If you want to break into the NFT space, you need to properly understand the language to engage in conversations. The metaverse isn’t only a place to create, buy and sell art. It is more than that. It is a cultural and social movement. As such, a language has been developed and continues to evolve. This edition covers the basic expressions you will be reading across the different platforms. This edition isn’t a catch-all list but rather a starting point for your crypto vocabulary. Also, I will add my personal touch to each of these phrases, so it could mean something a little bit different for some people. 😉

NGMI - Not Gonna Make It: This is for those that don’t believe in crypto or will be too late. They will not win; they won’t reach financial freedom. It can also mean that you are just making a wrong decision.

GMI / Gonna Make It: Well, it is precisely the opposite of NGMI.

GM: Good Morning!

Crypto Maxi / Maxi / Coin X, Y, or Z Maximalist: a maximalist is a fanatic, someone that is going all in. He makes life decisions on an ideal. You will find multiple types of maximalists, from Bitcoin to Ethereum to Doge…

FOMO - Fear Of Missing Out: This is the feeling when you want something and can’t get it fast enough, and you fear you won’t be able to get it. It could be a new NFT, a new collection, a new crypto coin. It drives the market and is present in all the marketing strategies out there. I hate this feeling, to be honest. FOMO caused some of my worst decisions.

FUD - Fear, uncertainty, and doubt: This is what you feel when you are scared about the future outcome of a crypto asset. It could cause panic sales. Be aware - same as with FOMO - people take advantage of FUD to drive the market down and capitalize on those situations.

HODL - Hold on for dear life: Well, I think once you read the complete expression, it is clear. HODL fights FUD and keeps holding an asset because of the belief that in the long term is the right decision.

Holders: A group of people that hold something. See HODL definition :)

When Lambo?: Question to ask your friends, when can you buy a Lambo? When can we buy a Lambo? When are we becoming rich thanks to crypto and NFTs?

PnD - Pump and dump: Also used in the stock market. It is basically to inflate stocks and sell after to earn a profit. PnD is an illegal practice in the stock market, but it is widespread in the crypto world. See Elon Musk tweets 😉

TDM - To the moon/mooning/moon: When an asset is skyrocketing in price.

No coiner: Someone that doesn’t hold crypto coins.

OS - OpenSea: easy.

HEN - Hic et nunc: not that easy - https://www.hicetnunc.xyz

DAO - Decentralized Autonomous Organization: This organization relies on all its members to make decisions, and there isn’t a particular person or group of people making the calls. It is great to make decisions on projects with strangers or big groups of people.

Flippers: These are only looking to flip NFTs for a profit. They don’t care about art, history, or any impact. Nevertheless, they bring liquidity to the market, so they are also important.

Paper Hands: These are flippers, but they are also quick to sell if they smell a problem. They are quick a selling, panicking, and taking profits.

Weak hands: These are traders that lack a strategy or conviction.

Strong hands: These are holders of NFTs or crypto coins that keep assets for a long time, even if there is a significant decline in their value.

BAYC - Bored Ape Yacht Club: One of the most trendy collectible collections.

BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation.

Cross-Chain: Cryptocurrencies like Bitcoin, Etherium, or Tezos live on blockchain technology. Each coin is part of a network that uses one blockchain. Cross-chain refers to the capacity to connect all the individual chains. Sort of interoperability.

Floor: In extensive collections, like the BAYC, the floor is the cheapest NFT you can buy in the market. It is excellent to understand the value of a collection and understand if it is going up, down, or maintaining its value.

Allen Hena @RealAllenHena

I just asked my friend what the floor price was for houses in his neighborhood. I am either talking like it is 2030 or NFTs have taken over my life. 😂

August 19th 2021

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Did I miss any popular slang? Please share them in the comments below…

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Until next time,

- Kaloh