecked.” It’s a slang often used by the crypto and gaming community to describe crypto, NFT trader, or an

Pumping

It describes a continuous rise in the price or an increase in the value of a digital asset or coin. Examples “Pumping after dump:” Describes

Probably nothing

An ironic way to say something is worth attention. For instance, someone might say, the floor price is rising, “probably nothing.” They’re telling the NFT

OG

A shortened NFT slang for “Original Gangster.” It describes early supporters or highly respected members of an NFT team. Most NFT communities assign this role

Noob / Pleb

An NFT or crypto beginner. Generally, someone not knowledgeable about a subject matter is called a Pleb or Noob. But the NFT community has adopted it to describe

NGMI

An acronym for “Not going to make it.” It’s the opposite form of “GMI.” The NFT and crypto community use this term to express hopelessness.

NFA

An acronym for “Not financial advice.” For instance, you might call an NFT community to action but warn them that it’s NFA. Examples A usage

Meatspace

A combination of meat (flesh) and space (habitat); describes the physical world. It’s the opposite word of cyberspace. Examples “The metaverse can never be like

McDonald’s

It’s used jokingly as an alternative career to a failed NFT investment. The NFT community uses it comically as the career option to fall on

Snag

To quickly buy an NFT due to a price drop. People often use it synonymously as sniping. For instance, someone might tell you to snag

Simp / Simping

A person that desperately seeks a woman’s attention with their cryptocurrency or NFT. Generally, it describes someone who expresses extreme passion towards another person without

Shtposter

Another way of typing “shitposter.” It describes someone who derives joy from posting off-topic content on social platforms like Twitter. They aim to steer reactions,

Looks rare

Expresses scarcity or uniqueness; to mark an NFT as highly valuable. Rarity is one of the essential features that determine the worth of an NFT.

LFG

Means ‘Let’s f***king go!’. It’s used in excitement about new project launches, huge NFT news and other massively positive updates.

KOL

A short form of “Key Opinion Leaders.” It defines an industry influencer. In NFT, a KOL is someone whose decision impacts an NFT project. You

IYKYK

Short for “If you know, you know”. It implies that a message, post or information that’d make sense to the insiders but not the general public.

IRL

An acronym for “in real life.” The contextual use may vary. But generally, the NFT community uses it when comparing a digital asset to its

IDK

A short way to say, “I don’t know.” It’s an honest way to express a lack of idea about a subject matter. And besides NFT,

ICYMI

A short form of “in case you missed it.” Although it’s a general internet acronym, when used in NFT, it points people to an important

HODL

An acronym for “Hold on to Dear Life.” It actually first appeared as a misspelling of “HOLD” in a 2013 post on bitcointalk.org. The NFT

GTD

A short form for “Going to dust.” It defines an NFT project that was probably once valuable but went down the drain and became a

GMI

An acronym for “Gonna make it.” In contrast to “WAGMI,” “GMI” typically applies to one person only. Individuals in NFT use it to express optimism

GM / GN

These abbreviations simply mean “Good Morning” and “Good Night,” respectively. They’re common ways NFT communities salute each other. And you’ve probably seen NFT folks use

Fudding your own bags

When someone spreads negativity about a project they invested in; might be due to fear of missing out (FOMO), a disappointing fall in value, or

Fudder

It refers to someone who expresses FUD about a project; they’re frightened, uncertain, and doubtful about an investment. Anyone can become a Fudder in crypto,

Fren

A misspelled slang for “Friend.” In the NFT community, people address their buddies as “fren.” Example Hey “fren,” WAGMI!

FOMO

An acronym for “fear of missing out.” It’s a fear of missing big rewards despite investing in a project or a cryptocurrency. A FOMO might

Flex

A general term for show-off; refers to bragging about a digital asset. For instance, you can flex your NFT by displaying it as a PFP.

DYOR

DYOR is the short form of “do your own research.” It’s often used as a disclaimer by someone who posts an update about an NFT

Ded

The NFT way of typing the word “dead.” It’s used when an NFT project goes down the drain from a pump and dump or rug

BTD / BTFD

Acronyms for “buy the dip” and “but the fxxxking dip,” respectively. These terms are used interchangeably in crypto to tell people to buy a cryptocurrency

ATH / ATL

Acronyms for “all-time high” and “all-time low,” respectively. An “all-time high” describes the highest market price an NFT project has ever attained in its entire

AFAIK

The short form of “as far as I know”, implying that the information available is what someone knows so far. AFAIK statements are usually amenable

AMA

A short form of “ask me anything.” An AMA is usually a session on Twitter Space, where an NFT project community members get to ask

Whitepaper

It’s a detailed documentation of an NFT project plan or roadmap. This document details everything about a project, including its aim, objectives, and future goals.

Whitelist

Often abbreviate as “WL”, a whitelist is a special list that gains early access to an NFT drop before the general public.

Whale

They’re an influential personality in a crypto network (characterized by having huge capital whose decision can make or mare a project). For instance, a project

Web3

Refers to the decentralized web version, where every transaction and data sits on several data nodes. Web 3.0 revolves around blockchain technology and runs decentralized

Wallet

Refers to a digital store or purse where you keep your tokens and digital assets. You need a wallet address to store your NFTs and

Volatility

It defines the rate of fluctuation (drop and rise in the worth) of an NFT project or crypto over time. Unlike fiat currencies, cryptocurrencies and

Verified contract

A smart contract that allows users to interact with and audit a contract code, allowing them to independently verify that it works according to what’s

Vault

A more secure digital storage for crypto assets. A vault is like a crypto wallet but has extra security features that let you delay a

Utility token

A token that gives owners access to a specific tool or privilege within a particular crypto ecosystem. NFT creators often use utility tokens to raise

Utility-focused NFTs

These are NFTs that offer real-life uses or tools to perform a task. An excellent example of a utility NFT is Moonly, which gives unique

Tokens

These are cryptogenic representations of digital assets in a blockchain. You can view a token as the denomination of a cryptocurrency. Hence, they’re not crypto

Tokenomics

A combination of “token” and “economics.” It defines the financial chain attribute of a digital token that makes it attractive to investors. These include statistical

(Floor) sweeping

Buying an NFT in bulk at its lowest price, probably below or at the FP rate. For instance, project owners can sweep the floor of

Szn

An abbreviation of “season.” The NFT community uses it to depict seasonal changes in the NFT world. Examples “Not many will projects will survive this

Staking

It’s a process where people use their tokens to contribute to rewarding block validation for a fixed period; it applies to Proof of stake (PoS)

Solidity

A free, object-oriented programming language for coding blockchain smart contracts. Solidity is relatively new compared to languages like Python and JavaScript.

Snapshot

It’s a record of the blockchain state (ledger) at a specific block height (a specific point in a blockchain). Developers use snapshots to capture receiving

Smart contract

A program on the blockchain that runs automatically only when transacting parties satisfy predefined conditions. Hence, unlike real-life contracts, you can’t alter smart contracts once

Shilling

It’s a marketing strategy usually adopted by influencers to promote an NFT project to push others to invest in it. Example “The project gained popularity

Sharding

It’s the process of splitting an overly expensive NFT into units so that more people can afford it. Sharding can also convert an NFT to

Seed hash

These are randomly generated sequence of values that encrypts transaction keys in cryptography. While the “hash” function handles encryption, the “seed” function helps generate unique

Secondary market

It refers to a direct transaction between investors in the crypto market. In NFT, the secondary market typically comes up after minting, phasing out communication

Satoshi

It’s the smallest unit of a Bitcoin. A Satoshi reflects the name Satoshi Nakamoto, the presumed name adopted by the false person or people that

Rugpull

It’s a cryptocurrency scam where all project owners pull out all resources, including investors’ funds— it usually happens after everyone interested in the project due

Royalties

The certain percentage earned from an NFT sale or resale. Royalties might also come as life-long passive income for artists or NFT owners if they

Roadmap

A detailed outline of how an NFT project will achieve its aim. It contains all the strategies, plans, and routes an NFT project will take

Ring Signature

It’s a digital signing or agreement made by any member of a particular group—on behalf of the entire group (ring). Ring signature, however, ensures that

Reward pool

Refers to token storage that rewards people for participating in token staking or sometimes crypto campaign, usually a P2E game. The reward pool typically contains

Reveal

Refers to the step in the mint process when a buyer sees what they’ve minted. Buyers typically don’t know what they’re purchasing while minting an

Rarities

It determines the level of uniqueness or scarcity of an NFT. Generally, the more scarce an NFT is, the higher its price. Hence, collectors always

QR code

Also known as “Quick Response code.” It’s a set of matrix squares (typically black and white) only readable by a machine that stores certain information

Pump and dump

Pulling out of a project after pushing its price to the peak through deceit. In a “pump and dump,” someone or a group of people

Public key

This is a cryptographical hash that produces public wallet addresses for transacting cryptocurrencies. Although it comes with your private key, you can share it with

Proof of Work (PoW)

It’s the short form of Proof of Work—An expensive validation process on the blockchain where miners verify new transactions by solving hash puzzles. This mechanism

Proof of Stake (PoS)

A short form of Proof of Stake. It’s a newer consensus relative to Proof of Work. And it helps validate transactions on the blockchain, keeping

Private key

It’s the secret key that lets you access the wallet containing your cryptocurrency. It’s unique to you and used to sign your transactions, validating that

Presale

It’s the process of selling NFTs to chosen investors (usually early supporters) before the official mint date. Presales typically sell at a price below the

Pre-mine

Generating a certain amount of cryptocurrency before its public release or launch. It’s a way to reward early supporters and founders of a crypto project.

Polygon

A scaled Ethereum blockchain technology layer that allows you to transact faster at a lower cost relative to the primary Ethereum blockchain. Its underlying cryptocurrency

PFP project

Shorthand for ‘profile picture’, so a ‘PFP project’ is essentially the same as a 10k project or an avatar project. This term is coined because the avatars in these NFT collections are often used as profile pictures on Twitter, Discord, etc.

Peer To Peer (P2P)

Peer to Peer, shortened to P2P, is a decentralized transaction between two traders (a pair) without a verifying third party. In this case, other users

Paper hands

Selling an NFT rapidly below its floor price—often due to FOMO, fear of the project being a pump and dump, or a rug. Paper hands

Play to Earn (P2E)

These are decentralized games powered by smart contracts that reward players with tokens and digital assets. P2E gamers often access the games via their NFTs

OS

An abbreviation of “OpenSea,” one of the largest NFT marketplaces. The NFT community often refers to OpenSea as OS on social platforms like Twitter and

Oracle

Oracles are third-party services connecting the blockchain to data outside of its ecosystem. The blockchain doesn’t interact with real-world data by default, but oracles make

Open editions

These are NFTs offering an unlimited number of mints within a specified time frame. As opposed to limited editions, collectors can mint as much as

On-chain metadata

Refers to token information about an NFT stored directly on the blockchain; instead of embedding it in the IPFS (InterPlanetary File System).

Off-chain metadata

As opposed to on-chain metadata, off-chain metadata refers to token information stored outside of the blockchain. Off-chain transactions are less-secure since they don’t exist on

Non-custodial wallet

It’s a crypto wallet that removes third-party token management to give you sole control of your private keys and funds. While non-custodial wallets are more

NFT

NFT stands for “non-fungible token.” An NFT is a non-replaceable token that tracks digital assets on the blockchain. Each NFT is uniquely tied to a

Multisig

A shorthand for “multi-signature.” It refers to a wallet address that requires multiple signatories (private keys) to transfer funds successfully. This further strengthens wallet security,

Moon

An NFT way of describing a rapid increase in the volume and price of a cryptocurrency or digital asset. The “moon” is the ultimate goal

Mods

A short way of writing “moderators.” Mods are individuals appointed by an NFT community to maintain healthy communication on Discord and other collaborative platforms. Depending

Mint interval

The time interval between each mint. The aim of adding a mint interval is to offload the real-time requests or transactions during mint.

Minting

The NFT creation process. In the background, it’s the process of attaching a unique (non-fungible) token to a digital file. Invariably, the attached token tracks

Mining

It’s the cryptocurrency generation process. And it involves adding verified blocks to the blockchain to maintain its integrity through a proof of work (PoW) process.

Miner

An individual who participates in crypto mining. Miners use high-performant GPUs, as the process requires high computing power as more miners join the mining process.

Migration

Migration is the process of moving from one blockchain to another. However, the migrating blockchain native tokens (including NFTs) also move with it during migration.

Metaverse

The metaverse refers to an immersive virtual world (accessible by wearing a headset) that simulates real-life events, where people can interact regardless of the distance

Metamask (MM)

Metamask is an Ethereum-based non-custodial wallet for storing cryptocurrencies. Metamask, also shortened as MM, is a widely adopted wallet due to its high level of

NFT Metadata

An NFT metadata contains vital information about that NFT. Most projects store NFT metadata in a distributed file system called the IPFS (InterPlanetary file system).

Liquidity pool

Crowd-sourced pool of cryptocurrencies or tokens locked in a smart contract to facilitate trades between the assets on a decentralized exchange (DEX).

Liquidity

Liquidity measures the ease of swapping from one token to another or converting a cryptocurrency to stable coins like USDT.

Layer 2

A secondary technology built on top of an existing blockchain. The purpose of layer 2 is to scale the blockchain with more solutions, improving its

KYC

KYC is an acronym for “know your customer,” often required as a registration phase in crypto trading apps like Binance. The purpose of KYC is

InterPlanetary File System

Often shortened as IFPS, the Interplanetary File System is a distributed storage system that holds NFT data in a peer-to-peer fashion. IFPS writes data to

IGO

IGO stands for “initial game offering.” It’s an early form of investment that allows the bidders to explore the early development stage of an NFT

IDO

IDO stands for “initial DEX offering.” DEX, in this case, is an acronym for “decentralized exchange.” Therefore, IDO is a form of an initial crowdfunding

ICO

A short form of “initial coin offering.” It’s an early fundraising process for a crypto project, where a project development team sells its tokens to

Hashmasks

Hashmasks are collaborative digital artworks created by 70 artists from around the world. Essentially, they’re hashed digital masks that exist on the blockchain—so they’re a

Hashrate

The hashrate measures the mining speed of your CPU per second, and the unit is hash/sec. Thus, miners put in resources to ensure their CPU

Gwei

Gwei is the one-billionth of one ETH (1 ETH is 1000,000,000 Gwei). It’s a denomination of ETH, also called a nanoether, due to its value

GPU

An acronym for “graphics processing unit.” A type of CPU (central processing unit) that speeds up digital rendering. In crypto, powerful GPUs are an essential

Governance tokens

These are specialized tokens created by developers to oversee the outcome of a decentralized protocol. It defines token ownership. People that hold governance tokens have

Generative art

Generative art is digital art that creates itself continuously through artificial intelligence. Generally, a programmed system automatically generates these artworks—of course, with an added effort

Gas war

Gas war results from conflicting transactions on the blockchain, where the volume of NFTs available are lesser than the number of wallet addresses minting the

Gas Fee

This is the amount paid in crypto for transacting on a particular blockchain. The gas fee is typically a fraction of the native coin of

GameFi

A blend of Game and Defi (decentralized finance). It’s a system where people get real-life financial returns for playing digital games. Generally, it defines the

Fungibility

As opposed to non-fungibility, fungibility means replaceability. It describes the ability of an item to be tradable or exchangeable for other commodities. For instance, cryptocurrencies

Fungible Tokens (FT)

These are tokens that are swappable for physical or digital items like NFTs. Fungible tokens, however, have buying power. Examples ETH, SOL, Bitcoin, and many

FUD

An acronym for “fear, uncertainty, and doubt.” It’s the slang used by the NFT community to describe the spread of false information to raise investors’

Fractional ownership

Partial ownership rights over an NFT. Sellers can sell percentages of a work and buyers can buy a portion based on what they can afford.

Floor

Often described as the floor price, it’s the lowest selling price of a digital product. The lower the floor of an NFT, the more valuable

Flip

An act of buying and selling a digital product quickly. This decision is often a result of anxiety about the future of a project or

Fiat

These are official currencies issued and controlled by the government. Unlike cryptocurrencies, fiats are stable and not volatile. Examples are the common official currencies like

Farm

A farm in crypto is a hip of staked tokens where investors take their rewards. These staked tokens are results of farming, a process of

Exchange

In crypto, “exchange,” also known as a “crypto exchange,” describes a platform where people can trade cryptocurrencies. Therefore, you can swap from one crypto to

Etherscan

Etherscan is a free platform where you can explore the Ethereum blockchain and verify Ethereum-based transactions and assess wallets, smart contracts, and blocks. For instance,

Ethereum

Ethereum is an open-source blockchain that runs on smart contracts, and its native currency is Ether or ETH. The Ethereum blockchain is the basis of

ETH

Another way of writing Ether, the native coin of the Ethereum blockchain.

ERC-721

ERC-721 is a set of standards that provides guides for creating non-fungible tokens (NFTs). This is in contrast to ERC-20, which is for creating fungible

ENS (.eth)

A short form of “Ethereum Name Service.” ENS is the blockchain naming standard for the Ethereum network. It helps shorten wallets and dApps names, transforming

Dutch auction

Refers to an auction that opens with the highest possible price (ceiling price); this drops at intervals and closes with the lowest price accepted by

Drop

This is the date and time an NFT collection is available for purchase. However, it also details a new NFT’s minting price. It’s, however, similar

Doxxed / Doxed

A revealed identity. Some NFT creators or authors prefer to remain unknown, so they tag them “undoxxed.” They become “doxxed” once people know who they

Discord

A community-based chatting platform where members of an NFT community interact and disseminate information. Discord’s structure features a server with many communication channels. The server

Diamond hands

Describes collectors who don’t let go of an asset even when the market looks bearish. Thus, such people tend to hold on to a digital

Devs

An abbreviation for developers. Devs are professionals who create products and services in the blockchain ecosystem using programming languages like Solidity, JavaScript, and Python, and

Derivative

Derivatives are secondary contracts that inherit their value from an existing or underlying one. Examples of derivatives include crypto Options, Swaps, Futures, Forward, and many

Delist

Cancelling the listing of an NFT for sale from an open market.

Degen

Short for “degenerate”, usually refers to people who often make risky bets. In the crypto space, it usually refers to people who invest in digital assets like NFTs by “ape-ing” in and without doing due diligence.

DeFi

A short form of “decentralized finance.” DeFi defines technology that gives users control over their financial transactions. However, many DeFi systems operate on the blockchain

DEX

DEX is an acronym for “decentralized exchange.” It describes an autonomous peer-to-peer (P2P) platform where people can exchange tokens without depending on any mediator for

Decentralized apps (dApps)

Apps or programs that execute tasks within the decentralized or blockchain ecosystem. Generally, dApps run on smart contracts and are autonomous. Examples OpenSea, Magic Eden,

Crypto Twitter (CT)

Refers to a specific group of people on Twitter that tweet topics revolving around the blockchain and crypto. They include devs, crypto traders, investors, spectators,

Cryptocurrency

This is an ungoverned cryptographic digital currency that exists on a decentralized ledger. You can use cryptocurrencies to purchase digital and physical items. However, transactions

Crypto

This is a short form of cryptocurrency. It’s an ungoverned digital currency backed by a particular blockchain.

Collectible

These are valuable digital items that are available for collection. Generally, they’re NFTs and range from artworks, music, video, cloth, sport collectibles to many more.

Burn / Burning

It’s a method of destroying and removing an NFT from the blockchain. An NFT creator may decide to burn an NFT if it’s Paperhands, for

Bullish

The term “bullish” is an NFT slang for expressing confidence in a project. It’s the opposite of “bearish.” Examples “I’m bullish on Bored Ape Yacht

BTC

A short way of writing “Bitcoin.” Launched in 2009, Bitcoin tops the cryptocurrency blue chips. And it has gained immense value over time. It uses

BSC

An acronym for “Binance Smart Chain.” BSC is a protocol that makes the Binance Chain interoperable and programmable. Hence, other resources can communicate with it.

Bridge

A bridge is a protocol that provides a link that allows people to exchange tokens between blockchains. Blockchains don’t support each other by default. However,

Bot

A bot is an automated program bearing instructions to execute a specific task. Discord bots are good examples of how the NFT community uses bots

Blue chip

Blue chips are well-known projects. NFTs and cryptocurrencies can be blue chips, depending on their adoption, value, and stability. Therefore, as with NFTs, blue chips

Blockchain

The blockchain is a chain of servers containing several nodes that record cryptocurrency transaction ledgers in a decentralized format. The blockchain is difficult to hack

Bearish

When you believe that a market or asset is heading towards a downward trajectory. For example, “I’m feeling pretty bearish about the P2E gaming space right now.”

Avatar project

Avatar NFTs are a collection of artworks that represent a particular animate or inanimate object. Avatar NFTs are some of the most common NFTs today,

Asset

Another way to refer to a digital collectible or token.

Ape-ing (into something)

When you ‘ape into’ something, it means that you’re buying something in an irresponsible manner and typically out of “FOMO”, and/or without doing your due diligence.

Alpha

Having access to important insider information. For example, one may say “I work at Opensea, so I have Alpha on the new artists that we’re partnering with next month”

Airdrop

New NFTs or cryptocurrencies that are automatically sent to your wallet for free. This is a common practice in the crypto space to attract and reward early project adopters.

10k project

An NFT collection of approximately 10,000 avatars, which was arguably pioneered by the famous CryptoPunks collection. This term is also commonly used to refer to similar avatar projects instead of the actual number of NFTs in the collection.

1:1 Art

A unique NFT art piece that only exists in one edition.

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