NFT Terminology
For newcomers to the NFT community, there is a lot of different NFT term meanings to learn. From everyone saying ‘gm’ and ‘gn’ (good morning and goodnight), joking about McDonald’s, and chanting ‘WAGMI’ there is a lot to keep up with.
When you enter the NFT space via Twitter or Discord, you’ll quickly realise there is a new language spoken in these communities, one that abbreviates everything! This handy guide below should get you up to speed with some of the more common phrases and abbreviations that you’ll no doubt come across on your NFT journey.
- GM
- Good Morning
- GN
- Good Night
- DAO
- Decentralized Autonomous Organization
- Fren
- Friend
- HODL
- Misspelling of the word HOLD
- Drop
- Term we use for the release of new digital collectibles
- WAGMI
- We are going to make it
- DeFi
- Decentralised Finance
- NFA
- Not Financial Advice
- Aped
- Jump into a project, all in
- DYOR
- Do Your Own Research
- Wen Moon
- Refers to the price of your NFT ascending to the moon
- PFP
- Profile Picture
- FOMO
- The Fear of Missing Out
- Generative Art
- Art that is algorithmically generated, ideally in real-time when minted
- IRL
- In Real Life
- Mint
- The act of initially issuing a piece of art on the blockchain, either by the artist or the collector
- 1/1
- A unique 1 of 1 piece of NFT art
- Floor Price
- The lowest available asking price on a market website for an NFT
- OG
- Original gangster
- Roadmap
- The set of activities an NFT project (usually PFP) will plan to do to add value to a community
- Gas Wars
- The state of chaos that ensues when all of NFT twitter tries to mint the same project at once, driving up gas prices for the whole Ethereum network
- Rug
- Rug is short for rug pulled
- IYKYK
- If You Know, You Know
- Buying on secondary
- When you fail to mint a project and have to buy on OpenSea