NFT Slang: Get Updated With NFT Meanings & Terms

Non-fungible tokens (NFTs) have been revolving around us for a while now. Still, it’s easy to get lost in a sea of acronyms and made-up words in this ever-growing industry. Though these slang terms might sound nonsensical, they hold a lot of weight. Taking the time to understand the way the NFT community interacts and communicates can significantly help your understanding of this unique form of investment. And the good news is that this jargon isn’t tough to know and use, once you get the hang of it. 

Why Do You Need a Good Grasp of NFT Slang?

Many people assume that keeping up with internet slang is silly and unnecessary. But if you're keen to fit in and sound like a native in the web3 or NFT space, it’s essential to know some basic NFT terminology that promises to get you to places. A good note here is that NFT value is greatly affected by supply and demand, so even random internet trends can have consequences for investors. Understanding the common NFT terms helps you to extract the information you need to invest wisely.

40 Top NFT Slang Meanings and Terms

Let's dive right into the top NFT terms, slang and meanings that promise to level up your NFT lingo. Here are the top terms you need to know. 

1. Art Blocks

Art blocks are popular types of NFTs based on the Ethereum blockchain. They use programmable generative minting technology to create original pieces of digital art. Each of these NFTs is distinctive, unique and completely random.

2. Airdrop

An airdrop occurs whenever an NFT project or creator automatically sends newly minted NFTs to community members or promoters. Different variations of airdrops include NFTs, tokens and coins. 

3. AFAIK

This NFT meaning is slang for "as far as I know" and is commonly used when chatting about NFT speculation.

4. Ape In

"Ape in" describes rushing to put all your money into a single NFT or crypto coin. It's often used as a verb, and can imply the investor is operating based on excitement and emotion — instead of common sense.

5. ATH/ATL

ATH stands for "all-time high," while ATL means "all-time low." These terms are commonly used to indicate that the price of digital assets or collectibles has reached an ATH or ATH price.

6. Blue Chip

A blue chip NFT refers to NFT projects people believe will be reliable and stable. Blue chips are often perceived as long-term investments, like Bitcoin or Ethereum. In the NFT context, blue chip NFTs can refer to time-tested digital PFP images, such as CryptoPunks or Bored Ape Yacht Club.

7. Buy the Dip

This lingo comes from stock investments, but it also applies to NFTs. It means one should buy a new NFT when the price temporarily dips downwards.

8. Copycat

Copycat NFTs are just copies of popular NFTs, but with a slight twist. For example, instead of NFTs with apes, a copycat NFT might use the Bored Ape structure for a set of bird-themed NFTs.

9. DAO

DAO stands for "decentralized autonomous organization." DAOs are community-run organizations that (in this case) govern NFT collectives.

10. Ded

This term is simply a joking version of "dead." It implies that the user or NFT is so exhausted, worn out or valueless that it doesn't even deserve the courtesy of spelling "dead" correctly.

11. Delayed Reveal

A delayed reveal strategy involves distributing digital collectibles to users without revealing their contents. Users only inspect their NFTs once they enter a password, wait for a set amount of time to pass, or meet another condition.

12. Delist

Delisting is a verb that refers to the act of taking an NFT off of major marketplaces. If the asset isn’t for sale through any public location, it is delisted.

13. Diamond Hands

Diamond hands is another NFT term originating in stock investors memes. Diamond hands means someone with "strong" hands that won't drop a stock or NFT. This translates to an investor with a high-risk tolerance, who will keep holding an NFT even if its value is volatile. Diamond hands are often represented with an emoji of a diamond and a pair of hands. 

14. Dutch Auction

Dutch auctions work the opposite way of standard auctions: The auctioneer begins with the highest possible price, and continues lowering it until a desired price is reached.

15. DYOR

DYOR stands for "do your own research." This acronym emphasizes the importance of looking into an NFT's background before you buy it.

16. Flipping

NFT flippers either mint or purchase an NFT at a low price. Then they hold onto these NFTs until the price increases, and sell them for a higher price on a secondary market.

17. Floor Price

The floor price refers to the lowest-valued NFT in any collection. For example, Bored Ape's floor price would be 67 ETH because that's currently the lowest listed price for any Bored Ape NFT.

18. Floor Sweeping

Floor sweeping or sweep the floor is used interchangeably which means that a person is buying multiple NFTs at a very low price. Typically, when someone sweeps the floor, they'll quickly buy a large number of NFTs at their floor price before demand can push individual NFT prices to a higher level. 

19. Free Minting

Free minting occurs whenever an NFT organization lets users create new NFTs for free. Free mints often require you to sign up for an account and perform some action, such as playing a game.

20. Gas

“Gas” is the slang term for the payment required in order to operate on a blockchain. Usually, each NFT transaction involves a small gas fee to transfer the NFT to a new owner.

Learn more: What Is anNFT Gas Fee?

21. Gas Wars

Many blockchains let you "bid" on gas fees, and the highest bidder gets to process their transaction first. Gas wars occur when there’s a lot of demand, and users are hiking up gas prices as they scramble to complete their sales.

22. Generative Art

Also often called "AI art," generative art is digital art randomly made with algorithms or code. It usually includes basic shapes or other concepts arranged in seemingly random configurations. 

23. GMI/WAGMI

GMI stands for "gonna make it," while WAGMI means "we’re all gonna make it." These terms express the general sentiment of all NFT traders making a profit because the outlook on an NFT project is so optimistic.

24. IRL

IRL is an acronym for "in real life." It refers to any behavior that takes place in person instead of over the internet or on a computer screen. 

25. LFG

LFG is an acronym that stands for "Let's fucking go." It expresses excitement and enthusiasm about things like new NFTs or a sudden price spike.

26. Liquidity

Liquidity is a financial term that refers to any asset you can quickly turn into cash without harming the asset's value. Most NFTs are liquid but locked, while staked ones are not. 

27. Minting

Minting refers to the process of creating a new NFT. Every time a new NFT is formed, it is minted.

28. Open Edition

Open edition refers to the NFTs users can mint as many editions during the sale within a certain time frame. The time frame is usually short-term that happens within minutes. During this time, there is no limit as to how many NFTs a buyer can mint as long as it’s within the time frame. 

29. Paper Hands

Paper hands mean that someone's “hands” are so weak that they’ll drop any NFTs they’re holding. The term describes a very low-risk tolerance. or a person who will sell their NFT the instant the price wobbles.

30. PFP

PFP is short for "profile picture." It usually describes any NFT that’s a picture of some character. Prominent examples (as mentioned above) include Bored Ape Yacht Club and CryptoPunks. 

31. P2E

P2E is an acronym that represents the concept of "play to earn." It describes NFT P2E games which involve playing some sort of game and earning NFTs as rewards. 

32. Pumping

Pumping is a term that describes the act of purposefully "pumping up" an NFT's value. Pumping can include everything from marketing tactics like a celebrity promoting an NFT to financial tactics, such as selling a lot of tokens to increase the collective token price. 

33. Rarity

Rarity refers to the exclusivity of an NFT due to its scarcity. NFT rarity can depend on everything from the number of NFTs minted to the colors or images expressed in the NFT.

34. Rug Pull

A rug pull is a type of scam common in the crypto space. It describes a scam whereby developers attract a lot of attention by describing a promising project, and then quickly abandon it once they’ve made substantial money. 

35. Raids

Raids are essentially a type of virtual flash mob. They involve supporters of a crypto running campaigns online to help promote an NFT.

36. Secondary Market

The secondary market is any market that sells NFTs that they didn’t produce. The minter of the NFTs is the primary market, while organizations like Bybit are secondary markets. 

37. Snapshot

Snapshot is a slang term that describes a quick overview of an NFT's history. The snapshot usually contains a list of past owners and the number of times the NFT has been sold.

38. Utility

Utility is the concept that an NFT should also offer some real-world value. People who hold a utility NFT can access real-world rewards, special clubs or other membership benefits.

Collect NFTs on Bybit NFT Marketplace

39. Wen Moon

This slang term references the common crypto meme that prices will soon skyrocket to the moon. "Wen moon" is essentially a misspelled, shortened version of "when are we reaching the moon?" It’s used to mock overly optimistic traders, and dates from 2017 when Bitcoin’s price was literally skyrocketing. 

40. Whales

Whales are individuals who have an oversized ability to put pressure on the NFT market. Due to the large quantity of NFTs they hold, they can affect market prices or override user decisions in DAOs.

The Bottom Line

The above list sums up the top NFT slang to know in this fast-moving industry. NFT and web3 are all about the community, and we appreciate your help updating us with the latest lingo! Let us know more about what we might have missed! 

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