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NFT Terminology

By Veda K. Ford, NFT enthusiast.

Create Date: 2022/06/11

5 minute read.

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

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
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
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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