NFTslangs.com

NFTslangs.com

Twitter

Utility token

What does Utility token means?

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 funds for their projects and also add value to them along the line.

Examples

Some popular utility tokens include:

  1. BNB: Binance’s discount token.
  2. DeGods’ $DUST: DeGods’ NFT utility token for buying NFTs created by DeGods.

Random Slangs

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

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

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

ETH

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

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

Menu Close