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Do you consider yourself an NFT veteran? So, how many of these NFT slangs are you familiar with? Find out now. 

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.

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. 

 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.

 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. 

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

"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.

." These terms are commonly used to indicate that the price of digital assets or collectibles has reached an ATH or ATH price.

 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 

, such as CryptoPunks or Bored Ape Yacht Club.

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.

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.

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

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.

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.

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.

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. 

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.

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

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.

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.

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. 

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.

“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.

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.

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. 

 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.

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. 

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.

 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. 

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

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. 

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.

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

NFT Slang: Get Updated With NFT Meanings & Terms

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