GLOSSARY

Art where each piece is unique (1 of 1).

This can be thought in contract to PFP and Generative Art collections that range from 200 to 10,000 pieces typically.

ArtBlocks, the most important platform for generative art in the world, that has three collections: "Curated" (ABC), "Playground" and "Factory".

An NFT or Token that is dropped into your wallet by someone else for free.

A term from the investing/hedge fund community representing the outperformance generated by the skill of the asset manager vs beta (the market’s performance).

“She dropping some serious alpha today”.

It means "take on a large position relative to one's own portfolio size"

Apes have a strong NFT history - first, the famous 24 ape punks and then with Bored Ape Yacht Club.

A high quality NFT that usually belongs to a well-established project and enjoys public confidence in its worth and stability

Bridging typically involves connecting two different networks and permits the transfer of tokens/data between them.

When you fail to mint a project and have to buy on OpenSea and another Marketplace.

Comes from finance world - primary stock sales are directly from company; secondary is what you trade day to day. Almost all action is secondary.

The opposite of FOMO.

Failing to buy an NFT because one is coping with one’s earlier error of not FOMOing at 1/10th of the price.

Decentralized finance, or 'DeFi', is an emerging digital financial infrastructure that is meant to remove the need for a central bank or government agency to approve financial transactions. Rather than relying on intermediaries such as brokerages, exchanges, or banks, DeFi emphasizes the use of smart contracts on the blockchain.

People who take high risks and often jump in without research.

Degenerative.

Delist your NFTs from Opensea (no longer offer them for sale) because prices are rising rapidly and they might get sold and market expectations of their value has changed.

Projects derived from the original project, first popularized with a wide variety of "alternative" punks.

People who hold their NFT’s for the long term. Often a ride or die situation.

People who have publicly revealed their identity

Do Your Own Research.

The person telling you this is (correctly) disclaiming responsibility re the question of if an NFT is right or wrong for you.

When a user engages in fraudulent tactics such as buying followers, faking engagement, hosting giveaways with no intention to deliver, and using bots to drive the perception that their account or project is popular.

Short for Ethereum, is one of the most common blockchains to store NFTs.

In the NFT market, floor price is the lowest amount of money you are required to spend to become a member of a project (own a NFT)

Fear Of Missing Out

Buying an NFT because you are afraid of missing out on the next big thing. It can be used as a verb “I FOMOed into Project XYZ and I am not sure why”

The lowest available asking price either for a collection as a whole or for a subset of the collection.

Fear, Uncertainty and Doubt.
Typically referring to people who doubt a project.

The process of buying NFTs at a low price and selling them quickly for a profit.

The fee required to run a transaction on a blockchain.

The state of chaos that ensues when all of NFT twitter tries to mint the same project at once, driving up gas prices for the whole Ethereum network.

Art that is algorithmically generated, ideally in real-time when minted.

"Gonna Make It"

The happy future state when everyone understands our JPGs the way we do.

“Hold on for dear life!”
Holding an NFT for a long time.

“In Real Life”
Otherwise known as the world beyond OpenSea, Twitter and Discord. Some refer to this as the meat space.

If You Know You Know

This is polite form of FOMO.

Let's F***ing Go. Used when you are excited about something. Best used with rocket emojis.

Available ETH to buy assets.
A financial term referring to the ability to quickly transfer assets to cash.

Rarity is often a driver of value in this space. Often used ironically.
Not to be confused with the NFT Marketplace of the same name.

Ongoing joke about a backup career plan in case the NGMI scenario comes true “Sold a Fidenze for 5ETH. Applying now to McDonald’s”.

Minting is the process of creating or producing something. In blockchain, minting means, validating information, creating a new block and recording that information into the blockchain.

NFA means "Not Financial Advice".

It is related to DYOR. Again, someone shares an idea, but your job to decide if it is for you.

"Not Going To Make It".

Best used in a self-deprecating way about one's own personal bad decisions "Sold a Fidenza for 5ETH. NGMI".

Original Gangster

First become popular through 1990s hiphop, the super-Lindy term just flows through community after community. It means the folks who were here early and earned respect.

“Play to Earn”
Games where you earn something for playing.

People who panic sell.

Profile Picture.

"Probably nothing" means "probably something".

It is the polite way to FOMO, with just barely some plausible deniability. "Visa bought a punk. Probably nothing"

A flash campaign on social media utilized by project teams to increase community engagement and promote their NFTs.

The set of activities an NFT project (usually PFP) will plan to do to add value to a community.

Needs some care to not accidentally violate securities laws.

Rug is short for rug pulled. Meaning that the team and project has disappeared or stopped building.

It came from Crypto Twitter and particularly DeFi where a lot of projects pumped and dumped on retail.

Ser means "sir". It is a way to respectfully introduce oneself or perhaps share an alternative point of view.

Advertising a project or token.

Season, market cycle.

Crypto szns are accelerated IRL seasons. NFT szns are accelerated crypto seasons. Might last as little as 1-4 weeks.

It is everyone’s desired direction of NFTs prices, certainly preferable to the less popular alternative of “Down Only”.

"We All Gonna Make It".

The happy future state when everyone understands our JPGs the way we do. "MOMA just bought a punk. WAGMI".

Someone with huge holdings. Typically referring to those with large amounts of NFTs from a single project.