NFT Terms-Part 2
4 min readApr 26, 2022
- Cappin or capping — Lie and fake slang. This is in contrast to no cap, which means “no lie.”
- Coinbase — US cryptocurrency exchanges listed on Nasdaq. Coinbase Wallet is one of Coinbase’s products that allows users to store encryption and NFTs using Chrome extensions or app hot wallets.
- Cold wallet — Also known as a hardware wallet or cold storage. This is a physical device for storing cryptocurrencies and NFTs offline. They are not connected to the internet, so they are at low risk of being at risk.
- Collection — A series of NFTs under a common theme as part of NFT drops or auction sales on marketplaces such as OpenSea and Rarible.
- Collector — Someone who buys an NFT to build an NFT collection, join the NFT community, or make a profit for speculative purposes.
- Creators — NFT creators are the creators of NFT ideas, visions, and often art assets (JPEGs, audio files, video files, etc.).
- Crypto bags — It refers to the amount of cryptocurrency that someone holds. In his coin pocket.
- Cryptocurrency — Cryptographically protected native coins (or protocol coins) exchanged within a peer-to-peer economic system. Example: Bitcoin for Bitcoin blockchain (BTC), Ethereum for Ethereum blockchain (ETH), etc.
- Crypto community — A community of specific crypto or NFT projects. The NFT community uses Twitter and Discord as their primary social media for hanging out.
- Crypto exchange — A place where anyone can buy, sell or trade cryptocurrencies and tokens.
- DAO — Abbreviation for Decentralized Autonomous Organization. When an NFT project is structured like a DAO, all NFT holders are given voting rights, control of future actions, and the direction and vision of the NFT project. Many NFT projects are also organized as DAOs, which are community-led projects.
- Delist — Stop listing NFTs sold in secondary markets like Opensea. The NFT Marketplace may exclude NFTs that violate the rules. Alternatively, NFT owners choose to exclude NFTs due to price spikes (as long as they have enough money to cover gas prices) to avoid buying and selling NFTs at higher prices. I can do it.
- Diamond hands — A person who believes and holds a cryptocurrency or NFT regardless of fluctuations in the cryptocurrency or NFT market. The
- Discord — chat app is frequently used by the crypto and NFT communities for knowledge sharing and shilling.
- DLT — An acronym for distributed ledger technology. This is a protocol that allows distributed databases to function securely with encryption. This technical infrastructure eliminates the need for a central authority to control network operations and abuses.
- Doxxed / Doxed — The ID of a member, developer, or author of the NFT team is public, known, or verifiable. In the NFT market, it is usually a sign of trust and transparency that NFT collectors expose their NFT teams to prevent them from being scammed by anonymous creators.
- Drop — Release of NFT (single or collection) in the NFT market.
- DYOR — An acronym for Do Your Own Research. A common phrase used in crypto or NFT communities to deny responsibility for financial / strategic advice that someone provides to the community and to avoid being called by NFTs or others in the crypto community.
- ETH — Also known as Ethereum, the currency symbol of the native cryptocurrency of the Ethereum blockchain.
- Ethereum — A network protocol that allows users to create and run smart contracts on a distributed network.
- FCFS — An acronym for First Come, First Served. Strategies commonly used in NFT collections decline when demand exceeds supply.
- Few — Abbreviation for “understand a few”. It’s similar to the irony behind the phrase “probably nothing”. Like X Person bought a popular NFT because he understands its long-term value.
- Flex — Slang to show off. In the crypto community, it’s a Lamborghini or a Gold Rolex.
- Flip — Make a profit by buying and selling cryptocurrencies or NFTs quickly.
- Flippening — A slang term coined in 2017 when the market capitalization of Ethereum exceeded the market capitalization of Bitcoin.
- Floor Price — This means the lowest asking price for an NFT collection or a subset of collections in a secondary market like OpenSea.
- Floor Sweep — An NFT collector or investor purchases all of the NFTs listed at the bottom of the secondary NFT marketplace.
- FOMO — An acronym for Fear of Missing Out. Buy crypto or NFT for fear of missing the next big thing.
- FOMO-in — Buy crypto or NFT regardless of whether you are at the top of the market for FOMO.
- FR — Abbreviation for For Real.
- Fren — It means friends and means how people in the NFT community call each other in a loving and positive way.
- Foundation — An invitation-only NFT marketplace specializing in NFT art.
- Fungible — Means X can be exchanged for another X and still have the same value. Example: My dollar = your dollar. My one ether = your one ether. My casino chips = your casino chips. In Ethereum, substitutable tokens are defined by the ERC20 standard.
- FUD — An acronym for Fear Uncertainty Doubt. It can be a) when someone spreads negative and sometimes false news to undermine the credibility of a particular crypto or NFT project. Or b) Overall negative sentiment towards the future of NFT / crypto projects or markets, especially when passing through the bear market.
- Fudder — Those who have FUD or are involved in FUD through NFT projects.
- Fudding your own bags — When NFT collectors or crypto investors talk negatively about NFTs or crypto projects, they have invested or are involved. Usually negative comments about the team or vision.
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