Nft Slang Definition

Before you start Googling what an NFT or NFT urban dictionary means, what the tikTok urban dictionary means (I know some of you are, as it showed the reach of SEO), check out this comprehensive guide to NFT and crypto slang to help you stay on top of NFT jargon. It is updated regularly as new terms emerge as the slang acronym NFT is constantly evolving! I`m sure you`ve heard this buzzword everywhere these days. There are many different definitions of Metaverse here, and here`s mine: Metaverse is a social construct that uses Web 3.0, blockchain, and computer interfaces, where individuals build customs, habits, and values that allow them to spend time and socialize in the virtual world with their digital identities (avatars). It coexists with the real world. Want to know more? Here`s a Masterverse master class I created on Udemy. And also check the next steps of the Metaverse. NFT meanings and NFT slang are something you need to understand in order to navigate this exciting new digital phenomenon. In this guide, I`ll explain what the most commonly used NFT slang means and look at the important NFT terms and meanings you need to get used to. It`s not difficult and, frankly, it`s fun to dive deep into a lively and interesting movement.

Learn the NFT meanings behind NFT slang and NFT terms to move forward. Noob is a colloquial term for beginner/beginner or someone who is inexperienced in an activity or profession. We should always be friendly with noobs and offer help when needed! Rekt, also known as #rekt, is a colloquial term for “destroyed.” It is often used in the online gaming community and refers to someone who has been completely ruined or destroyed. In the crypto community, the law refers to someone who has suffered severe financial losses due to poor investment decisions. Fungibility is one of the most misunderstood topics in the NFT space, so I`ve written an article specifically about it here. The underlying technology of NFTs is much more important than JPEGs. The infrastructure is built around technology that allows it to be used in much more common applications. Unfortunately, the urban dictionary definition of NFT has correctly about the energy consumption of NFTs. While staking isn`t NFT slang, it`s a good term to know. Staking involves “locking” an NFT or coins for a period of time to earn interest on your assets. The amount of interest paid depends on the project. The currency in which you are paid is usually tokens created by the NFT project.

Staking is used by projects to reward owners who freeze their assets, eliminating selling pressure because the asset is held during the staking period. The length of time an asset should be locked in staking varies by project. Diamond hands refer to someone who has a high risk tolerance for high-volatility assets. It comes from the Reddit forum site on the /r/WallStreetBets subreddit, where the term has been used since 2018. Diamond Hands does not sell its assets in panic, no matter how the value of the assets decreases or increases. There is also a negative definition of “diamond hands” that refers to a persistent investor who, despite falling in value, is unwilling to give up an asset. It is a slang used to describe men who completely lack all the necessary masculine qualities. In the crypto space, this is someone who is mentally weak and cannot handle market volatility. It`s not slang, but it`s an important term you need to familiarize yourself with. Discord groups are where owners of an NFT project gather in a room, chat with each other, earn roles associated with the NFT tokens they hold, follow sales bots that post messages about each sale, and more. Well, there`s a subtle difference between NFT slang and NFT terms, one refers to causal language used online and the other covers actual technology and process terminology. Read on to find out if you are a diamond collector or a proud sword.

Acronyms are also widely used, and here you will find all acronyms, slang and terminology. Oh, by the way, if there`s one thing I`m really passionate about, it`s teaching. I launched the first NFT Investing Masterclass and if you are interested in this topic, I invite you to take a look. I`ve been dealing with NFTs for a year and the most fascinating space is NFT slang and crypto slang. If you want to quickly update yourself to connect with other NFT enthusiasts in Discord groups and on Twitter, this guide is for you. It doesn`t matter if you are a beginner or a professional. This section works very quickly and you need to be up to date on the language used by the community. The crypto and NFT communities have their own language, and this glossary will help you with all that crypto slang. ALL RIGHT! My dear Degens, WELCOME to the complete dictionary of crypto and NFT slang! Let`s move on to this 1:1 article that will help you in your future DODOR. No FOMO and no FUD. Let`s go YOLO because I`m sure WAGMI! Feel free to rotate this crypto/NFT slang like a novel or just press “CTRL+F” to search for what you`re looking for.

FOMO is short for “fear of missing out”, it is meant to describe people (especially newcomers to the room) who rush into buying an asset simply because they see that many other people are doing it/talking about it without taking too much care of it. However, as experienced investors, we should always avoid FOMO and keep a cool head before investing in anything. Example: “The minimum price of Curio cards went from 0.5 ETH to 2 ETH in 3 days!” It`s always a smart decision for DYOR before investing! Example: “I just received another DM Discord with a link. I`m 100% sure it`s a scam. I`ll turn off my DMs unless I`ve already added them as a friend. This means cancelling the listing of an NFt for sale on an open market. “Let`s go f****.” Used when people express their enthusiasm about something. No, it is not an arithmetic problem. 1/1 of x refers to a single NFT in a collection of X NFTs.

For example, CryptoPunks are a collection of 10,000 NFTs, each of which is unique. GM stands for Good Morning. GM was first included in the Urban Dictionary in 2003, defining it as “used online for hello”. NFT Twitter has revived its use, as you will see a lot of people tweeting “GM” as a signal that they are online and in the NFT space. A carpet draw is when the team behind a crypto/NFT project abandons the project and flees with investors` funds. They scour every corner of the internet to find NFT projects that have been created but not yet discovered. Adam McBride is an NFT archaeologist who has been discovering some very cool projects lately, I suggest you follow him to find out more. — cloudwhite☁️ (@cloudwhiteNFT) March 3, 2021 1/1 is short for One-of-One. Many digital artists release unique NFTs with a reserve of one. These projects may or may not be part of a collection. Often they do not mimic the structure of 10,000 profile picture projects where the visual appearance of NFTs has the same pattern with unique features per NFT.

Example: “Someone got into a discord I`m in and started spreading FUD.” Paperhands is a term used to describe people who panic and quickly sell their NFT assets. A non-fungible token cannot be exchanged for another similar asset because it is unique in design and has a singular identification token on the Ethereum blockchain. “The ground is lava” originally comes from a game that children play so as not to touch the ground at all costs.