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The Top NFT Acronyms & Slang to Know Right Now
The Top NFT Acronyms & Slang to Know Right Now

The Top NFT Acronyms & Slang to Know Right Now

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The Top NFT Acronyms & Slang to Know Right Now
A comprehensive list of the top terms, acronyms and NFT slang that you need to know when entering the web3 space.

We know it’s hard out there in those Twitter streets when you’re trying to break into the web3 world. While we can’t prevent a bunch of degens from criticizing you or your first time getting rugged, we can give you as much prep so you can talk the talk… or at least understand it.

Here’s a list of the top NFT terms and slang to know if you’re immersing yourself in web3.

Top NFT Terms to know for beginners

GM - Good morning. A positive, encouraging sentiment used in the web3 space that shares the human side of daily interactions within communities.

Airdrop- a distribution of cryptocurrency, tokens, or NFTs to a web3 wallet address. This is usually used as a marketing tool to build awareness around a project or brand.

Bullish - an upward or positive trend in the market. Also, used to show an aggressively positive attitude toward something one believes in.

In a sentence: “Bullish for my 9 year old to buy her first NFT with all of her birthday money this year.”

Bearish - a downward or negative market trend.

CID- weird tech term formerly known as hash, the content identifier attached to each NFT.

DAO- decentralized autonomous organization; a community-led entity with no central authority.

Degen- Short for degenerative, it refers to people who often make risky & costly decisions.

DYOR- Do your own research!

Floor price - the lowest price of an NFT within a certain category or collection.

FUD - Fear, uncertainty, doubt.

Gas fees -  the fees associated with buying and selling NFTs to offset the computing energy of some blockchains, such as Ethereum.

HODL -  Literally means to “hold” but was once misspelled and is now a meme. Also known as to “hold on (for) dear life”.

Mint - the process of publishing a digital asset to a blockchain

P2E -  play to earn, a genre of games that lets users earn crypto or digital assets through gameplay.

PFP - Stands for profile picture. A common type of NFT collection put out by artists.

POAP - Proof of Attendance Protocol; a type of NFT given out to validate the attendance of a particular event.

Probably nothing - a sarcastic saying used when a project or something is actually worth watching.

Example: “Wait, a massive country just started buying crypto & investing in a metaverse? Probably nothing.”

Rugged - comes from the saying “get the rug pulled out from under you”, to get rugged is essentially to get scammed.

Shill - the act of marketing or advertising one’s project, brand, or crypto asset.

Example: “There’s a place and time to shill your NFTs, but it’s never in the #GM channel.”

Smart contract - a self-executing contract with the terms of agreement between the buyer and seller being directly written into lines of code.

WAGMI/GMI - A fun, encouraging acronym that stands for “We’re all gonna make it!”

Whale - someone who’s had massive success in the NFT space, either as a creator or collector.

Web3 - the third version of the internet.

Did you find this helpful? If so, share this blog with your friends or use this fun infographic to share on Twitter, Discord, or wherever your community likes to hang.

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H2 - Enabling Widespread Adoption for Music NFTs

paragraph — The first thing the music industry needs is more exposure. For artists, listeners and yeah, the labels. Even with the use cases mentioned above, the majority of the music industry still sees NFTs as a novelty rather than a legitimate way to run a business. We see a future where the experience is built and monetized on the blockchain, with labels taking part of the experience, as well.

Second, there needs to be a big jump in user experience. Listeners know what to expect with Spotify and Apple Music: a smooth, intuitive experience that lets them listen to Lil Nas X with just a few clicks. Web3 platforms aren’t quite there. Music NFTs and related premium content require extra steps that most people don’t yet have an appetite for.

H3 - How Could Music NFTs Save Artists?

paragraph — Musician Daniel Allan spent months building a relationship with the NFT community and raised 50 ETH to fund his new album, Overstimulated. Companies like Audius and artists like Vérité's, who raised $90,000 in an NFT launch, are at the forefront of exploring new ways to get paid. Avenged Sevenfold launched an NFT collection called "Deathbats Club" with 10,000 items that grants holders access to benefits such as meet and greets at shows, lifetime free tickets, limited edition merchandise, and more.

Photo of ETHDenver 2022 with Pinata employees
This can also be styled!! Image caption.

H4 - Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

H5 — How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

LINK — This is how a link looks like. Please provide normal & hover state (if different than this)

  • This will be bullet points
  • Numbered list is the same but with numbers
  • It has a margin-left applied

QUOTE — Everyone is obsessed with making money and seeking alpha, which does a disservice to what [NFTs] can actually do. We have been instructing many bands that NFTs are a ticket for access to an exclusive club.” - M. Shadows, Avenged Sevenfold’s lead singer.

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