The Web3 & NFT Dictionary

Unloc
6 min readOct 21, 2022

Web3 is rich with jargon & abbreviations. For instance, you will see CAPITALIZED acronyms used regularly like FUD, FOMO, & HODL throughout crypto twitter & in academic blockchain papers.

So, in the spirit of providing resources for all user archetypes in the Solana NFT space, we’re sharing one of the most useful & necessary resources for newcomers, a list of common phrases & terms. And yes, we’ll continue to update this regularly! Let’s begin with one of the most obvious…

What is an NFT:

✅ NFTs (Non-Fungible-Tokens) are verifiable digital property. In many, if not most scenarios, these NFTs are “collectibles” for the modern era. They’re bought and sold over the blockchain and serve as digital evidence of ownership for every specific object. Owning an NFT will usually guarantee you access to a community built around the NFT collection on Discord.

✅ NFTs are securely recorded in an immutable ledger aka the blockchain, the same technology that underpins cryptocurrencies, ensuring that each asset is unique. The nature of being on the blockchain makes it more difficult to change or counterfeit.

✅ In both the real world & The Metaverse, NFTs can be linked to one or more benefits. Having an NFT can grant you access to exclusive events, rewards, online communities, & utilities.

A

Airdrop: A NFT or tokens dropped into your wallet without transacting, usually for free!
Alpha: Fresh, novel, or important information that is unknown to the broader market or people who would use the information to profit in the markets. AMA: “Ask me anything”
Anon: short for “anonymous”. An unspecified community member.
Ape in: aka Aping in means to rush to buy something.
Arb: short for “arbitrage”

B

Blue chip: A project that will supposedly retain high value well into the future. Blue chips are also items, or NFTs, which retain their value or increase in value over longer time horizons.
Bussin: “Doing incredibly well”, originating from hip hop culture, the term is synonymous with “doing really well”.

C

CT: shot for “Crypto Twitter”

D

DD: due diligence. To do research for yourself.
Degen: A Degenerate. At times a term of endearment for die-hard Solana fans, traders, or investors. While sometimes it is also used to refer to people who do not research and take high risks, more often it’s a positive term now. Delist: To cancel the listing of an NFT for sale.
Dev(s): Developers, the people who write the code. Sometimes also used to refer to the people behind a project.
Diamond hands: People who hold an asset (NFT or tokens) through turbulent market conditions, i.e. just because the price of their NFT is down, doesn’t mean they are selling. Diamond hands is also synonymous with “having conviction” in a project, hence you are diamond handed because you don’t feel the need to sell.
DM/PM/DC: “Direct Message/Private Message/Discord”
Dox: “To Dox” or “Be Doxxed”, to be public with your profile, not anonymous. DW: “Don’t Worry”
DYOR: “Do Your Own Research” Often also a battle cry for newcomers.

E

Exit Liquidity aka “Exit Liq”: most often used to describe uneducated traders/investors buying high priced NFTs or tokens from people selling for a profit. “You are a traders sale to exit a trade, usually at a profit”.

F

Flip: Buying NFTs at low prices to sell them quickly for a profit.
Floor Price (FP): The lowest available listed asking price for a collection’s NFTs.
Floor sweeping: The process of buying numerous NFTs off the “floor” of a collection, sometimes over multiple marketplaces. The “floor” is the lowest listed price across markets.
FOMO: “Fear of Missing Out”
FR: “for real” also stylized as “fr”
FUD: “Fear, Uncertainly, Doubt” which is phonetically pronounced, is usually used as a synonym for “negative” or “bad”. FUD is a common term heard around

G

Gas fee: The fee or cost to complete a transaction on a blockchain.
GG: “Good to go” “cool” — appropriated from the world of Gaming.
GM / GN: “Good Morning” & “Good Night”.
GMI: “Gonna Make it”
GOAT: Greatest Of All Time”
GVO: “Good Vibes Only”
GZ: “Congratulations”

H

HODL: “Hold on for dear life” — popularized in Bitcoin circles!

I

IDK: “I don’t know”
IRL: “In Real Life”
IYKYK: “If You Know, You Know”

J

JPEG: A colloquial way to say “NFT”. The original meaning is connected with a standard image format.

K

KOL: short for “Key Opinion Leader”. Often used interchangeably with “influencer”.

L

LFG: “Let’s Fing Go!” LFM:* “Lets F*ckin Move”
LG: “Let’s Go”

M

Metaverse: The Metaverse or a metaverse, is a virtual environment that people can access on the internet that embodies a virtual reality (VR) or even an augmented reality (AR) experience. Ultimately the definition varies, but operating, transacting, & “living” within the virtual space are part of the definitions.
MFer(s) or mfer(s): Term of endearment, yes it means what you think it means, but it’s a good thing. “Hi mfers” has become synonymous with “Hi everyone”.
Mint: This is the genesis event of your NFT coming into existence on the blockchain.

N

NFA: “Not Financial Advice”
NGL: “Not gonna lie”
NGMI: “Not Going To Make It”

O

OG: These are the original supporters of something, whether they are the original supporters of a project, ecosystem, or concept. “Original Gangsters” aka Original Users.

P

P2E: Play-to-earn
P2P: Peer to peer
Paper hands: People who sell during turbulent market conditions and/or people who sell at a loss.
PFP: “Profile Picture”
PnD: “Pump & Dump” refers to a purposeful market manipulation, where groups or individuals coordinate to explicitly pump the price of a token or NFT collection, just to dump it quickly thereafter on retail investors.
Probably nothing: Sarcasm, literally means it’s probably a big deal, if not now, eventually.

R

Raid: A coordinated effort to organically boost a post on Twitter or Instagram for an extended engagement. This is a tool communities use to boost engagement while rewarding their community members for participating in said raids.

S

Scholar: A person who borrows an NFT to play a game without directly owning the NFT, usually organized through “Gaming Guilds” which sponsor players with in-game assets, usually so they can participate in money-making opportunities. Oftentimes “profit sharing” is part of the agreement.
Scholarship: A term for being whitelisted originated from y00ts.
Ser: Sir — often used as a term of endearment
Shiller: A person who is shilling
Shilling: An act of trying to persuade other people to buy something or to make them think something has more value than it actually has.
SZN: “Season”

T

TBA: “To be announced”
TBH: “To be honest”

W

WAGMI: “We Are Going To Make It”
Web 2.0 or Web2: Web2 refers to the version of the internet most of us know today. An internet dominated by companies that provide services in exchange for your personal data. Web3 is driven by the addition of blockchain technology into the web stack.
Web 3.0 or Web3: Many consider Web3 to be the proper embodiment of what the web was meant to be; where users own and control (custody) their own assets in the digital space. Web3 technology is centered around blockchain technology, without blockchain technologies, Web3 doesn’t exist. A key tenet of Web3 companies is striving to be value-additive to their users’ lives. Web3 allows anyone to participate without monetizing their personal data.
Wen: When
Whale: Someone that holds or invests a lot in Crypto/NFTs.
WL: Stands for “Whitelisted” or “Whitelist”. This refers to accessing something exclusive or gated.

X

Y

YF: short for “Yield Farming”.
YOLO: “You only live once” — you can thank Drake for this one.

Z

Are we missing anything? Let us know on Twitter or in Discord — we will may reward you for adding important words or phrases to this list!

About Unloc

Unloc is a fully customizable NFTs-as-collateral loan platform, built on and backed by Solana. With Unloc, borrowers can set their own loan amount, accessing the best loan-to-value ratio (LTV) for their rare NFTs. With multiple sub-offers, personalized LTV ratios, and the ability to choose to accept USDC or SOL, Unloc offers the ultimate NFT borrowing and lending experience. The multiple sub-offers capability opens up opportunities to access liquidity quickly.

UNLOC LINKS 🔗
Website: https://www.unloc.xyz
Twitter: https://twitter.com/UnlocNFT
Discord: https://discord.gg/UnlocNFT
Instagram: https://instragram.com/UnlocNFT
TikTok: https://www.tiktok.com/@unlocnft

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Unloc

Fully customizable NFT-collateralized loans platform 🔑 built on and backed by Solana.