NFT Dictionary: Terms Used by the NFT Community!

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Non-fungible token (NFT) his community is still very new, but it seems that they have strong ties within themselves. So much so that even a language that the NFT community uses among themselves may be dec. If you are new to the NFT community, learning these terms may make things a little easier for you.

Terms Used by the NFT Community

NFT communityof course, the terms that nun uses among dec have not gained any formality. But if you want to become a participant in the NFT community, it’s worth knowing these terms. A Twitter user named Punk629 shared these 50 terms with his users, and we have compiled these shares for you.

NFT what does the term mean in the community, let’s look together:

  • GM: “Good Morning” means good morning. The NFT community necessarily calls each other “GM” every morning. Because they think that they are a friendly, happy, optimistic global community and it is nice to say good morning to your friends when you start your day.
  • GN: “Good Night” means good night. Similarly, the NFT community thinks it’s a good thing to say goodnight to each other.
  • Evil: It’s used instead of ”sir”. Sir is used to denote respectability, and the NFT community also considers respect to be an important point of view.
  • Braking: The term ”friend” is used instead of the term in the back. The community all uses this term because they are friends with each other.
  • GMI/ WAGMI: “Gonna Make It“ is used to mean that we will make it and ”We’re All Gonna Make It” means that we will all make it.
  • NGMI: “Not Going To Make It” means I can’t do it.
  • McDonald: It means that if NGMI occurs, that is, if there is a failure, McDonald’s will be contacted. In fact, this is also familiar from Turkish: if a person fails at a job, it’s like saying “What should I do, I’ll be a cashier at a grocery store” 🙂
  • LL: It is used to refer to the Larvalabs, the creator of punks, autoglyphs and meebits.
  • EU: “Curated“ (ABC) is used to refer to ARTBLOCKS, the most important platform for productive art in the world, which has three collections – ”Playground“ and ”Factory”.
  • Generative Art (Gen Art): Means productive art.
  • PFP: “Profile picture” means profile picture. If you are familiar with the NFT community, you may have noticed that each of them has an NFT image of their profile picture.
  • Looks Rare: It is used to indicate that an NFT is rare. The value of NFTs is determined by how rare they are.
  • FOMO: In fact, we also use it for cryptocurrencies. “Fear of Missing Out” means the fear of losing.
  • COPE: The opposite of FOMO is used to express situations.
  • 1:1 Art: It means art, where each piece is unique.
  • Szn: It is used to denote the season, which means the market cycle.
  • IRL: ”In Real Life”, that is, OpenSea, is used to denote the real life known as the world beyond Twitter and Discord.
  • Probably Nothing: It means “probably nothing”.
  • Up Only: This term, which means ”only up”, is used to wish that prices always go up.
  • Liquidity: We are also familiar with this term from cryptocurrencies. This term for liquidity In the NFT world means ETH, which can be used to buy JPG.
  • The Mint: The act of publishing a work of art on the blockchain by the artist or collector. So the process of creating NFT.
  • HEN: It’s a marketplace that the NFT community doesn’t like very much.
  • 1/1 of X: It is characterized as a way to think about PFP and gen art collections. For example, punks are 1/1 of 10,000, fidenzas are 1/1 of 999. Each of them is unique, but unlike 1:1 art, they belong to a coherent collection.
  • Right Click Save As: It is used to express that people who do not know anything about NFTs save NFT images with the “right-click save” option.
  • This is the way: A way to praise socially positive behavior.
  • Floor Price (FP): It is used to describe the lowest price offer that can be given for any NFT or NFT collection.
  • MV: OG means ”original gangster”. It is used to denote people who are among the first participants of the community.
  • It’s money launching: We also know this term from cryptocurrencies. This term, which means ”money laundering”, is used similarly in NFTs.
  • JPGs: This term represents all files that can be NFT, such as audio files, images, video files, and GIFs.
  • The Delist: The removal of NFTs from marketplaces such as OpenSea, such as the removal of crypto currencies on exchanges, means that they are removed from sale.
  • Discord: The messaging platform that NFT project communities use extensively.
  • Roadmap: This term, which means roadmap, is used to refer to the steps that an NFT project plans to take in the future. The term roadmap is also often used in cryptocurrency projects.
  • LFG: A term used by the NFT community to express their excitement about an issue.
  • Gas or Gas Wars: It is used to express the state of chaos that occurs when the entire NFT community tries to mint the same project at the same time. Because in this case, transaction fees on Ethereum, that is, gas fees, are rising too much.
  • Ded: It is used as an abbreviation of the word ”dead”, that is, dead.
  • Rugby: It is used as a shortening of the rug pull. Rug pull, on the other hand, can be defined as a situation where the team abandoned the project and took all the funds and fled.
  • IYKYK: The term, which is an abbreviation of ”If You Know, You Know This is”, is used as a slightly softer version of FOMO.
  • Noob/Plebeian: A term used to refer to those who are new to the community.
  • Seems legit: It is used as an abbreviation of ”seemslegitimate“ and means ”it seems legal”.
  • Meatspace: Another term used to refer to the real world.
  • Buying on secondary: When you fail to mint a project, you have to buy it from a marketplace such as OpenSea. A kind of second-hand purchase 🙂
  • Schelling Point: A game theory term that people believe applies to NFTs and BTC. It specifically represents the idea that certain NFTs will become stores of value.
  • Valhalla: It’s a huge hall where dead Vikings party with people with valuable NFTs.
  • Aped: Monkeys occupy a fairly large place in the crypto currency ecosystem, and this term also means that a person takes a large position based on the size of his portfolio.
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