Collins Dictionary has named NFT (short for non-fungible token) as the word of the year. A non-fungible token (NFT) is a digital asset with a unique identifier stored in a database. Digital information, such as a JPEG, GIF, or video, is frequently used to create NFTs. Collectors began paying millions of dollars for NFTs in the early 2020s, causing their value to skyrocket. NFTs function in a similar way to cryptocurrencies such as Bitcoin and Dogecoin.
To begin with, there are several distinct NFT word definitions to learn for beginners to the NFT community. Here are some of them.
NFT Twitter Terminology
- GM
GM means good morning. This is how they greet each other on twitter because they are a friendly, happy optimistic, global community.
- Ser
Ser means sir. It’s a means for people to respectfully introduce themselves or convey a different point of view.
- GMI/WAGMI
GMI/WAGMI means Gonna Make It / We All Gonna Make It. The pleasant future state in which everyone understands JPGs in the same manner.
- FOMO
FOMO means The Fear of Missing Out. They’re buying an NFT because they don’t want to miss out on the next great thing.
- Probably Nothing
Probably nothing means probably something. It’s the polite approach to avoid FOMO, with just enough credible denial.
- Mint
The act of an artist or a collector publishing a work of art on the blockchain for the first time.
- Alpha
The outperformance achieved by the asset manager’s expertise vs. beta (the market’s performance) is referred to as alpha in the investing/hedge fund community. In real life and in crypto, most people’s alpha is actually beta.
- Discord
NFT Twitter’s primary message medium for NFT project groups.
- Gas or Gas Wars
The condition of pandemonium that occurs when everyone on NFT Twitter attempts to mint the same project at the same time, pushing up Ethereum network gas prices.
A lot of NFT Twitter terminologies can be found on @punk6529 account. You may see a full thread below just click Read the full conversation on Twitter.
