GM stands for "Good Morning." 60 terms that you must know in the cryptocurrency community, guaranteed to make you a master of "NFT lingo"!

The NFT craze is sweeping the world through the power of the internet. It seems like more and more people around us are asking, what exactly is an NFT? How can one purchase NFTs? Recently, renowned NFT collector 6529 @punk6529 posted a series of tweets on Twitter, providing detailed explanations of commonly used terms and scenarios in the NFT community. Let's learn about them one by one, so we can navigate this innovative field with ease!

Terminology and Usage

Without further ado, let's see what 6529 has explained to us about these magical terms! The following content may be a bit complex, so please handle with care. Note: In the examples, "Golden Snail" and "Silver Snail" terms are used, which can be considered as aliases for certain NFTs.

1. GM

Short for Good Morning, meaning "morning." We greet each other good morning because we are a friendly, happy, and optimistic global community. It's quite delightful to start a beautiful day by saying good morning to friends:)

2. GN

I bet everyone guessed it, GN stands for Good Night, meaning "night." We bid each other good night because we are a friendly, happy, and optimistic global community. It's quite delightful to end a beautiful day by saying good night to friends:)

3. Ser

Ser means Sir, meaning "sir." This is a respectful way to introduce someone or share another perspective.

4. Mam

Mam is the abbreviation for Ma'am, meaning "madam." Similar concept to Ser.

Usage: Mam, I prefer my golden snail.

5. Fren

Fren means Friend, meaning "friend." In the community, everyone is a friend, happily pursuing a mission together.

6. GMI / WAGMI

GMI stands for Gonna Make It, meaning "will succeed," WAGMI stands for We All Gonna Make It, meaning "we will all succeed." When everyone understands the happiness state presented when buying these JPG files.

Usage: The Museum of Modern Art in New York just bought a CryptoPunk, WAGMI!

7. NGMI

Not Going To Make It, meaning "will not succeed." Describing one's own wrong decisions in a self-deprecating manner.

Usage: Sold a Fidenza for 5 ETH, NGMI.

Note: Fidenza is a series of artworks launched by Art Block, currently priced at a minimum of 170 ETH on OpenSea.

8. McDonald’s

The well-known McDonald's. It means if you can't make it in the NFT world, you can always work at McDonald's.

Usage: Sold a Fidenza for 5 ETH, getting ready to apply at McDonald's.

9. LL

Abbreviation for Larvalabs. Larvalabs has created many well-known NFT projects like CryptoPunks, Autoglyphs, and Meebits.

Usage: LL rarely tweets.

10. AB

Abbreviation for ArtBlocks. The most important platform for generating NFT artworks in the world, including three series: Curated ABC, Playground, and Factory.

Usage: His ABC collection is super hot in the market!

11. Generative Art

Refers to art generated through algorithms, ideally created in real-time during minting.

Usage: She is the rising star in the Generative Art world.

12. PFP

Abbreviation for Profile picture, meaning "personal avatar." Avatars used on Twitter or Discord, such as CryptoPunks, Bored Ape, cats, dogs, and skulls, etc.

Usage: That golden snail PFP is so cool!

13. Looks rare

Means "looks very rare." Rarity in the NFT universe usually leads to increased value, but this usage is often ironic.

Usage: When someone posts a very ordinary image, "Looks rare."

14. FOMO

Abbreviation for Fear of Missing Out, meaning "afraid of missing out." When you buy an NFT just because you fear missing out on the next big market trend.

Usage: I bought a golden snail NFT because of FOMO, but I don't know why.

15. Cope

The opposite of FOMO. Refers to not wanting to buy more NFTs because you regret not buying in earlier at a lower price.

Usage:

A: I know the golden snail NFT series has increased 50 times in value and will be auctioned at Christie's, but I don't like this release, so I didn't participate.

B: Okay, cope.

16. Szn

Szn means Season, representing the market cycle. The market cycle of cryptocurrencies is faster than the real-world market cycle, and the market cycle of NFTs is even faster, usually lasting 1 to 4 weeks.

17. 1:1 Art

Each artwork is unique 1:1. PFP and Generative Art NFTs use this type of smart contract, usually with quantities ranging from 200 to 10,000.

Usage: 1:1 szn is coming!

18. IRL

Abbreviation for In real life, meaning "real world." Refers to the world outside of OpenSea, Twitter, and Discord.

19. Probably Nothing

This term is unique, meaning Probably something. It is a more polite version of FOMO, used when there is almost no reasonable doubt that the market will rise.

Usage: Visa bought a CryptoPunk! Probably Nothing.

20. Few

Abbreviation for Few understand. Similar concept to Probably Nothing.

Usage: The Museum of Modern Art in New York just bought a CryptoPunk, Few.

21. IYKYK

Abbreviation for If you know, you know. Similar concept to Few.

Usage: The Museum of Modern Art in New York just bought a CryptoPunk, IYKYK.

22. Up Only

Means "only going up." Initially popular in the early ETH market this year, it is the desired price movement for NFTs that everyone hopes for. Down Only means only going down, but it is not as popular.

23. Liquidity

Means "liquidity." However, this is an impossible state because any available ETH is immediately converted into JPGs, leaving everyone in a state of permanent illiquidity.

24. Mint

Means "minting." The act of an artist or collector initially issuing an artwork on the blockchain.

Usage: Wow, such a beautiful picture, Mint it!

25. HEN

An NFT art trading market on the Tezos blockchain, featuring many interesting but inexpensive NFTs and an extremely frustrating user interface that will make you angry!

26. 1/1 of X

Thinking about PFP and Generative Art. Each art collection is unique, but compared to 1:1 art, they are part of an overall collection series.

Usage: CryptoPunks is 1/1 of 10,000, Fidenzas is 1/1 of 999.

27. Right Click Save As

Means "right-click save." The first foolish move every non-NFT person makes when learning about NFTs – showcasing their powerful technical skills by downloading images from their browser.

Usage:

Regular Person: I Right Click Saved CryptoPunk#6529, now it's my PFP.

CryptoPunk#6529 Owner: You're awesome.

28. This is the way

Means "this is the way." A way to praise positive behavior in society.

Usage:

A: He never uses projects for scams.

B: This is the way.

29. Floor Price

Refers to the "minimum asking price" of an NFT on OpenSea, Larvalabs, or other trading platforms, either for an entire series or a single collection within that series.

Usage: The golden snail NFT has reached a 3 ETH floor price, but the golden snail nerd glasses NFT reached a 12 ETH floor price this morning.

30. OG

Abbreviation for Original gangster, originally meaning the first gangsters. Popularized through 1990s hip-hop and widely circulated in various communities. In the NFT world, it refers to respected veterans who entered the circle early and gained respect.

Usage: He is an OG CryptoPunks holder.

31. Alpha

Alpha is actually a term in investment or hedge fund communities, opposite to beta (market performance), representing excellent performance generated through asset management.

Usage: His Alpha severely declined today.

32. Its Money Laundering

Means "money laundering." In the NFT community, it is extended to the price not being real because people often use NFTs for money laundering. This specific usage is common on IRL or crypto industry Twitter to describe the NFT industry.

33. JPGs

JPGs refer to our NFTs, which can be JPGs, GIFs, PNGs, audio, video, or computer games.

Usage:

A: But you're just buying a bunch of JPGs, are you crazy?

B: No one can steal our JPGs.

34. Delist

Means "delist." Removing your NFT from OpenSea (no longer offering for sale) because the price is rapidly increasing, leading to the NFT possibly being sold, and the market's expected value of that NFT has changed.

Usage: The golden snail NFT has reached a 5 ETH floor price! Delist! Hide your JPGs.

35. Discord

A messaging platform commonly used in the NFT community.

Characteristics of Discord: Practical, crowded, full of scammers, spikes your CPU usage to 100%, and the system notification sound can annoy everyone within miles.

36. Roadmap

Means "roadmap." A series of activities planned by NFT projects (usually PFP) to add value to the community. Roadmaps are usually required in PFP projects, but requesting a roadmap in art projects is insulting. Be careful not to inadvertently violate securities laws.

37. LFG

Abbreviation for Let’s f*cking go, meaning "let's go." Used when excited about something. It's recommended to use it with a rocket emoji.

Usage: New minted golden snail NFT! LFG

38. Gas or Gas Wars

Means "gas wars." The chaotic state that ensues when all NFT Twitter users try to mint the same project simultaneously, causing a surge in gas prices throughout the Ethereum network. It's the hardest problem in computer science, and the person who solves it will win the Nobel Prize.

39. Ded

Means Dead, "done for." Can