Navigating the world of Non-Fungible Tokens (NFTs) can feel like learning a new language. From cheerful greetings to complex trading strategies, the community has developed a unique lexicon to describe its culture, actions, and inside jokes. Understanding these terms is crucial for anyone looking to participate meaningfully in this digital revolution.
This guide breaks down over 60 essential NFT slang terms and phrases, explaining their meanings and providing context for how they're used within the community. Whether you're a newcomer or looking to deepen your knowledge, this glossary will help you communicate like a seasoned collector.
Common Greetings and Community Terms
GM (Good Morning)
A friendly abbreviation used to greet others in the community. It reflects the positive and optimistic spirit shared by NFT enthusiasts worldwide.
GN (Good Night)
The evening counterpart to GM, used to end the day on a positive note among friends in the space.
Ser
A respectful abbreviation of "Sir," used to politely address someone or introduce an alternative viewpoint.
Mam
Short for "Ma'am," used similarly to "Ser" as a term of respect when addressing female community members.
Example: Mam, I prefer my Golden Snail NFT.
Fren
A playful spelling of "Friend." In the NFT world, everyone is considered a friend working together toward common goals.
Success and Mindset Terminology
GMI/WAGMI
GMI stands for "Gonna Make It," while WAGMI means "We All Gonna Make It." These expressions describe the hopeful state when everyone understands the value of collecting digital artwork.
Example: The Museum of Modern Art just bought a CryptoPunk—WAGMI!
NGMI
"Not Gonna Make It." Used self-deprecatingly to acknowledge poor decisions or missed opportunities.
Example: Sold a Fidenza for 5 ETH—NGMI.
McDonald's
Refers to the fast-food chain, jokingly suggesting where one might need to work if their NFT investments perform poorly.
Example: Sold my Fidenza for 5 ETH—time to apply at McDonald's.
Platform and Project Abbreviations
LL
Stands for Larva Labs, the creator of notable NFT projects including CryptoPunks, Autoglyphs, and Meebits.
AB
Short for Art Blocks, a leading platform for generative NFT art with three main collections: Curated (ABC), Playground, and Factory.
Generative Art
Artwork created algorithmically, often generated in real-time at the moment of minting.
PFP
"Profile Picture." Refers to NFTs used as social media avatars on platforms like Twitter and Discord, such as CryptoPunks, Bored Apes, or various animal-themed designs.
Market Behavior and Trading Terms
Looks Rare
"Looks rare." Ironically used when someone shares a particularly common or unremarkable NFT image.
FOMO
"Fear Of Missing Out." The anxiety that leads to purchasing NFTs simply because others are buying and prices are rising.
Cope
The opposite of FOMO. The regret felt after missing out on a valuable purchase opportunity, often leading to reluctance to engage further.
Example: A: I know Golden Snail NFTs are up 50x and heading to Christie's, but I didn't join the drop because I didn't like it.
B: Okay, lol. Cope.
Szn
Short for "Season." Refers to market cycles, which in the NFT space typically last only 1-4 weeks—much faster than traditional market cycles.
1:1 Art
Artwork that is completely unique, with only one copy existing. PFPs and generative art NFTs use this model, with editions typically ranging from 200 to 10,000 pieces.
Floor Price
The lowest asking price for an NFT within a collection on marketplaces like OpenSea.
Example: Golden Snail NFT reached a 3 ETH floor price, but the Golden Snail Nerd Glasses NFT hit 12 ETH this morning.
Buying on Secondary
Purchasing an NFT on a marketplace like OpenSea after missing the initial minting opportunity.
Sweep the Floor
Buying all the lowest-priced NFTs in a particular collection, often resulting in holding too many similar assets.
Technology and Blockchain Concepts
Mint
The process of initially issuing artwork on the blockchain, either by the artist or collector.
IRL
"In Real Life." The world outside of OpenSea, Twitter, and Discord.
Meatspace
Another term for the physical world, synonymous with IRL.
On-Chain/Off-Chain
Referring to whether specific processes occur on the blockchain (on-chain) or outside it before being executed on the blockchain (off-chain).
Burn
Sending an NFT to an address where it becomes inaccessible, usually to receive other rewards or benefits.
Example: He burned his Golden Snail NFT to receive a Golden Snail DAO NFT.
Stake
Locking NFTs in a smart contract to earn rewards, similar to staking in DeFi protocols.
Community Roles and Attitudes
OG
"Original Gangster." Someone who entered the NFT space early and has earned respect through their experience and contributions.
Noob/Pleb
"Newbie" and "Plebeian." Terms for newcomers or those with less experience, best used self-referentially to avoid offense.
Degen
Short for "Degenerate." Describes someone who takes unusually high risks in their NFT trading activities.
Maxi
Derived from "Bitcoin Maximalist." Someone who strongly believes in one particular blockchain or NFT project above all others.
Alpha
Originally from investment fund terminology, referring to performance exceeding market benchmarks. In NFTs, it refers to valuable insights or information.
Shilling
Aggressively promoting certain NFTs to create FOMO, generally considered annoying and frowned upon.
Emotional States and Reactions
Salt
Refers to the bitterness or regret felt after making poor investment decisions, akin to the taste of tears.
Rekt
Short for "wrecked." Describes a portfolio that has suffered significant losses.
Example: I tried to short Golden Snail and got rekt—NGMI.
FUD
"Fear, Uncertainty, and Doubt." Used to describe negative sentiment or misinformation that might depress prices.
Love to See It/Hate to See It
Expressions of approval or disapproval toward developments in the NFT space.
Organizational Structures
DAO
"Decentralized Autonomous Organization." Member-owned communities without centralized leadership, though regulatory concerns exist.
Roadmap
A plan outlining how an NFT project (typically PFP) intends to add value for its community. While expected for PFP projects, requesting roadmaps from art projects is often considered insulting.
Cultural References and Expressions
Probably Nothing
A polite version of FOMO, used when there's little doubt that market prices will rise.
Few
Short for "Few understand." Similar to "Probably Nothing."
IYKYK
"If You Know, You Know." Another variation expressing that those who understand the space will recognize the significance of something.
Up Only
The ideal direction for NFT prices. "Down Only" is the less popular opposite.
Liquidity
A theoretical state where ETH is available, though in practice most available ETH quickly gets converted to NFTs, leaving everyone perpetually illiquid.
Right Click Save As
The act of downloading an NFT image through browser functions, often mentioned by skeptics who don't understand the value of blockchain verification.
This is the way
Expression of approval for positive behavior within the community.
Wen moon?
"When moon?" A question about when prices will skyrocket, often used sarcastically.
Valhalla
In Norse mythology, the heavenly afterlife where warriors feast. In NFT context, where successful collectors hope to end up rather than working at McDonald's.
OK Boomer
Dismissive response to anyone over 22 (regardless of actual age) who expresses skeptical views about NFTs.
They
Gender-neutral pronoun used when interacting with anonymous community members whose gender isn't known.
I see what you did there
Acknowledgement when noticing someone's actions or strategies within the metaverse.
Your Bags
Refers to one's NFT wallet and its contents.
GOAT
"Greatest Of All Time." Expression of utmost respect, often accompanied by goat emojis.
Practical Advice and Disclaimers
DYOR
"Do Your Own Research." A disclaimer emphasizing that individuals should verify information themselves rather than blindly following others' advice.
NFA
"Not Financial Advice." Similar to DYOR, clarifying that shared opinions shouldn't be considered investment recommendations.
Seems Legit
"Seems legitimate." Can genuinely mean a project appears serious with good prospects, or ironically suggest the opposite.
Platforms and Marketplaces
HEN
Hic et Nunc, an NFT marketplace on the Tezos blockchain known for interesting but inexpensive NFTs and a challenging user interface.
Discord
The messaging platform where most NFT communities congregate, known for being both essential and frustrating due to high traffic and scam attempts.
Economic Concepts
1/1 of X
A way of conceptualizing PFP and generative art NFTs. Each piece is unique (1/1) but part of a larger collection.
Example: CryptoPunks are 1/1 of 10,000; Fidenzas are 1/1 of 999.
Derivatives
Projects derived from existing NFT collections, first popularized with Punk-inspired works. Derivatives can enhance the value of the original brand if approached objectively.
It's Money Laundering
A skeptical view that NFT prices are inflated through illicit activities, often expressed by those outside the community.
JPGs
A catch-all term for NFTs, regardless of whether they're images, GIFs, videos, audio files, or other digital assets.
Delist
Removing an NFT from sale on a marketplace because prices are rising rapidly and the owner believes the value will increase further.
Gas or Gas Wars
The chaos that ensues when many users try to mint the same NFT project simultaneously, driving up transaction fees on the Ethereum network.
Schelling Point
A game theory concept applied to NFTs and Bitcoin, describing how people coordinate without communication around focal points that become价值 stores.
Aped
Taking a large position in a particular NFT, derived from the significant ape-themed history in NFTs including the original 24 ape CryptoPunks and Bored Ape Yacht Club.
Final Expressions
Ded
Short for "dead" or "deceased." Used dramatically to express that one's poor decisions have figuratively killed them.
Rug
Short for "rug pull." When developers abandon a project and take investors' funds, a problem common in DeFi that also affects NFT projects.
LFG
"Let's F*ing Go!" An expression of excitement, often accompanied by rocket emojis.
Frequently Asked Questions
What is the most important NFT term for beginners to know?
GM (Good Morning) and GN (Good Night) are essential community greetings that help newcomers connect with established collectors. Understanding these basic terms demonstrates respect for community norms and opens doors to more meaningful interactions.
How do I know which NFT terms are most relevant to my interests?
Focus on terms related to your specific NFT focus areas. If you're interested in art, prioritize generative art terms. For community projects, learn about DAOs and roadmap terminology. For trading, understand floor price, sweeps, and market cycles. 👉 Explore more NFT strategies
Why does the NFT community use so much slang and abbreviation?
The rapid pace of innovation and communication in the NFT space naturally breeds shorthand terminology. Additionally, the global nature of the community means participants develop shared language to create cohesion across cultures and time zones.
Are there negative consequences for using NFT terms incorrectly?
While most community members are welcoming to newcomers, consistently misusing terms might mark someone as inexperienced. However, asking thoughtful questions about terminology is generally respected more than pretending to understand concepts you don't.
How often do new NFT terms emerge?
The NFT lexicon evolves constantly, with new terms appearing weekly during active market periods. Following respected collectors and participating in community discussions are the best ways to stay current with the latest terminology.
Where can I practice using NFT terminology appropriately?
Twitter spaces, Discord channels, and Clubhouse rooms dedicated to NFT discussions provide low-pressure environments to observe and practice using NFT terminology correctly before engaging in higher-stakes conversations.
This comprehensive guide to NFT terminology provides the foundation you need to participate confidently in the digital collectibles space. Remember that the community values authentic engagement over perfect terminology—so don't be afraid to join conversations, ask questions, and continue learning as this exciting space evolves.