How much do you know about the necessary encryption industry terms in 2022?
Original source: Rising Community Baba
first level title
NFT
NFT was named Word of the Year for 2021 by Collins Dictionary.
NFTs are certificates that prove you own a digital item, which could be the original version of a video, tweet, or meme. They can be anything digital, but a lot of the excitement revolves around digital art.
Metaverse
Metaverse
The word has been on everyone's lips after Facebook rebranded its parent company as Meta to showcase its ambitions in the virtual world.
According to the Oxford English Dictionary, the metaverse is "a virtual reality space in which users can interact with computer-generated environments and other users".
decentralized
decentralized
decentralized finance
decentralized finance
DeFi, short for decentralized finance, is a financial system that does not require banks or centralized intermediaries to execute transactions. DeFi uses smart contracts, which are programs stored on the blockchain that automatically execute actions once agreed-upon conditions are met.
DAO
DAO stands for Decentralized Autonomous Organization. DAOs recently made headlines after crowdfunding DAO-like organization ConstitutionDAO attempted to buy a rare copy of the U.S. Constitution at an auction hosted by Sotheby's.
web3
Web3 is the name of what some say is the next phase of the internet that runs on blockchain technology and is decentralized.
Its purpose is to circumvent tech giants such as Google and Meta, as the platforms and search engines on Web3 will not be owned or operated by large corporations.
secondary title
The "black words" that NFT beginners must understand
White List：Abbreviated as WL, that is, the white list of NFT projects. With the white list, you can buy or cast NFT in advance, and you don’t have to compete with a large number of people when it is officially released.
Discord ：DC for short, a community-based communication software. In recent years, many GameFi and NFT projects have built their own communities on it.
Airdrop：That is, airdrop, your wallet will automatically receive a certain amount of a certain digital asset or new NFT, and you do not need to pay any fees for it. This approach is not only very popular in the digital asset industry, but has also become a popular way for NFT projects to motivate early holders. For example, new works of art can be used as Airdrop.
Mint：Don't subconsciously think that it means "mint", but its verb usage "casting", which was originally used to indicate the behavior of an artist or collector to issue a piece of art on the blockchain.
liver:The behavior of chatting in Discord to upgrade the level to get the whitelist qualification
Opeasea：Abbreviated as OS, currently the most widely used NFT trading platform with the largest trading volume
Floor Price：That is, the floor price, meaning the bottom price, means the lowest asking price of NFT on OpenSea, Larvalabs or other trading platforms.
the scientist:Write powerful code robots to achieve their own goals. Engineers will scan the goods as quickly as possible when the project is on sale.
Gas Fee：That is, the gas fee. In Ethereum, you need to use ETH to pay the handling fee for each transaction. For example, when you transfer encrypted assets from account A to account B, you need to pay Gas Fee to the miners who help you complete the transaction. Gas Fee is also called "miner's fee".
Gas War：When all collectors try to mint the same item at the same time, the ensuing chaos drives up the gas price of the entire Ethereum network. The most difficult problem in computer science, the person who solves it will receive a Nobel Prize.
Burn：Refers to the destruction of NFT. For example, if only 5,000 NFTs are sold for a collection originally composed of 10,000 NFTs, the development team may decide to "burn" the remaining 5,000 NFTs; Mint a new, rarer coin.
DAO：That is, Decentralized Autonomous Organization, which refers to "decentralized autonomous organization". When you hold an NFT in a project such as Head DAO, you, like other holders, gain voting rights and governance rights over the future actions and overall direction of the project. Many NFT projects are building similar structures, thereby strengthening the internal drive of the community and ensuring long-term support.
10k project：Refers to the NFT collection composed of about 10,000 avatars. In 2017,CryptoPunksThe series of collectibles is the first such NFT project. So far, new collectibles are popping up in this type of NFT project. It is worth mentioning that this term only refers to this type of avatar collection, and does not specify the exact number of avatars, so not all NFTs of this type will consist of 10,000 avatars.
Avatar project：The meaning is basically the same as the 10k project, which refers to collections containing thousands of NFT "heads", such as CryptoPunks, Bored Ape Yacht Club, Cool Cats, Gutter Cat Gang, etc.
MetaMask：MM for short,EthereumThe most popular NFT wallet in the ecosystem.
Whale：That is, giant whales, which refer to people who hold large amounts of funds, either have yet to invest, or have already invested in high-priced NFT projects. Therefore, anyone with a thousand E or 200 Bored Apes in their account will be considered a whale. Whale's presence plays a major role in its ability to move the market both ways by buying or selling large numbers of particular collectibles.
FOMO：It means fear of missing out. The full name is Fear of Missing Out. It is similar to worrying about not being able to grab the desired product in Li Jiaqi's live broadcast room and blindly placing an order to see what you see.
Apeing (into something)：This term has nothing to do with Bored Ape Yacht Club. "Ape into something" refers to FOMO (Fear of Missing Out), spending money that one's own account can't support, and/or blindly investing without detailed research on the project.
Generative Art：It means the art of algorithm generation, which is mainly generated in real time when NFT is minted. It can be said to be one of the key innovations in the digital art and collection circles in recent years. Well-known collectibles such as the Bored Ape Yacht Club, Cool Cats, Sup Ducks and Pudgy Penguins all stem from Generative Art.
Roadmap：secondary title
The "black words" that NFT advanced must understand
GM：It is the abbreviation of Good Morning. A good day starts with mutual greetings~
GN：GM corresponds to GN, which is the abbreviation of Good Night. It starts with a greeting and ends a busy day with a greeting. This is probably the beginning and the end.
Fren：In the community, everyone on the other side of the screen can become your Fren, yes, Fren is the abbreviation of the English word Friend.
GMI / WAGMI：The full letters of GMI / WAGMI are 'Gonna Make It' / 'We All Gonna Make It', which means "I want to succeed"/"We all have to succeed", which is also a kind of warm expectation for life.
McDonald’s：As you can see, the word is indeed its literal meaning, which means McDonald's. However, in the black words of the NFT community, there are more profound meanings of "eating dirt" and "moving bricks".
AB：This is not the abbreviation of a star, but the abbreviation of "ArtBlocks", which is the most important NFT generative art platform in the world, with three series of "Curated" (ABC), "Playground" and "Factory".
NGMI：The full name is "Not Going To Make It", which means "certainly no chance/will not succeed", which is a way of self-deprecation because of one's own personal wrong decision.
PFP ：It means "Profile Picture", which mainly refers to personal profile pictures. Common elements include apes, cats, dogs, skeletons, etc.
Szn：The abbreviation of the English word "Season", which means market cycle. Cryptocurrency szns are accelerated IRL cycles, NFT szns are accelerated cryptocurrency cycles, usually 1 Szn may last for 1-4 weeks.
Liquidity：It means "liquidity". For example, you can use ETH to buy JPG, then ETH is a liquid asset. However, the NFT community also likens "liquidity" to an impossible state. For example, any available ETH is immediately converted to JPG, so everyone is in a state of permanent illiquidity.
Alpha：It is actually a term in the investment or hedge fund community itself, as opposed to beta (market performance), which represents the outstanding performance generated by the skills of asset managers.
Looks rare：A kind of ironic slang, which literally means that it looks very rare, but it is ironic that common elements are always used in the NFT community and cannot reflect unique characteristics.
LL：Stands for "Larvalabs," the company behind CryptoPunks, Autoglyphs, and Meebits.
1:1 Art：Meaning that each work is unique (1 of 1), this can be thought of with PFP and generative art collection contracts, which typically range from 200 to 10,000 pieces.
This is the way：It's just the way it should be, a form of praise for positive behavior.
IRL：Abbreviation for "In Real Life", that is, in real life.
Up Only：The term was originally coined by @CryptoCobain to describe this year's Ethereum, which roughly means "unilateral rise".
Right Click Save As：Like the Looks care introduced earlier, it is full of irony, and the original meaning is "right-click to save", which is used to describe the "trap" behavior that some people who have just entered the NFT market often do-showing their "technical ability" to download images from web browsers .
1/1 of X：Used to describe someone owning several in a set of NFT collections, Punks are 1/1 of 10,000. Fidenzas are 1/1 of 999.
OG：secondary title
Industry term/use discourse
1. Mint
"Casting" means. The act of an artist or collector initially issuing an artwork on the blockchain.
2. Liquidity
"Liquidity" means. But this is an impossible state because any available ETH is instantly converted to JPG, so everyone is in a state of permanent illiquidity.
3. Alpha
Alpha itself is actually a term in the investment or hedge fund community. As opposed to beta (market performance), it represents the outstanding performance generated through the skills of asset managers.
4. Discord
A commonly used information dissemination platform in the NFT community.
Discord features: useful, overcrowded, and mixed.
5. HEN
An art marketplace for NFTs issued on the Tezo chain, with lots of fun but cheap NFTs and a horrendous UI that is absolutely infuriating to use!
6. Roadmap
"Roadmap" means. NFT projects (usually PFP) plan a series of activities to add value to the community. A roadmap is usually required in a PFP project, but it is insulting to require a roadmap in an art project. Be careful not to be surprised Violation of Securities Laws.
7. Derivatives
"derivative" means. Refers to the new project derived from the original NFT project, which was first popular in the Punk series. Derivatives can enhance the value of the original brand, and you should remain objective when judging this type of project.
8. Burn
"Destroy" means. Earn other rewards by sending an NFT to an address and losing control of it.
9. Stake
"Pledge" means. The same concept as in the Defi project, lock NFT in the smart contract of the exchange to get other rewards.
10. Delist
"Off the shelf" means. Delist your NFT from Opensea (no longer available for sale) as the market's expected value for the NFT has changed as the price is rising rapidly leading to the possibility of the NFT being sold.
11. JPGs
JPGs means our NFTs, which may be JPGs, GIFs, PNGs, audio, video or computer games.
12. Meatspace
The meaning of "physical space" is also the meaning of the real world.
13. Shilling
It means constantly pushing others to buy an NFT and getting annoying, or trying to generate FOMO in the community.
14. Aped
The usage from the cryptocurrency community on twitter means holding a larger position in an NFT in one's own investment portfolio. Apes has a long history in the NFT world, such as the first 24 ape-shaped CryptoPunks, and the later Bored Ape Yacht Club.
15. On-Chain/Off-Chain
The meaning of "on-chain" and "off-chain". Refers to whether the relevant steps in any given process occur on-chain or off-chain before being executed on the blockchain.
16. Looks rare
It means "rare looking". In the NFT universe, rarity usually leads to an increase in value, but this is an ironic use.
17. Up Only
It means "only going up". Initially popularized in the ETH market at the beginning of this year, this is where everyone wants the NFT price to go. Down Only (will only fall) is of course also a usage, but it is not as popular.
18. Floor Price
It means the "lowest asking price" of NFT on OpenSea, Larvalabs or other trading platforms, and can refer to the entire series or a single collection in the series.
19. Schelling Point
"Focus" means. People think it is suitable for NFT andBTCThe game theory term, the original concept is "the focus of everyone's expectation is the choice that others expect him to expect to be expected to make", the NFT project considered to be the focus usually has the nature of value storage, and the price will continue to rise .
20. Your Bags
"Your backpack" means the NFT wallet address.
21. Buying on secondary
"Buy in the secondary market" means. When you fail to mint an NFT, you have to buy it on a secondary market like OpenSea.
22. Sweep the Floor
The meaning of "sweeping the floor" means to search all the NFTs with the lowest price in an NFT project, but then you usually find that the backpack is too heavy.
23. Its Money Laundering
"Money laundering" means. In the NFT community, it is extended that the price is not real.
24. Right Click Save As
secondary title
Noun/Phrase Abbreviations
1. LL
Acronym for Larvalabs. Larvalabs has created many well-known NFT projects, such as CryptoPunks, Autoglyphs and Meebits.
Usage: LL rarely tweets.
2. AB
Acronym for ArtBlocks. The world's most important platform for generating NFT artwork, including three series Curated (ABC), Playground and Factory.
Usage: His ABC collection is super hot on the market!
3. PFP
The abbreviation of Profile picture, which means "personal avatar". Mostly refers to the avatar used on twitter or Discord.
Usage: That golden snail PFP is so cool!
4. Szn
Szn means Season, the meaning of "season", and also represents the market cycle. The market cycle of cryptocurrencies is faster than the market cycle of the real world, and the market cycle of NFT is even faster than that of cryptocurrencies, usually only lasting 1 to 4 weeks.
5. IRL
The abbreviation of In real life means "real world". That is, the world outside of OpenSea, Twitter, and Discord.
6. DAO
The abbreviation of Decentralized Autonomous Organization, which means "decentralized autonomous organization". Unlimited potential, but watch out for SEC regulatory issues.
Usage: I'm launching my Cap T Nerd Glasses DAO next week
7. Rug
The abbreviation of Rug pull, originally meant to pull the carpet, extended to mean the common absconding events in the encryption industry.
8. Degen
The abbreviation of Degenerate, in the NFT world, means taking unreasonable and extremely high transaction risks.
Usage: All non-Degen transactions will be penalized at Up Only 1:1 szn. Few. LFG. NFA. DYOR.
9. NFA
The abbreviation of Not Financial Advice, which means "non-financial advice". Similar to the usage of DYOR. Again, someone shares an idea, but it's up to you to decide if it's right for you.
Usage: I Aped Golden Snail, NFA.
10. OG
The abbreviation of Original gangster, the original meaning is "the original gangster". In the world of NFT, it refers to veterans who entered the circle very early and gained respect.
Usage: He is an OG CryptoPunks holder.
11. Noob/Pleb
The abbreviation of Newbie and Plebeian, meaning "vegetable chicken" and "civilian". Contrary to the OG, if you want to use these terms politely, it's best to apply them only to yourself.
Usage: 6529 What a Noob, I can't believe I forgot to cast the Golden Snail.
12. FUD
Fear,An abbreviation for Uncertainty and Doubt, an abbreviation for "fear, unknown and doubt". Used in the NFT world to complain that the price is too low and price predictions need to be readjusted.
Usage: Saying that Fidenzas will have a minimum price of 2500 ETH in 2025 is simply FUD.
13. GOAT
Abbreviation for Greatest of All Time, meaning "the greatest ever". Used purely to show respect and respect, usually with a goat.
secondary title
Greetings
1. GM
The abbreviation of Good Morning, meaning "good morning".
2. GN
The abbreviation of Good Night, meaning "good night".
3. Ser
Ser means Sir, meaning "Your Excellency".
4. Mam
Abbreviation of Ma'am, meaning "Ms."
5. Fren
secondary title
dialogue
1. GMI / WAGMI
GMI is the abbreviation of Gonna Make It, which means "will succeed", and WAGMI is the abbreviation of We All Gonna Make It, which means "we will all succeed".
Usage: The Museum of Modern Art in New York just bought a CryptoPunk, WAGMI!
2. NGMI
An abbreviation for Not Going To Make It, which means "will not succeed". Describe your bad decision in a self-deprecating way.
Usage: Buy a Fidenza, NGMI with 5 ETH.
3. FOMO
The acronym for The Fear of Missing Out, meaning "fear of missing out". When you buy an NFT just because you are afraid of missing the next big market move.
Usage: I bought an NFT of a golden snail because of FOMO, but I don't know why.
4. Cope
The opposite of FOMO, expressing regret for doing something more. Because I didn’t buy it as soon as possible before the price rose, I regretted it and didn’t want to buy NFT again.
usage:
A: I know that the Golden Snail series NFT has risen 50 times and will be auctioned at Christie's auction, but I don't like this launch, so I didn't participate.
B: Well, die of laughter, Cope.
5. LFG
The abbreviation of Let's fucking go, which means "the horse's rushing". Used when you are excited about something. Recommended for use with the rocket emoji.
Usage: Newly minted Golden Snail NFT! LFG
6. DYOR
The abbreviation of Do Your Own Research means "do the research you should do". A disclaimer, not responsible for other people's opinions on NFT.
7. OK Boomer
It can be understood as, "Okay, old man." Meaning. Say that to anyone over the age of 22 who disagrees.
usage:
A: The golden snail is not really a work of art.
B：OK Boomer, NGMI.
8. Seems legit
Seems legitimate Another way of saying that the project looks serious and may have good prospects. In addition to the literal meaning, it also sometimes has an ironic meaning.
usage:
A: I will be launching Baby Instant Golden Snails on Solana.
B：Seems legit.
9. Wen moon?
A usage from the cryptocurrency community on twitter, meaning "When moon". Ask when the price will To the moon (price skyrocketing), but it is mostly used ironically in the NFT community.
usage:
A: 6529 x Golden Snail joint model.
B：Wen moon, ser？
10. Valhalla
Means "Valhalla". The paradise in Norse mythology is also the paradise in the NFT world. There, dead Vikings party with people who own precious NFTs.
Usage: 6529 Either board Valhalla, or go to McDonald's to work.
11. McDonald’s
The well-known McDonald's. It means that if you can't get along in the NFT world, you can go to McDonald's to work.
