NFTs, Investing, Tech

Terminology of the NFT Space — Aping, Mooning, Rugging, Paperhands, Diamondhands, LFG

A handy glossary for newbies!

Photo by Nick Morrison on Unsplash

New to the NFT space? Don’t worry; you’re not alone. But, you’ll definitely start reading and hearing terms that you may not have encountered before. Some are particular to the NFT world and others are imported from other related industries. Let’s look at some and get you up to speed!

• “1/1” — A “one of one” or “1/1” is a unique piece of art. A “1/1” can be a standalone NFT (e.g., a unique creation by a digital artist), or it can also be a super rare 1/1 inserted into a larger generative set. (Although, technically, all items within a larger generative set are generally also unique. We just don’t usually call normal members of generative sets 1/1s.)
• “Ape” — This term, often used as a verb, is particular to the NFT world. It refers to the Bored Ape Yacht Club, one of the blue chip OG generative NFT sets (arguably the gold standard among NFT drops, with top-quality, whimsical generative art and insanely high values per NFT). People use the term in different ways. As a verb — to ape, or to ape into — it can mean “to buy,” “to buy in early,” “to rise in value.” But, it’s flexible, too. One might say, “Wow, that’s gonna be an ape-level drop!”