In the crypto-verse, abbreviations and typos run rampant. Here is a collection of frequently used words and their respective meanings.
Web3, a catch-all phrase referring to the next generation of the internet that integrates blockchain technology, is rife with jargon, acronyms, and slang.
While Crypto Twitter (CT) has used many of this terminology for years, the decentralized finance (DeFi) and non-fungible token (NFT) communities have embraced a number of them and coined others.
Table of Contents
Bitcoin and NFT Phrases
Here is a portion of the ever-expanding list:
ALPHA
Insider information or knowledge.
ANON
Persona anonyma on the internet. When someone says anon, they are referring to an unidentified individual. The phrase is often used sarcastically and in a broad sense. For example, please do not FUD my baggage, Dear Anonymus. Sincerely yours,
APE
As a noun, it means NFTs from the Bored Ape Yacht Club. As a verb, it refers to purchasing a large quantity of anything on a whim or without doing much investigation. Degens like aping into many undertakings.
BAGS
Typically considerable sums of assets. My Bored Ape bags are holding firm, Don’t FUD my bags, and I have a large bag of DOGE are examples of such statements.
DEGEN
A degenerate. DeFi degens and NFT degens usually lead a degenerate lifestyle characterized by high-risk trading, crypto-obsession, and a lack of self-care practices. Frequently, NFT degens emphasize purchasing and selling NFTs above other essential activities such as school or job.
DIAMOND HANDS
Long-term possession of an asset, through thick and bad. Someone with diamond hands has held or handled their crypto or NFTs for an extended period.
FP/FLOOR PRICE
Minimum purchase now prices for a non-transferable token. Prices on the floor might change significantly.
FREE
Friend. This deliberate misspelling of the word friend is often spoken with a warmer, more youthful tone and accent.
FUD
Fear, uneasiness, and uncertainty. Fear, uncertainty, and doubt are prevalent in the volatile crypto and NFT markets. Internet users criticize others for forging different currencies and enterprises.
GAS
There are transaction fees on the Ethereum network. Traffic increases the price of gasoline.
GM
Excellent morning. This word is used among crypto and NFT traders on Discord servers, Telegram conversations, and Twitter to encourage happiness, welcome others, and foster a feeling of community.
GN
Good night. Comparable to gm, but employed in the evening. Typically, it indicates that the person has logged off for the night.
LFG
Let’s get on with it. A term used to encourage and applaud individuals, initiatives, or accomplishments.
LOOKS RARE
Used to denote an NFT as having unique characteristics. The phrase may also be used humorously or sarcastically to refer to common or unsightly NFTs.
MINT
NFT main sale. Mint is a noun and a verb. The Cool Cats mint, for example, costs 0.02 Ether! Or, last week, I issued an Otherdeed NFT.
MOON
Significant rise in value (verb). In the context of cryptocurrencies, the term moon refers to increased asset price over time. When the moon is an example term that asks, “When will [asset] value grow dramatically?” Or Doge is now mooning.
MOON BAG
A cryptographic word for a collection of assets consisting only of earnings after the original investment has been deducted. This method decreases one’s risk and allows them to hold onto an asset, expecting its value to continue to rise.
MOONBOY/MOONGIRL
A person who has an asset and expects its value will skyrocket relatively quickly. After recognizing that one was unduly enthusiastic about the future of a cryptocurrency or NFT project, this term may be used to characterize oneself or others.
NFA/DYOR
Not financial advice; investigate on your own. Disclaimers are often used on social media by persons who do not want to be held liable if you follow their crypto or NFT trading advice, frequently stated as a single statement, Not financial advice. Do your investigation.
NGMI
Not going to make it. A dismissive or pejorative word is used to characterize individuals or endeavors that will not be successful or sustainable.
NORMIE
A person who does not own cryptocurrencies or non-fungible tokens or lacks awareness of crypto or NFT markets.
PAPER HANDS
Contrary to diamond hands. Paper dealing refers to persons who purchase and sell assets within shorter timescales, ranging from a few minutes to a few months. The paper in paper handing refers to monetary banknotes printed on paper. Paper handlers often sell assets early in a panic for liquidity and then watch uncomfortably as the asset’s value continues to rise.
Because they have not owned an item long enough for it to increase in value, persons with paper hands often generate less profit than those with diamond hands. Paper hands. gg enables users to discover which NFTs they have previously apprehended.
Profile image. The abbreviation for a user’s profile photo on social networking or messaging networks. PFP NFTs are NFTs intended for use as social media profile images. PFP NFTs are normally square and depict a character’s picture from the chest up.
PROBABLY NOTHING/SOMETHING
When someone jokes that something is likely nothing, it is substantial and intended to draw attention to some important news. Possibly, something has the same significance.
DOUBLE-CLICK SAVE
To save a picture of an NFT, use the right mouse button. Right-clicking and saving is a popular response from NFT haters, who feel that NFTs are nothing more than JPGs and do not value blockchain-based ownership verification.
RUG/RUGPULL
A fraudulent or deceptive initiative in which the project’s creators abruptly vanish (with their money yoinked from the project). There have been incidents involving crypto, DeFi, and NFTs. No one is immune to becoming tough.
SEEMS LEGIT
Seems authentic. Ironic usage of phrases when something does not seem to be authentic.
SER
Sir. A method of addressing someone inside the NFT community: gm ser.
BEST SIGNAL
An indicator that something’s market worth has reached its present peak. On crypto and NFT Twitter, a leading indicator may be a celebrity purchasing from an NFT project, a retail outlet creating an NFT collection, or a celebrity launching their social currency.
WAGMI
We’re all going to make it. A word used by NFT groups to promote optimism and the belief that everyone will be financially successful in the NFT sector, regardless of whether this is true.
WHITELIST/WL/ALLOWLIST
The list of crypto wallet addresses permitted to mint first from a new collection during the presale. Wen WL? When is the allowlist or When is the allowlist entrance? Can I be added? Some individuals find the term whitelist to be distasteful or derogatory, preferring the term allowlist, which also refers to an NFT presale list.
YUGA
Yuga Labs is the inventor of the Bored Ape Yacht Club and the current owner of the CryptoPunks and Meebits. Alternately known as YL
