NFT Terminology
NFT social media is different. It’s chock full of industry lingo and terminology. I haven’t used Twitter so much in my life, but now it’s my go-to. Heard of Discord? If not, download it now!
Need the Lingo?
This list will help you navigate through the important conversations that will help you do your own NFT research. In this space the time you put into research will really pay off in the long run. Because this is emerging technology you have to protect yourself from possible scams.
Common Crypto Acronyms & Terms
Acronyms
| Acronym | Description |
|---|---|
| NFT | Non-Fungible Token |
| GN | Good Night |
| GM | Good Morning |
| DYOR | Do your own Research |
| FOMO | Fear of Missing Out |
| WEB3 | Third Iteration of Interweb |
| WEB5 | An extra decentralized web platform from creator Jack Dorsey based on Bitcoin |
| WEB69 | Dogecoin created decentralized financial payment network that rebuilds the traditional payment stack on the blockchain |
| DEFI | Decentralized Finance |
| DAO | Decentralized Autonomous Organization |
| HODL | Hold |
| WAGMI | We All Gonna Make It |
| GMI | Gonna Make It |
| NGMI | Not Gonna Make It |
| FREN | Friend |
| WEN | When |
| WYM | What you Mean |
| BAYC | Bored Ape Yacht Club |
| FUD | Fear, Uncertainty & Doubt |
| APE | Buying into Something |
| DEGEN | Degenerate |
| PFP | Profile Picture |
| TLDR | Too Long Didn't' Read |
| P2E | Play to Earn |
| POS | Proof of Stake |
| POW | Proof of Work |
| DCA | Dollar Cost Averaging |
| DEX | Decentralized Exchanges |
| Uniswap | A DeFi financial marketplace |
| SushiSwap | Decentralized, community driven platform |
Terms
| Term | Definition |
|---|---|
| BULLISH | Positive Marketing Sentiment |
| BEARISH | Negative Marketing Sentiment |
| MOON | Price Going up Fast |
| SHILL | Advertising Projects, Communities or Coins |
| ALPHA | Useful Investment Advice |
| GAS | Fees Associated with Ethereum |
| MINT | Process of Validating Information |
| MOONBOY | Social Media Crypto Influencer |
| ARMY | An unique attribute group of followers in a community |
| VAPORWARE | Lots of Marketing but No Product |
| BLUE CHIP | Established, Stable, and Well-Recognized Corporation |
| WHITELIST | Accepting People to Invest Early |
| ALLOWLIST | Allowing People to Invest |
| RUG PULL | Crypto developers Abandon a Project and Take Investors' Funds |
| DOX | Publish Identifying Information |
| WHALE | A Person who Holds a Significant Amount of Cryptocurrency |
| MINING | The proof of work creating a coin or transaction |
| Diamond Hands | Investor that holds as an Investment |
| Paper Hands | Quick seller that Buys and Flips |
Common Cryptocurrencies
| Acronym | Description |
|---|---|
| ETH | Ethereum |
| BTC | Bitcoin |
| SOL | Solana |
| ADA | Cardano |
| DOT | Polkadot |
| DOGE | Dogecoin |
| UDST | Tether |
| Polygon | A decentralized Ethereum scaling platform |
| SAND | The native Cryptocurrency of The Sandbox |
Why It Matters
In a crypto down market, it creates opportunities to learn, enhance DYOR skills. No matter the market sentiment cryptocurrencies and NFTs offer these opportunities whether it’s a bear or bull market. In a Bull Run investors assume gains and in a Bear Market there's smart moves to make like buying the dip- taking advantage of low gas fees and learning new skills like mining or registering for an Ethereum Name Service (ENS) domain.
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