Do you feel confused when people talk about "minting" NFTs or seeing them "pump"? Do phrases like "gm" and "wen moon" leave you puzzled? Don‘t worry – you‘re not alone.
NFT slang can be hard to grasp for beginners entering the space. But learning these insider terms is key to understanding the NFT community and culture.
As an NFT expert who uses web scraping and proxy tools daily, I‘ve compiled this comprehensive guide to break down the most common NFT lingo. Mastering these words and phrases will help you navigate NFT discussions on social media and forums.
We‘ll explore terms related to:
- NFT actions like minting and buying
- Market conditions and events
- Collector mindsets and behaviors
- Key NFT platforms and apps
- And more!
Let‘s dive in and decode the unique dialect of NFT insiders. Soon you‘ll go from n00b to expert speaker of this fast-evolving language.
Contents
The Evolution of NFT Slang
Before we get into specific definitions, it‘s helpful to understand where NFT terminology comes from. Much of it has origins in broader crypto slang that predates NFTs.
Back in the early 2010s, Bitcoin and other cryptocurrency pioneers on platforms like Reddit, Bitcointalk, and IRC chatrooms began using their own vocabulary. This allowed crypto users to bond through insider jargon.
Some classic crypto terms that crossed over into NFT parlance include "HODL" (hold), FUD (fear, uncertainty, doubt), "rekt" (wrecked), and "moon" or "to the moon" (major price gains).
As crypto culture spread through memes and online groups in the following years, more niche lingo developed. When NFTs emerged around 2017, they inherited much of this terminology.
But the unique nature of NFTs as digital art and collectibles also birthed a lexicon of its own. Terms like "lazy minting" and "right clickers" reflect the creative side of non-fungible tokens.
This mashup created the robust slang vocabulary seen in NFT circles today. Next let‘s explore specific categories and popular terms in detail.
NFT Actions: Minting, Buying, Selling
NFT slang includes many words describing key actions like creating, trading, and holding NFTs. Here are some of the most common:
Minting – Creating or generating an NFT and recording its data on a blockchain. This "mints" the NFT similarly to how minting creates new physical coins and bills.
- "I‘m planning to mint a collection of my best GIF art as NFTs soon."
Aping – Recklessly jumping in to buy an NFT without much research. Comes from the idea of mimicking others‘ behavior blindly like "apes."
- "I saw people buzzing about that new collection, so I just aped in and bought one."
Copping – Successfully buying or purchasing an NFT you wanted. Similar to saying you "got" or "snagged" it.
- "I tried to cop one of those CryptoPunks last month but got beat by a higher bid."
Flipping – Quickly reselling an NFT soon after purchasing it to try and profit.
- "I‘m not really into this art, just trying to flip this Bored Ape for a quick buck."
HODLing – Holding onto and not selling your NFT through ups and downs. Comes from the common crypto term "HODL" (hold on for dear life).
- "I don‘t care about short term price swings. I‘m HODLing this Doodles for the long run."
Paper hands – Selling an NFT hastily without much patience or conviction. The opposite of "diamond hands."
- "I had a rare CryptoPunk but paper handed it as soon as I saw it dip 10%."
As you can see, the vocabulary reflects common actions collectors take in the dynamic NFT market. Next we‘ll explore terms related to market conditions and events.
NFT Market Conditions and Events
The fast-moving NFT market experiences constant new trends, developments, and events. Naturally, corresponding slang has emerged to describe these conditions.
Bull market – A period of rising prices and excitement where the overall market is optimistic.
- "Seems like the NFT bull market is back – prices are pumping across the board!"
Bear market – A downturn period marked by declining prices, waning interest, and pessimism.
- "This NFT bear market has made it hard for new projects to gain traction."
Pump – When the price or demand for an NFT suddenly spikes higher.
- "Whoa, did you see MutantApeYachtClub pump today? The floor went from 5 ETH to 12!"
Rug pull – When NFT developers unexpectedly abandon a project and make off with people‘s money.
- "Turns out that NFT roadmap was fake. The founders rugged and pulled all the ETH out."
Wen moon? – Speculating on when an NFT‘s price will skyrocket like a rocket to the moon. From the crypto slang "to the moon."
- "I think this undervalued collection will moon soon. Wen moon for Chromie Squiggles?"
As with any volatile market, NFTs have their share of booms, busts, scams, and surprises. The vocabulary reflects this dynamic nature.
Next we‘ll learn terms referring to participants and their behaviors in NFT communities.
Collector Mindsets and Behaviors
NFT collectors display different mindsets and behaviors depending on their goals, values, and preferences. Some common slang terms in this category include:
Diamond hands – Refusing to sell your NFT despite dips and volatility. Having "hands of diamond" means you‘re resolute.
- "I‘m not shaken by this temporary dip. Diamond hands over here!"
Paper hands – The opposite of diamond hands. Selling your NFT quickly without conviction at the first sign of trouble.
- "Prices dropped 5% and all the paper hands panic sold their Pudgy Penguins."
OG – Short for original. Referring to someone who got into an NFT collection or community early on.
- "I minted my CryptoPunk back in 2017. I‘m an OG owner."
Szn – Season. Collector seasons reflect trends and market conditions at a given period.
- "Looks like bear szn might be over. People are aping into NFTs like crazy again!"
Maximalist – A diehard believer in NFTs (or a certain NFT project) who rejects all criticism.
- "I only collect CryptoPunks. I guess you could call me a Punk maximalist!"
As you can see, collector mindsets run the gamut from stoic diamond hands to reactionary paper hands and everything in between.
Now let‘s explore key platforms and tools in the NFT space.
NFT Apps and Platforms
Some NFT slang comes from popular NFT platforms and apps like marketplaces and wallets.
OpenSea – The largest NFT marketplace where people buy, sell, and trade NFTs.
- "I browse OpenSea when I want to find new additions to my NFT collection."
LooksRare – A newer NFT marketplace seeking to compete with OpenSea.
- "LooksRare is giving out tokens for trading activity. I‘m trying it out."
Metamask – A popular cryptocurrency wallet used to store NFTs and crypto. Integrates with sites like OpenSea.
- "Make sure to set up MetaMask first before you buy any NFTs."
Coinbase – Leading mainstream crypto exchange that also provides some NFT services.
- "Coinbase NFT just opened up a waitlist. I signed up to get early access."
As the NFT ecosystem expands, we‘ll likely see more slang emerge from new platforms, companies and technologies.
Now let‘s wrap up with some final common NFT terms and phrases.
Other Key NFT Slang Terms
Here are a few more examples of popular NFT lingo:
GM – Good morning. A common NFT greeting on social media and Discord reflecting the 24/7 hustle.
GN – Good night. Used before signing off for the day.
WAGMI – We‘re all gonna make it. Expresses community optimism about the future.
NGMI – Not gonna make it. Typically said self-deprecatingly about a failed investment.
YOLO – You only live once. Carpe diem rationale for reckless aping into NFTs.
Right clickers – Derogatory term for those who right click save NFTs rather than buying.
And that‘s just a sample of the ever-expanding lingo used in NFT circles today!
Do You Speak NFT Now?
After reading through these many examples, you can see how learning NFT terminology goes hand in hand with understanding the culture. The language reflects how collectors behave, what they value, and where the market may be headed.
If some terms are still unclear, don‘t fret. You‘ll pick up more and more slang through immersive activities like:
- Joining NFT Discord servers and chat rooms
- Following top NFT influencers on Twitter
- Reading NFT blogs and listening to podcasts
- Watching livestreams of NFT events and AMAs
It‘s a lot like learning any language – full immersion is key!
As you dive deeper into the NFT community, reference this guide when you stumble upon new words and phrases. Soon you‘ll go from confused n00b to expert speaker of the NFT dialect.
I hope breaking down these insider terms gives you confidence to navigate NFT conversations and participate in the culture. Now get out there, ape into some projects, and spread the NFT slang gospel! WAGMI!
