IRL

What does IRL means?

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 real-life version or use case. For instance, it can also be an exhibition of virtual and physical art versions. Or it can be the value you stand to derive in real life when you invest in an NFT.

Examples

I received my NFT IRL today!
Here’s another example extracted from a tweet by @ChiefToadNFT:
“A New Generation of #NFT Product. An IRL NFT smart frame & a seedpass! Show your NFTs in the Real World!”

Random Slangs

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

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.

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

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.

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