One thing that is great about joining the NFT Community/Lifestyle/Movement at this particular point in time (10/2021 at the writing of this article) is that basically, everyone is still kind of a noob.
So you don’t really have to worry about not knowing the cool new lingo so much because it’s still be adopted and made up as the community grows.
Plus, the people in the NFT world are actually really nice.
It’s kind of confusing at first.
I can remember opening Twitter and wanting to return back to the real world right away because it was all bad news and nasty people.
But it’s a whole different world when your feed is full of NFT people. They are actually kind and funny and helpful.
So while it’s fun to learn these creative new words, don’t be intimidated by them either.They are spoken by your future frens*.
(*we’ll learn this one in a minute).
13 Phrases You’ll See Over & Over on NFT Twitter & Discord
We’ll start off with the essential and simple gm. Stands for Good Morning.
It’s always lowercase, never GM. Casual and denotes that you are in a place where you feel comfortable.
In my mind, when I see a “gm” I imagine a slight chin nod of acknowledgement along with it.
Following up on gm is of course, gn for good night.
What’s great about gm and gn is first of all the community is global so you can see gm and gn at any hour of your day because of time zones.
But I also love to see a gn from someone it’s 6am their time. It’s a different world where people are not so ruled by normal schedules.
You’ll see there’s no particular order here, but I did choose gmi to be third after the all important gm/gn because it is my personal favorite acronym that I’ve learned since joining the NFT world.
It stands for Gonna Make It! or We All Gonna Make It. It’s to celebrate a win like minting a rare NFT from a drop that sold out in 30 seconds.
If you weren’t sure before, you feel sure now that you are gonna make it because it suddenly it all seems so possible.
The flip side of wagmi is ngmi.
That’s “Not Gonna Make It”. It’s used best when referring to someone who is showing a bit of a lack of faith.
You listed your NFT because the floor dropped a few SOL for a day? ngmi.
Drop is used as a verb and a noun in the NFT world. The “Solstead drop is coming up” refers to the date the NFTs for that project can be minted.
Or you could use it like, “When are you going to drop your own NFT project?”
Minting refers to the process of getting digital art on the blockchain. (Oh I guess we have to do blockchain next..)
For the non-technical of us, what is important to understand is that minting is the first time one or a series of NFTs is available to be purchased.
The blockchain is basically a ledger. It’s a record of all of the transactions that happen and it is basically unhackable and infallible.
There are two that you’ll hear about most when it comes to NFTs, Ethereum and Solana.
It holds the proof that YOU own the token that is represented by the cute Bear you bought with some SOL. It’s the part that the “can’t you just right-click-save?” people don’t understand.
Wen is when and I don’t know why that was not completely obvious to me the first time I saw it, but it wasn’t.
It’s usually used as a question: Wen? or Wen drop?
It’s a chant you might see from a very excited Discord community on or just before minting day.
Fren is friend. I don’t know why it is comforting to see or hear, but it is.
It’s like all the hard sounds are taken out and left behind a cozy little term of endearment.
Rugged is bad.
It means an NFT project was minted and then the creators split.
They pulled the rug out from under the people that minted NFTs from their project in good faith and have no intention of doing any of the things they promised that would help build a valuable NFT community.
Basically, if you’ve been rugged, the NFT you minted is practically worthless.
Fiat is the money you use when you go to Target. It’s the money you have that is backed by your government. It’s the opposite of crypto.
It’s also used to describe anything outside of the realm of your crypto life. As in, “I love my crypto Twitter account. I never look at my Fiat Twitter anymore”.
If you have liquidity then you have some SOL or ETH to buy the NFT that you want.
If you are illiquid, you’ve spent all your SOL or ETH (guess we’ll talk about SOL and ETH next) to buy NFTs. So your wallet is probably full of art, but if you wanted to buy more, you’re going to make a move. Either sell some NFT’s or get yourself more SOL or ETH.
#9 SOL, ETH
SOL is the currency that you’ll need to purchase NFTs that are on the Solana blockchain.
ETH is the currency that you’ll need to purchase NFTs on the Ethereum blockchain.
There are others, too like ADA for the Cardano blockchain, but SOL and ETH are the big players at the moment.
#10 Right Click Save As
I’ve found this to be used most often to describe the people who do not understand NFTs and Blockchain technology.
As in, “She’s a “right click save as-er” (doesn’t understand the difference between a non-fungible token and a picture you can save to your desktop.
#11 Floor price
Floor price is generally used to define the lowest price offered on a Marketplace for a particular NFT. So for instance, “The floor for Solsteads right now is 50 SOL”.
That’s the cheapest one you can buy right now.
You’ll often hear, “Solsteads minted at 2 SOL and now the floor is 50!”.
Let’s Fucking Go. To be honest this isn’t an NFT thing. I think it started with Tom Brady and, well, I’m not a fan so you won’t catch me saying this one.
But you will see statements like, “Solsteads floor is at 50 SOL! LFG!!!!!”
#13 1/1 of 10,000
There are NFT’s that are 1:1. Just one unique piece.
But, then, there are collections of NFTs at are 1/1 of 10,000. That’s 10,000 in one cohesive collection where each in the collection is completely unique.
Now You Can Speak the Language
Hop into a Discord or start tweeting. The NFT community will welcome you!