It’s always easier to understand an industry when you’re familiar with the jargon/terms being used on a daily basis. To help you navigate the space, here’s our list of terms to become familiar with!
GM - Good Morning
GN - Good Night
GA - Good Afternoon
PFP - Profile Picture, Picture for Proof
NFT - Non-Fungible Token
DYOR - Do Your Own Research
NFA - Not Financial Advice
2FA - 2 Factor Authentication
FUD - Fear, Uncertainty, Doubt
HODL - Hold On for Dear Life
GMI - Gonna Make It
WGMI - We Gonna Make It
WAGMI - We Are Gonna Make It
NGMI - Not Gonna Make It
Moon/Mooning - Indicates the price of something is going to skyrocket and go way up
Delist - The action of taking down a listing of an NFT for sale
Diamond Hands - Someone who holds and believes in a project long-term
Paper Hands - Someone who sells right after the mint or shortly thereafter
Whale - Individuals with high net worths and many high value NFT’s in their wallets
Secondary Market - After an NFT is minted, it can be bought or sold on secondary platforms such as OpenSea, LooksRare, or X2Y2.
Shilling - Promoting/Advertising
DD - Due Diligence
FOMO - Fear of Missing Out
COPE - Coping with Missing Out
Fren - Friend
Mint - The birth of an NFT on a particular blockchain, making it purchasable by the end user
Pre-Reveal: The short period of time after the mint where the metadata of NFT’s in a collection hasn’t been revealed yet
Reveal: Your NFT’s metadata is revealed and you find out what you got for your NFT
Metadata: Specific data that describes your NFT’s essential properties
Doxxed - Revealing the personal details of an individual, doxxing without consent is considered unethical
Undoxxed - Anonymous, individual uses a pseudonym
CT - Crypto Twitter
DeFi - Decentralized Finance
TradFi - Traditional Finance
Crypto - Cryptocurrency
Gas - Blockchain Network Transaction Fees
Gas Wars - When many people are trying to secure space in an upcoming block and as a result gas prices balloon. Can be mitigated with gas-friendly contracts like ERC721A
Gwei - What gas prices are denoted in; each gwei is equal to 0.000000001 ETH
Burn - When an NFT is burned, the NFT is removed from circulation and sent to a wallet owned by nobody, essentially destroying the token
Airdrop - Involves sending free tokens or coins to wallet addresses in order to raise awareness about a new virtual coin or token
P2E - Play To Earn
P2P - Peer to Peer
LP - Liquidity Pool
FAQ - Frequently Asked Questions
AMA - Ask Me Anything
Dev - Developer
WL/AL/ML - Whitelist/Allowlist/Mintlist
IRL/RL - In Real Life/Real Life
Probably Nothing - Definitely Something
IYKYK - If you know, you know
Rug/Rugpull - Founders abandon project/take capital
Ape In - Blindly invest into a project based on hype
Degen - Short for degenerate; Individuals who always “ape in”
KYC - Know Your Customer, a process where you must doxx yourself to gain approval
Alpha - Newly leaked or released information
SBT - Soulbound Token