NFT Glossary

A method of distributing new tokens, often NFTs or cryptocurrencies, for free or as a reward to existing wallet holders.

Insider information or expert tips about NFT projects or the market.

Quickly buying into an NFT or cryptocurrency without much research, often driven by hype.

Borrowed from stock market lingo. "Bearish" means expecting the market to go down.

Offering a specific amount of money for an NFT in an auction. Bidding is common in NFT marketplaces.

A digital ledger where transactions are recorded in a secure and transparent way. It's the technology behind NFTs and cryptocurrencies.

High-value NFTs from well-known and reputable collections or artists. These are often seen as safer investments.

NFT bots are automated software programs designed to perform various tasks in the NFT ecosystem, often used for buying, selling, or tracking NFTs.

Borrowed from stock market lingo. "Bullish" means expecting the market to go up.

Permanently removing an NFT from circulation, often used to reduce the supply and potentially increase the rarity of remaining items.

A secure method of storing NFTs and cryptocurrencies offline. This is like a digital safe that is not connected to the internet, providing extra security against hacks.

Using NFTs as collateral to secure a loan, similar to how one might use a house to secure a mortgage.

The NFT community refers to a group of individuals who share a common interest in Non-Fungible Tokens (NFTs), often participating in NFT-related activities and discussions.

The ability to use or move NFTs across different blockchain platforms, enhancing their flexibility and reach.

Artwork that is created, bought, and sold as an NFT, often involving digital formats.

A type of digital or virtual money, like Bitcoin or Ethereum. It's often used to buy NFTs.

A group organized around a set of rules encoded as smart contracts, often for managing a collective NFT project or investment.

The principle that the control and operation of a service, like a blockchain or NFT marketplace, are spread across many people or groups, rather than being controlled by a single organization.

Short for "Decentralized Finance." It's a term often associated with NFTs because they are part of the broader movement towards decentralized financial systems.

An NFT that represents a collectible item. These can range from digital trading cards to virtual pets.

Refers to the release or launch of a new NFT collection or item. Drops are often highly anticipated events in the NFT community.

"Do Your Own Research." It's a reminder for people to research NFT projects themselves before investing.

A newer standard that allows a single contract to manage multiple types of tokens, including both fungible (like cryptocurrencies) and non-fungible (like digital art) tokens.

A standard for creating NFTs on the Ethereum blockchain. It ensures that each token is unique and not interchangeable.

A popular blockchain platform used for many NFTs. It has its own cryptocurrency called Ether (ETH).

Traditional money issued by governments, like dollars or euros. Some NFT platforms allow purchases with fiat currency.

The lowest price at which an NFT in a collection can be bought on the marketplace.

"Fear Of Missing Out." This is when people worry they might miss a good opportunity, like buying a popular NFT before it increases in value.

A concept where multiple people can own a share of an NFT, making high-value NFTs more accessible to a broader audience.

Short for "Fear, Uncertainty, and Doubt." This term is used to describe negative information or opinions that might harm the reputation or value of an NFT or a project.

A digital asset that is identical to others of its kind and can be exchanged on a one-for-one basis, like Bitcoin or traditional money. It's the opposite of a non-fungible token.

These are fees paid to complete a transaction or execute a contract on the blockchain, like when you mint or buy an NFT.

A situation where many users are trying to make transactions at the same time, leading to higher gas fees.

The first piece or one of the earliest pieces in an NFT collection. These are often highly valued for their historical significance.

Originally a typo for "hold," it now means holding onto an NFT or cryptocurrency long-term, despite market fluctuations.

A digital wallet that is connected to the internet. While it offers convenience for transactions, it is less secure than a cold wallet.

NFTs that have both physical and digital components. For example, buying the NFT might include ownership of a physical artwork.

Refers to something that cannot be changed or altered. On the blockchain, once a transaction is recorded, it is immutable.

The ability of NFTs to be used across different blockchain platforms and applications. This allows for more flexibility and usability of NFTs.

A decentralized way to store and access files, including the files associated with NFTs. It helps ensure that the digital asset linked to an NFT remains accessible over time.

The ease with which an NFT can be bought or sold. High liquidity means it's easier to trade the NFT without affecting its price.

An online platform where you can buy, sell, or trade NFTs. Examples include OpenSea and Rarible.

Ensuring that the metadata (like the image or file the NFT represents) remains unchanged and accessible over time, even if the platform hosting it shuts down.

Information that describes the NFT, such as its name, description, and the digital file it's linked to.

A collective virtual shared space, often created by the convergence of virtually enhanced physical reality, augmented reality, and the internet. NFTs are increasingly used within these spaces.

The date on which an NFT was created or minted on the blockchain. This is like the "birth date" of the NFT.

A token that gives the holder the right to mint a specific NFT, often used for early access or special editions.

The process of creating a new NFT. When you mint an NFT, you're putting a digital item onto the blockchain for the first time.

Refers to an asset's price going up very high or expecting it to go up significantly.

A wallet that requires multiple signatures to confirm a transaction. This adds a layer of security for NFT and cryptocurrency transactions.

A display or showcase of NFT art, often held in virtual galleries or, more recently, in physical spaces.

Similar to staking, it's the practice of earning new NFTs or cryptocurrencies by holding or using other NFTs.

The practice of buying NFTs and quickly selling them for a profit.

Exclusive content or experiences that can only be accessed by owning a specific NFT.

A unique digital item whose ownership is recorded on a blockchain. Unlike regular tokens, each NFT is different and can't be exchanged on a one-for-one basis.

Opposite to WAGMI, this means "Not Gonna Make It." It's often used to suggest pessimism or doubt about a project or the market in general.

Activities or data not stored directly on the blockchain. Sometimes, NFTs use off-chain solutions for storing the actual digital file due to cost or size constraints.

Refers to data or transactions that are stored directly on the blockchain. This is often seen as more secure and permanent.

Directly trading NFTs between individuals without the need for a centralized marketplace.

Someone who sells their NFTs or cryptocurrencies at the first sign of price dropping, opposite of "Diamond Hands" who hold on to their assets through volatility.

Stands for "Profile Picture." It refers to NFTs that are commonly used as avatars on social media.

A secure code that gives the owner access to their cryptocurrencies or NFTs. It's crucial to keep this private.

The assurance that your NFT is yours, provided by the blockchain. It's like a digital certificate of authenticity.

A cryptographic code that allows users to receive cryptocurrencies or NFTs into their wallet.

Describes how rare or unique an NFT is within a collection. Rarer NFTs are often more valuable.

The process in which the final artwork or trait of an NFT is shown. Some projects initially sell NFTs as 'mystery boxes', with details revealed later.

Road Ruse refers to NFT projects that make unrealistic promises in their project roadmaps, often lacking the experience and funding to fulfill them.

A percentage of sales paid to the original creator of the NFT each time it's sold. This is a way for artists to earn money from their work over time.

A scam where developers abandon a project and run away with investors' funds.

The limited supply of certain NFTs. Scarcity can increase an NFT's value, as it becomes more sought after if fewer are available.

The market where NFTs are bought and sold after the initial sale or minting. This is where most NFT trading occurs.

A series of words generated by your cryptocurrency wallet that gives you access to the cryptocurrencies and NFTs stored within. It's crucial for recovery if you lose access to your wallet.

Promoting an NFT project, often excessively, to increase interest and investment.

A self-executing contract with the terms of the agreement directly written into code. They run on blockchains and are used to handle NFT transactions.

Locking NFTs into a smart contract to receive rewards or earn interest. This is a way to earn passive income from your NFTs.

The process of converting a piece of art or any other asset into a digital token (NFT) that can be bought, sold, or traded on the blockchain.

An NFT that provides additional benefits or uses beyond just owning the token, like access to events or exclusive content.

Parcels of digital real estate that exist within virtual worlds or metaverses. These can be bought, sold, or developed just like physical land, and are often represented as NFTs.

This stands for "We're All Gonna Make It." It's used to express optimism and confidence in the NFT market or a specific project.

A digital wallet where you store your NFTs and cryptocurrencies. It's like an online bank account for your digital assets.

A manipulative practice where an individual repeatedly sells and then quickly re-purchases the same NFT. The primary goal is usually to create a false impression of high demand and trading volume for that particular NFT, which can mislead other potential buyers about its market value and popularity....

An individual or entity that holds a large amount of cryptocurrency or a significant collection of NFTs, often with substantial influence in the market.

A list of users who are given early or exclusive access to mint or purchase new NFTs.

A process where an NFT is 'wrapped' into a fungible token format, enabling it to be traded on platforms and ecosystems that don’t support NFTs directly.