Toons was founded to create a place where you can easily understand everything that’s happening in Web3 on the surface level. The Web3/NFT space moves at an incredibly rapid pace, and it’s very tough to keep up to date. Even if you do keep up to date, it’s often tough to comprehend everything that’s going on at once. While there are a few projects doing a great job educating and reporting on Web3, we still felt there wasn’t a place where terminology is really boiled down and made easy to understand for someone entirely new to crypto.

All of our team members met within the very-well respected Metav3rse community and have learned a lot through their brand. After talking for a while, we realized we all know friends in real life who are intrigued by NFT’s, but have no clue where to begin their Web3 journey. The world of Web3 is certainly not small and is only expanding daily, so we could understand how it can be intimidating for newcomers to the space.

Toons Tribune (This Mirror blog you’re reading right now) is the first step for Toons as a project, publishing educational guides and our experiences of being in different communities in Web3. It’s written and designed for beginners to become familiar with the various terms and concepts used in the space, and hopefully Web3 veterans can learn a new thing or two as well.

Our focus will purely be on education and news relating to Web3/NFTs for the next few months - no advertising/shilling of any brand, not even our own - as we believe forming a tight-knit community who share a common interest is the number one priority. Before discussing any projects, we want to get to know our audience and also give our audience time to become familiar with who we are and what we’re hoping to accomplish over time. You’ll see regular Mirror posts from us, each focusing on a new Web3 topic, and we’ll be hosting regular Twitter Spaces where we’re excited to hear from our audience.

Nobody can predict the future, but we believe Web3 technologies will be incredibly disruptive and powerful across several industries over the next decade and we’re hoping to play a small role in shaping a better new future for all of us.

Terms to Know in Web3/NFTs

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; a token consisting of digital data stored on a particular blockchain

DYOR - Do Your Own Research, especially when buying, selling, and trading NFTs/dealing with any type of funds

NFA - Not Financial Advice

2FA - 2 Factor Authentication

FUD - Fear, Uncertainty, Doubt; when a project receives an influx of negative news and feedback from the community

HODL - Hold On for Dear Life; holding an asset instead of selling it

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 or asset 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 Coinbase NFT.

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 the properties of your NFT

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

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

Post completed by: OchoFren, CASCAD3