WTF are they talking about? An acronym guide to NFTs + web3

web3 is mired in a dizzying array of acronyms that make diving an uphill battle at first. I’m sure I won’t be able to list them all in one go but I opted to publish and iterate vs trying to check them all of the list. Hopefully this helps you become more familiar with this exciting, dynamic space :)

Alpha: Intelligence, information, inside scoops, knowledge that might give you a leg up in crypto/NFTs/etc.

Cold Wallet: A wallet that stores assets. It is not connected to the internet which adds an additional layer of security. Ledger is a popular choice (http://ledger.refr.cc/patrick6)— this is a referral link to Ledger (if you buy one I get a tiny discount on future purchases I make from them)

DAO: Decentralized autonomous organization

Defi: Decentralized finance; financial entities that operate using smart contracts on blockchains that do not rely on central financial intermediaries (like banks)

Diamond Hands: Used to describe holding onto assets for the longer term even if there is pressure to sell

DYOR: Do your own research (I can’t impress how important this is in this space. Double check everything. Look for red flags. Trust your instincts. This space is moving so fast and I know you don’t want to miss anything…