What NFT terms do I need to know?

As with any industry, the NFT community has its own common vernacular, terms and ways of speaking. Here is a list of common terminology, phrases and slang that you need to know.

Degen

Short for “degenerate”. An NFT enthusiast who makes risky bets when purchasing NFTs. Can also be used to refer to the NFT community more generally.

Diamond Hands

An NFT holder that intends to hold their asset for a long time. The opposite of Paper Hands.

Drop

The debut of an NFT. For example, an “NFT drop” is when that NFT will first be available to purchase.

Gas

Gas is a fee paid to complete a transaction on Ethereum.

GM

Good morning.

GN

Good night.

HODL

Hold On for Dear Life. Do not sell.

Mint

The creation of an NFT. During an NFT drop, the NFT is minted when it is purchased. NFTs can also be minted before they are listed for sale.

NGMI

Not gonna make it. A pessimistic term used to express the belief that an NFT collection will fall in price, and/or fail.

Paper Hands

An NFT holder that intends to hold their asset for a short time, or that will look to sell immediately in the face of bad news. The opposite of Diamond Hands.

One of One

An NFT which is totally unique, with no duplicates. Commonly found in NFT art and blockchain games.

Open Edition

A type of NFT drop where an NFT is only available for a limited time – but a limitless number of that NFT can be minted during that time period. Commonly found in NFT art.

WAGMI

WAGMI = We’re all gonna make it. An optimistic terms used to express the belief that an NFT collection will rise in price, and/or see long-term success.