NFT or Non Fungible Tokens has been a trend in the crypto space and everybody wants to make money either minting an NFT or buying and selling it. It is good your acquiant yourself with prior knowledge of how the system works and also NFT terms used in order for you to be a better NFT investor or a tutor if you so desire.
In this article, I have put together 33 NFT terms I feel every investor should know but trust me the list is endless and this is all based on my knowledge and research; you can definitely add yours as the list is endless.
The 33 NFT Terms Includes:
WAGMI: abbreviation for “We Are Gonna Make It”.
NGMI: abbreviation for ” Not Gonna Make It”.
WL: abbreviation for “White List”. When an early investor gets White listed, he/she has access to mint NFT at lower price before the project goes public. Getting WL comes with performing tasks.
GM/GN: abbreviation for “Good Morning/Good Night”.
DM/PM/DC: abbreviation for ” Direct Message, Private Message, Discord”.
AMA: abbreviation for “Ask Me Anything”. Project developers gets to open a session for public discussions in order to enlighten the public about the projects roadmap and attend to every possible question about the project.
PFP: abbreviation for “Profile Picture”.
IRL: abbreviation for “In Real Life”.
LG: abbreviation for “Let’s Go”.
IYKYK: abbreviation for “If You Know, You Know”.
DW: abbreviation for “Don’t Worry”.
GZ: abbreviation for “Congratulations”.
OG: abbreviation for ” Original Guy”. It also has to do with people that support a project from its very beginning.
SZN: abbreviation for “Season”.
GMI: abbreviation for “Gonna Make It”.
TBH: abbreviation for “To Be Honest”.
TBA: abbreviation for “To Be Announced”.
YOLO: abbreviation for “You Only Live Once”.
NFA: abbreviation for “Not Financial Advice”. Even whales when talking about the prospect of a project will still put “NFA” at the beginning or end of their statement. This happens so as not to hold anyone responsible for any loss you might incur as cryptocurrency generally is volatile.
IDK: abbreviation for “I don’t KnownAirdrop”. This is used when you received an new NFT into your wallet.
DEV: refers to developers of a project.
Flip: has to do with buying NFTs at low prices and selling them quickly for profits at higher prices.
List: has to do with putting an NFT for sale.
Delist: has to do with canceling a listed NFT put on sale.
Ape In: has to do with rushing to buy an NFt that has potential to moon.
Road Map: the goals or targets of a project developer for a project.
Diamond hands: long holders of an NFT.
Floor Price: the lowest price at which you can buy an NFT or list an NFT for sale.
Blue Chip: this has to do with a project that will have or gain value in the future.
P2E: has to do with “Play To Earn” games. Axis Infinity, Splinterlands, e.t.c. are all examples.
Mint: buying a completely new NFT from the creator.
Paper hands: people who panic sell their NFT probably because of listing below floor price as this will lead to an NFT loosing its value. The value of an NFT depends on its community.
These are the 33 NFT terms every NFT trader or investor should know.
Note Before: I have decided to omit some terms that are applicable to crypto generally from this article. This does not mean that these terms are not applicable here but a knowledge of them can be readily applied here. You can check out my article on https://loadtyrbe.com/2022/03/12/crypto-terms-you-should-know/ for better understanding.
You can also read on Nairaland.