1. Know Your Acronyms!

@punk6529

Here you will learn the basic terms we use in the NFT space which will help you understand the meaning behind every word.

1. GM
GM means "good morning". We say good morning to each other because we are a friendly happy optimistic global community and it is nice to say good morning to your friends as you start your day.

2.GN
GN means "good night". We say good night to each other because we are a friendly happy optimistic global community and it is nice to say good night to your friends as you end your day (20 hours after you say gm and 4 hours before you say gm again).

3. Ser
Ser means "sir". It is a way to respectfully introduce oneself or perhaps share an alternative point of view.

4. Fren
Fren means "friend" Because we are all friends here on a happy mission quest together.

5. GMI/WAGMI
"Gonna Make It" / "We All Gonna Make It".

The happy future state when everyone understands our JPGs the way we do. "he just bought a Starboy. WAGMI".

6. NGMI
"Not Going To Make It".

Best used in a self-deprecating way about one's own personal bad decisions "Sold a Starboy and missed out on their royalties. NGMI".

7. AB
ArtBlocks, the most important platform for generative art in the world, that has three collections: "Curated" (ABC), "Playground" and "Factory".

8. Generative Art
Art that is algorithmically generated, ideally in real-time when minted. "She is a bright new star in gen art"

9. PFP
Profile Picture.

10. Looks Rare
Rarity is often a driver of value in this space. Used ironically.

11 FOMO
The Fear of Missing Out.

Buying an NFT because you are afraid of missing out on the next big thing. "I FOMOed into a NFT and I am not sure why."

12. 1:1 Art
Art where each piece is unique (1 of 1).

This can be thought in contract to PFP and Generative Art collections that range from 200 to 10,000 pieces typically. "1:1 szn is coming soon"

13. Szn
Szn means season which means market cycle.

Crypto szns are accelerated IRL seasons. NFT szns are accelerated crypto seasons. Might last as little as 1-4 weeks.

14. IRL
IRL means In Real Life, otherwise known as the world beyond marketplaces, Twitter and Discord. It is not recommended to spend too much time there. IRL does not have sufficiently good JPGs.

15. Probably Nothing
"Probably nothing" means "probably something".

16. Up Only
It is everyone's desired direction of NFT prices, certainly preferable to the less popular alternative of "Down Only"

17. Liquidity
Available ADA to buy JPGs.

This is an impossible state of being. Any available ADA converts into JPGs immediately so everyone is in a state of perpetual illiquidity.

18. Mint
The act of initially issuing a piece of art on the blockchain, either by the artist or the collector. "Wow, beautiful picture. Mint it!"

19. Right Click Save As
Every non-NFT person's first "gotcha" move when learning about NFTs - demonstrating their vast technical capacity to download an image from a web browser.

20. This is the way
A way to commend socially positive behaviour "She never shilled her project" "This is the way".

21. Floor Price
The lowest available asking price on Secondary Markets, either for a collection as a whole or for a subset of the collection.

22. OG
OG means original gangster. First become popular through 1990s hiphop, the super-Lindy term just flows through community after community. It means the folks who were here early and earned respect.

23. Its money laundering
This is meant to suggest that NFT prices are not real because people are using NFTs to money launder. The exact mechanism of how this works in highly liquid markets is never described. This is a specific form of IRL and crypto Twitter coping about NFTs

24. JPGs
JPGs refers to our NFTs that might be JPGs or GIFs or PNGs or audio files or video files or computer games. It is reclaiming a cope/insult for the community given many normies think "but you are just buying JPGs, are you mad?" "They will never steal our JPGs"

25. Delist
Delist your NFTs from marketplaces (no longer offer them for sale) because prices are rising rapidly and they might get sold and market expectations of their value has changed.

26. Discord
A messaging platform heavily used by NFT Twitter for NFT project communities. Discord is all of: a) useful b) overwhelming c) full of scammers d) will eat all your CPU cycles e) default set to annoy everyone within miles with notification beeps

27. Roadmap
The set of activities an NFT project (usually PFP) will plan to do to add value to a community. Roadmaps are viewed as desirable in PFP projects and insulting to ask for in art projects. Needs some care to not accidentally violate securities laws.

28. LFG
Let's F***ing Go. Used when you are excited about something. Best used with rocket emojis.

29. Ded
Ded is short for dead. Also, see "deceased" "I sold my Clay for 80ADA now its worth 1,000ADA. Ded! ."

30. Rug
Rug is short for rug pulled.

It came from Crypto Twitter and particularly DeFi where a lot of projects pumped and dumped on retail. Not 100% sure if rugs as a concept make sense in the context of JPGs, but it is used for devs who run away from their project.

31. IYKYK
If You Know, You Know This is, like "few", a polite form of FOMO in most, but not all usages.

32. Noob/Pleb
Newbie and Plebian. The opposite of OG.

The polite way to use these terms is only about yourself.

33. Seems legit
"Seems legitimate" in other words, the project looks serious and potentially with good prospects. Can be used straight or ironically about a project's prospects

34. Meatspace
Another term for "IRL".

That vaguely annoying reality where the laws of physics and biology apply. Not highly recommended. "Meatspace issues today. Car tire blew out"

35. Buying on secondary
When you fail to mint a project and have to buy on CNFT.IO etc.

Comes from finance world - primary stock sales are directly from company; secondary is what you trade day to day. Almost all action is secondary. "Missed the mint, gotta buy on secondary"

36. Wen Moon
This one comes from CryptoTwitter and refers to the price of your NFT ascending to the moon which is very far away Less popular in NFT Twitter because we are a bit less financial over here. Used more ironically.

37. DYOR
DYOR means Do Your Own Research.

The person telling you this is (correctly) disclaiming responsibility re the question of if an NFT is right or wrong for you.

38. Aped
This one has come straight from Crypto Twitter. It means "take on a large position relative to one's own portfolio size

39. NFA
NFA means "Not Financial Advice".

It is related to DYOR. Again, someone shares an idea, but your job to decide if it is for you.

40. Rugpull
Is when a creator abandons the project, shuts down all socials and website.