NFT Slang Words and Phrases
If you are new to the world of crypto and more specifically NFTs you will likely come across a bunch of words and phrases that will leave you scratching your head going “WTF does that mean?”. If this is you, here is an NFT slang dictionary to help you out.
Acronyms
WAGMI
We are gonna make it
NGMI
Not gonna make it
GM/GN
Good morning/Good night
HODL
Hold on for dear life
DYOR
Do your own research
Nouns
Rug
This is a term used to explain when an NFT collection is basically a scam. An NFT collection launches, people buy the art, and then the next day their social media accounts don’t exist anymore, no Discord, etc. etc. and the team has made off with the money.
Used in a sentence: Damn, those pixel bears I minted yesterday were a rug!
Mint
This is the act of buying an NFT. Projects will announce a date that they will open “minting” and depending on the blockchain you will exchange your crypto like ETH, SOL, etc for one random NFT from the collection.
Alpha
This refers to information that not everyone may have access to.
Used in a sentence: Tell us the Alpha on the collections launching next week.
Floor
The lowest priced NFT of a specific collection.
Used in a sentence: The floor on Degods just hit 100 SOL!
Degen
A crypto degen or degenerate is someone who is deep into the crypto space. It can mean lots of things like they are an avid NFT collector or they speculate with lots of different cryptocurrencies etc.
Paperhand
When you sell your position or NFT early/fast to try and make a quick buck or because you are just scared of losing money.
Used in a sentence: I just paperhanded a picture of a teddy bear for 2x profit. Or, Don’t be a paperhand.
Diamondhand
The opposite of paperhands. Will hold on to their crypto/NFTs for a long time regardless of price movement.
Used in a sentence: I’m diamond handing my ETH cause its only going up from here.
I’ll continuously add to this list as I think of more words and as other slang becomes relevant. If you can think of any I missed, comment and I’ll add them in! In the meantime, hope this helps some of you talk the talk and remember, DYOR, don’t be a paperhand, and watch out for rugs!
