Glossary

AB stands for Art Blocks, the leading marketplace or platform for buying and selling NFTs that fall into the "generative art" category (see definition below).

An Address in the crypto currency world often refers to the sequence of characters representing the public address of your crypto wallet. This is shared publicly and makes it easy to find you on the blockchain. You can think of your public address as the equivalent of your IBAN or RIB in traditional banking.

An Airdrop is a gift, usually in tokens or NFTs, which is sent for free to eligible wallets for promotional purposes. Airdrops are often used to reward early adopters of crypto/NFT projects.

An Alpha is quality investment advice or information that is still unknown to the majority of market participants.

AMA stands for "Ask Me Anything". This usually refers to a Q&A session (questions and answers) that is open to the public where participants are free to ask all types of questions.

Anon is the abbreviation of the word anonymous. This term is generally used to address an audience on the web, which is often anonymous.

Apes are a breed of great monkeys. In the crypto-currency world, impulsive investors are often referred to as Apes. These investors sometimes make decisions without thinking and often face big risks. Ape is also used as a verb to jump into a risky investment: “Ape into something”.

An asset is an item or a good that is regarded as having value. In the crypto world it can be a token like a cryptocurrency or an NFT.

BTFD stands for "Buy The Fucking Dip" in reference to a price decline. Often used ironically, this phrase is usually intended to lighten the mood during difficult times in a market.

Stand for Bored Ape Yacht Club, one of the most popular NFT collections on the market.

An investor with negative market sentiment is referred to as a Bear. Bears tend to push the prices down. The market is referred to as “bearish” when the price is falling.

A Blockchain is the primary technology that powers Web3 projects. It is a decentralized network that records transactions in a transparent, unfalsifiable and secure manner.

BUIDL comes from the verb "build" which means to construct. Again, this phrase is often used ironically in times of crises. It is usually used to address the developers or key players in a crypto/NFT project, by asking them to do something that could have a positive impact on the price.

A builder is a person that builds something for a project or a blockchain. It is often a developer or a very present actor in a community.

In contrast to the term bear, a bull is an investor with a positive market sentiment. The market is referred to as “bullish” when prices are soaring.

Burn is a verb that refers to the destruction of tokens, whether they are crypto-currencies or NFTs. Often, the purpose is to reduce the supply in circulation or to adopt a deflationary token economy.

CT stands for “Crypto Twitter” and corresponds to all users of the social network whose main interest lies in Web3.

A cold wallet refers to an offline digital asset wallet that is more secure than other web based crypto wallets.

A collectible is simply a collector's item. Collectibles may be rare and valuable but may also not be.

A Dutch Auction, is a type of “reverse” auction often used for the first sale of a highly anticipated NFT collection. The starting price starts as high as possible and decreases as time goes by, until a low price is reached or when every single piece in the collection is bought.

A DAO is a Decentralized Autonomous Organization. This type of organization is governed by token holders, whose voting rights are often proportional to the amount of tokens they hold.

Stands for "Do Your Own Research". Whether it's a crypto-currency, blockchain, or NFT project, this phrase encourages you to dig in so you don't have to depend on the opinion of someone else.

Degen is short for degenerate. It normally refers to an investor who rushes into a purchase without doing much research first. Recently, this term has often been used by members of the Web3 community to define themselves as buyers of NFTs or tokens.

Delist simply means to remove an NFT from sale. This practice sometimes allows the artificial increase of the price by reducing the available supply.

Often used ironically, the phrase "Devs do something" literally means "developers, do something". This call for help is usually visible during a price drop.

Diamond Hands which refers to investors resisting the temptation to sell an asset. By holding their crypto currency or NFT so tightly in their hands, the asset then turns into a diamond under pressure, gaining in value and rewarding its owner. Often reducing the selling force, "diamond hands" are respected in the community.

Sometimes used to refer to a sudden drop in price, but more commonly used to refer to the sale of a new NFT collection.

Dump is the act of selling crypto-currencies or NFTs without a care in the world. Often used in the expression "Pump and Dump", this term refers to the unscrupulous sales of investors who have made sure to temporarily inflate the price of one of their assets.

ENS is the acronym for Ethereum Name Service which is a domain name service on the Ethereum network that allows investors to purchase unique nicknames for their public addresses.

ERC-20 is the technical standard used by most tokens on the Ethereum blockchain.

ERC-721 is the technical standard used by the majority of NFTs present on the Ethereum blockchain. Unlike ERC-20 tokens, these NFTs are not fungible.

FUD stands for "Fear, Uncertainty and Doubt". A FUD is an event or new information designed to scare the crypto currency community, potentially in order to drive prices down.

Fat Finger refers to an action taken by mistake. An example of a fat finger event would be to list an asset at the wrong sale price, causing a loss.

Fiat currencies encompass all government issued currencies. Currencies in which cryptocurrency users often have little confidence.

A flip corresponds to a quick change from a long to a short position. "Flipping NFTs" means selling NFTs quickly, looking to take profits.

Floor is often used to refer to "floor price". It corresponds to the minimum price to buy an NFT of a certain collection.

Fomo is an expression representing the "Fear Of Missing Out" on something. This feeling pushes many people towards an impulsive purchase, in order not to miss a potential profit.

Fren comes from the word "friend" and is often used in the NFT community.

A fungible asset represents an interchangeable good, which can be replaced by an identical good with no real difference. Example: a fungible token, a cryptocurrency, such as bitcoin, can be replaced by another bitcoin. In contrast, a non-fungible asset is unique, like each NFT (non-fungible token).

GM stands for Good Morning. Widely used in the year 2021, this expression was used to bring a minimum of positivity in the lives of people.

GMI stands for Gonna Make It, which means "to achieve a goal.".

GN stands for Good Night.

The gas corresponds to the transaction costs of a blockchain.

A gas war is an event where a large number of people want to validate transactions first, causing network congestion. This competition is seen as a war where those who are willing to spend the most on their transaction fees will be the winners. During the mint of highly anticipated NFTs, a gas war can take place.

Genesis means the first of something. In Web3, it is often the first NFTs of a collection or the first NFT collection of an artist. The first bitcoin block mined is referred to as the genesis block.

HODL stands for “hold on for dear life” and is a distortion of the verb "hold". The expression refers to not selling an asset. This expression comes from a tweet by GameKyuubi in 2013 that has gained a cult following.

A hardware wallet is exactly the same as a cold wallet.

A hot wallet is a digital asset wallet that is connected to the internet like web based wallets. It is so named because it is online and therefore less secure than cold storage. An example of a hot wallet is a classic Metamask wallet.

IPFS stands for Inter Planetary File System. The interplanetary file system corresponds to a distributed and decentralized web architecture. The goal is to secure files stored on servers. Many quality NFT projects store their files using IPFS technology.

IRLL stands for “In Real Life” and is often used by video game players or members of the Metaverse.

Jeton is the french word for “token”. A token is an asset on the blockchain like a cryptocurrency or an NFT.

LFG stands for “Let's Fucking Go”. This expression is often used by the NFT community to encourage or congratulate each other during price growth or a consequent sale.

Stands for “Liquidity Pool”, a concept that is widely used in decentralized finance, but also in some innovative uses of NFTs. LPs sometimes refers to “Liquidity Providers” referring to investors that provide liquidity to a liquidity pool.

Looks rare is an expression frequently used to talk about NFTs looking rare before being used for anything that might please the interlocutor.

Maxi comes from the term “maximalist” and refers to a person who swears by one thing. A Bitcoin maximalist, for example, refuses to give any importance to other crypto-currencies.

Metadata is data that provides information about other data. The Metadata on an NFT usually defines the important elements, such as the attributes of an automatically generated NFT.

The Metaverse is a vague term that could represent any virtual world. More recently used to define a "new form of virtual universe", the Metaverse has been around for a very long time, as video game players were already living in virtual worlds many years ago.

The mint corresponds to the birth of an NFT when it is registered on the blockchain..

NFA stands for Not Financial Advice.

NFT stands for Non Fungible Token, the terms of which are defined earlier in this glossary.

NGMI stands for Not Gonna Make It. In opposition to GMI, this expression is often used by the Web3 community to make fun of people who refuse to understand new technologies by declaring that they will not become rich thanks to them.

A node is an actor that participates in the decentralization of a blockchain by verifying transactions in exchange for rewards.

OG stands for Original Gangster. This term simply refers to forward-thinking individuals who have been around long enough to gain notoriety or some respect from their community.

OS stands for OpenSea, one of the most popular platforms for buying, selling and creating NFTs.

Off chain means outside the blockchain and conversely, on chain refers to something present directly on the blockchain. The few NFT collections that are stored directly on the blockchain are highly respected.

A Play to Earn is a game that allows you to generate income by playing. In most cases, the player is rewarded with tokens that can be resold later.

A PFP is a profile picture. This term is often used to define NFTs whose main purpose is to be used as an avatar.

POAP stands for Proof Of Attendance Protocol. A POAP is generally an NFT granted to a group of people to prove their participation in a particular event.

In contrast to diamond hands, paper hands are used to describe people who quickly (and often at a loss) resell their assets such as their cryptos or NFTs.

Probably nothing is used ironically to define a major event, often promising the massive adoption of Web3.

A pump is a sudden upward movement in the price of an asset. The expression "pump it" therefore represents an order to raise the price.

Punks refer to one of the most iconic NFT collections: CryptoPunks. Owners of NFT CryptoPunks can also be called punks.

The phrase "getting rekt" means "getting screwed" or "losing". In crypto, getting rekt often means losing a large amount of money.

The reveal corresponds to the phase where the NFTs of a collection take shape and are differentiated from each other. Some collections don't have a real reveal phase when each NFT is directly and totally visible from its mint.

Usually refers to the roadmap of a project.

A rug pull is when members of a project abandon the project, taking investors' funds with them. Rug pulls are common in crypto currencies and many developers promise their investors great futures before leaving with the cash.

SER comes from the word sir or "monsieur" in French. In a world where common or colloquial language is used, the use of "ser" is often ironic.

The Sandbox is an online video game considered one of the main Metaverses today.

A seed phrase is a string of words that serves as access to a digital asset wallet. NEVER share your seed phrase.

Expression that is often used in a sarcastic way to make fun of a badly concealed scam.

Shill represents the act of promoting a crypto currency or an NFT.

TL;DR stands for Too Long; Didn't Read. The TLDR is usually a summary of a text that is not easily digestible.

WAGMI stands for We're All Gonna Make It, the extension of GMI meaning we're all going to get rich. This phrase brings a lot of positivity to the Web3 community.

WEN is a special form of the word "when", used mainly to ironically ask for the arrival of something expected, whether it's in anticipation of Ethereum 2.0 or a new price record, WEN lambo?

Web3 can be seen as the universe of the Internet where account login and identification is done through the use of a cryptoasset wallet. Web 3.0 can also be seen in the whole universe that touches on cryptoassets in general.

A whale is a person who owns a large amount of cryptocurrencies or NFTs. A whale can move the price of an asset by its actions alone.

A token can be found in a Wrap. For example WETH is the wrapped version of ETH. The value of WETH is therefore fixed to that of ETH in the manner of a stablecoin whose value is stuck to the dollar. Wrapping a token allows it to be used differently or on an otherwise incompatible blockchain.

XYZ is a popular domain name referring to the end of the alphabet and the XYZ generation. Its history with Google through Alphabet as well as its various references makes it a perfect choice for many Web3 companies wishing to stand out from the classic .com.