The Ultimate NFT Slang Dictionary
GM! Here you can find the essential Crypto/NFT terms you need to survive the space!
- 1/1 of x
What PFP and generative art is. One unique NFT of a collection of X NFTs. For example, BAYC is a collection of 10,000 unique NFTs.
- 1:1 Art
One single unique piece of NFT from an artist that is not part of a collection. It is way more scarce and unique, hence the value is often higher than those in collections.
Sending free coins, tokens, or NFTs to numerous wallet addresses. Some projects may airdrop NFT complementaries to reward the original NFT collection holders. For example, in August 2021, BAYC holders were airdropped a “mutant serum”, which allowed them to mint a new Mutant Ape that still carries their unique NFT features.
Abbreviation for “ask me anything” or a Q&A session where the community can ask anything to the project’s team members. Many NFT projects have live AMA sessions to maintain engagement with their NFT holders.
- Ape in
Refers to people who rush into buying a new NFT or coin without doing much research, which is definitely risky!
Refers to artificial intelligence that performs few useful tasks automatically. Some examples are: to welcome new members and ban any spam-related messages, to moderate discussion, add music or games to your (Discord) server.
Decentralized Autonomous Organization. DAOs are not controlled by a single person or entity like a government or central bank, but instead are coded in smart contracts on the blockchain. The DAO developers believed this would limit human error or manipulation of funds. With DAO, investors can send money from anywhere in the world anonymously and receive tokens, which gives them voting rights on possible projects.
Decentralized Finance. Unlike traditional finance or CeFi (centralized finance), where a bank or company has control over your money, in DeFi, no one but you has access to it.
Short for “degenerate”, which refers to people who often make risky baseless decisions. Similar to “Ape in”, both refer to those who invest in digital assets without prior research.
Decentralized Exchange, a peer-to-peer marketplace where transactions occur directly between crypto traders without a middleman. Some popular DEX are Uniswap, PancakeSwap, dYdX.
- Diamond hands
Refers to someone who has high-risk tolerance for high volatility assets. Diamond Hands don’t make panic decisions despite market volatility.
One of the most popular socmed platforms for NFTs and gaming. Most NFT projects have Discord channels to keep the community engaged and informed.
“Do your own research”. It is always a smart move to DYOR before investing!
Refers to buying items at low prices and selling quickly for a profit. Often happens during the early stages of projects when there are higher demands.
Short for “fear, uncertainty and doubt”. FUD is commonly used when the price of a coin/NFT project drops.
The transaction fee we need to pay to the blockchain network. High gas fees occur when there is a lot of demand on the network, like during the start of minting of a new NFT project.
Short for “Good Morning”. A common way of greeting in Twitter/ Discord space.
- GMI / WAGMI
Short for “gonna make it / we gonna make it”. To describe a future state of success when our investments skyrocket and give high returns.
“Hold on for dear life” means to hold an asset for a long period, regardless of its price.
“If you know, you know”.
Short for “key opinion leader”, a synonym for social media influencer.
“Let’s F**** Go”. Used when people express their excitement about something.
- Looks rare
Rarity is important in NFT collections. However, when people say “it looks rare”, it’s being used ironically, he/she actually means “it doesn’t look rare”.
Metaverse is a virtual reality space where users can build customs, habits, and values that allow them to spend time and socialize with others using their digital identities (avatars). It leverages the Web 3.0, blockchain, and computer interfaces and co-exists with the real world.
Mint means “produce for the first time”. In the NFT world, minting means the creation of a new unique NFT on the blockchain.
Short for “moderators”, often for Twitter or Discord channels where they try to keep the community engagement healthy, active, and informative.
“To the moon!” is when the price of a coin/NFT goes up/ skyrockets.
If something is “mooning,” it means the price of a coin/NFT is experiencing a spike.
Opposite of GMI, short for “not gonna make it”. Refers to people making bad trading decisions.
Slang for “original”. It refers to someone or something that is an original or originator.
- Paper hands
Opposite of diamond hands, it refers to someone who panic sell or flip position too soon.
Short for “profile picture”. Lots of people in the NFT space show off their NFTs by using them as PFP on different socmed platforms.
Play to earn games. Blockchain-based games that use tokens to reward players.
- Probably nothing
Used ironically, it actually means “probably something important”.
Doing a flash campaign on Twitter or other social media platforms. Used as a way to keep the community engaged in order to promote their project.
A slang term for “wrecked”. It’s often used in the online gaming community to refer to someone who has been totally ruined or experienced severe financial loss from bad investment decisions.
- Rug or rug pull
A rug pull is when the team behind a crypto/NFT project abandons the project and runs away with investors’ funds.
- Secondary market
After an NFT is minted, it can be transacted on the secondary market, such as OpenSea.
When someone promotes an NFT project on social media as a marketing strategy.
SOL is the cryptocurrency used on the Solana blockchain. Compared to Ethereum blockchain, Solana can process transactions much faster with much lower gas fees.
- Stable coin
Refers to a cryptocurrency that is pegged to a fiat currency. A stable coin tracks the underlying asset (e.g. USD), making its value stable over time.
- Wen Lambo
A phrase referring to people wondering when their crypto/NFT holdings will take off.
Someone with a multi-million dollar portfolio or someone who owns a huge amount of NFTs in an NFT collection.
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