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Off-chain metadata

What does Off-chain metadata means?

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 a digital ledger. Hence, off-chain metadata requires less consensus to alter its information.

Random Slangs

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.

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.

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,

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

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

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