The Dapp List - Web3 Slangs
Web3 is evolving, and so are its users. The community has produced its slang for day-to-day use. They all speak in the terminology to sound cool, and keep up with trends.
The Dapp List has tailored some popular Web3 slangs alphabetically that are unofficial definitions, assumptions and short forms of various terminologies.
Newbies can refer to this list before jumping into a community discussion for better understanding.
- 1:1 Art:
1:1 Art means each art piece is unique, and rare. It can present itself in a PFP contrast or a generative art collection ranging from 200 to 10000 pieces to preserve its value. For Example, "1:1 szn is launching soon."
- 1/1 of X:
It generalizes the PFP and the generative art collection. Fidenza is 1/1 of 999, and Cryptopunks are 1/1 of 10000. Each of them is unique, and they also belong to 1:1 complete Art.
- Alpha :
Alpha is another common slang used by twitter users. It determines the ROI and above the market return rate on a particular investment done in the crypto market. It is also known as insider information. Mostly, this slang is used in the stock market.
- Alpha leak:
An alpha leak is a term used by the Defi crowd. It was frequently used during the Defi summer for understanding the influence of Defi on common people. For example, Daniel invested in dogecoin because his favorite Instagram influencer was Alpha leaking the coin.
It comes straight for the crypto Twitteratis, It means heavily investing in an asset just because it is hyped and trending. This slang is used for those who don’t do proper research and go with the flow. For example, “I aped golden snail, because my friends told me to do so.”
- Ape in:
Ape in is a term denoted to those who rush to buy the crypto coin, NFT token or the NFT collection without doing any appropriate research. For example, "People Ape in for the new trending coin and then keep regretting their investments."
- Buying on secondary:
When you miss the chance to buy the NFT at first, the only way to purchase it is in the secondary market like opensea, rarible etc. Buying on secondary comes from the stock market terminology where the IPO allows buyers a primary lot of shares. After that, they are available in the secondary market, a.k.a equity market. For Example, "Mike missed the mint. He will try his luck in the secondary."
BTFD is a short for "Buy the Fucking Dip". It refers to those who buy more coins when there is a substantial dip in price. For example, The market has crashed, BTFD!
Cope deals with a complicated situation, whether in real or virtual life. Twitter users usually experiment with this word when they miss an opportunity of investing and are now enduring its loss. For Example, "Back in 2015, ETH was $1. At present it has spiked to $4000. Coping with my over smartness".
Ded is short slang for Dead. For Example, "Donald sold Fidenza for 4 ETH, He is Ded."
Delist is used to remove the NFT from the marketplace as the market expectations change rapidly. For Example, Golden Snail 5 ETH floor. Delist!
Derivatives can be explained as the assistant project. They are derived from the original project. They help in enhancing the original brand. They were popularized with "alternative" punks. It is normal to trust a derivative and stay relaxed about them.
- Diamond hands:
The diamond hand is a slang term used for the traders that are pretty confident on their trades. They can hold their cryptocurrency for an indefinite period. They never sell it, no matter how low it goes. For example, Veronica has diamond hands, she doesn't care about the market crash.
Degen is short for degenerate. It is prominently used for Defi fans who experiment with high risk and complicated strategies for profit generation. For example, Robert is going to degen to try his hands at farming on the new chain.
DYOR stands for Do Your Own Research. A person telling you DYOR means they want you to do your self-study before investing in the NFTs or cryptocurrency. Others' decisions can influence you, but whether you buy or sell any NFT is your sole responsibility. For Example, I purchased the super hyped CryptoPunk, but DYOR".
Few is slang for "few understand". It is a polite FOMO like the "IYKYK" and "Probably Nothing". For Example, "2453 bought a punk, Few."
- Floor Price:
A floor price is the lowest asking price when trading on OpenSea, Rarible, or NFTX, etc. The price caters to a collection or a subset of the collection. For Example, Golden snails got 3 ETH, but the Golden snail nerd glasses have hit 15 ETH."
FOMO is a common acronym for Fear Of Missing Out. It is usually used when we feel afraid that missing an NFT can become the next big thing. For Example, FOMOed into Meebits, and I can't figure out why?
Fren is a short form for "friend". Because friends need no introduction, they can be called by any name, and as friends, we are all on a mission to build the community and help each other grow together.
- FUD- Fear, Uncertainty, and Doubt:
FUD is short for the famous acronym fear, uncertainty and doubt. It is used to spread negativity in the crypto market for a particular coin or the whole marketplace. The newbies and expert crypto investors fall prey to this tactic and take an early exit from the market, which results in a price drop or market crash. For example, "Retail investors are running from the market; FUD is rocking."
- Future of France:
A purposeful misspelling of "future of finance" by the Defi crowd for elaborating the new innovations in the decentralized financial ecosystem. Example: "Olympus DAO is bringing a new lending protocol, Now that is the Future of France."
GM is a common acronym that needs no introduction. It stands for "Good Morning". We greet people by saying good morning, displaying our etiquettes, optimistic attitude, and warm regards towards our friends, family and community.
GN is another popular acronym that stands for "Good Night". No matter how the day was, greeting someone good night ignites care and affection for the person and creates a new hope that tomorrow will be better than today. It's our primary response to say good night to our community when it's night time, and you are ready to sleep.
GMI stands for "Gonna Make It”, It's a community word with a similar vibe for a particular mission/task. These slang words are frequently used to display collaborative efforts.
WAGMI is short for "We are all gonna make it". It is a commonly used term among crypto traders that defines an optimistic approach towards a coin or the market value. NFT and DAO folks frequently use this term to display their brotherhood, togetherness and moral support. For example, "The floor price of crypto punk went to 6 ETH overnight, WAGMI."
- Gas or Gas Wars:
The time when everyone tries to mint the same project at a time results in surging gas prices for the entire Ethereum network. It is a state of chaos in the NFT Twitter community. For Example, Solana is coming with a new project, and it seems that there will be a gas war.
- Generative Art:
It is a process to create art by using algorithmic codes in real-time. The code designs thousands of ideas, shapes, colors, forms and patterns in milliseconds. We have to set the rules and boundaries for the creation, and algorithms take care of everything.
HODL is a common misspelt term used by crypto investors. It means that we should hold the coin whether it's price rises or falls. It is mostly used in the bear market despite the volatility or market crash. For example, The market is about to go Bearish, It's time to HODL.
IRL stands for ‘In Real Life’. It is disconnected from the virtual world and is beyond the social media handles like OpenSea, Twitter and Discord. For Example, most of us will not spend time in IRL as metaverse will be the new hangout place for every technology geek.
IYKYK is short of "If You Know, You Know". It is a polite FOMO used mostly ironically or sarcastically. For Example, "3498 bought a punk, IYKYK."
- Its money laundering:
This term denotes that NFT prices are incredibly volatile, and there is no mechanism to understand the price fluctuation between them. Hence, many people believe that it's a money-laundering strategy.
JPGs are known as joint photography group. They can also be NFTs, including GIFs, JPGs, PNGs, games, audio and video files. It is common in the community to buy the JPGs as NFTs.
- Have fun staying poor:
HFSP is a short for Have Fun Staying Poor. This term is used for those who missed the bull run of the crypto market or for those who have not yet done any investment in the crypto space. For example, Morris always told his friends to invest in crypto, they never took his advice, So now he just says HFSP.
LFG is short for Let's Fu*king Go. It is used when you are eager about something. It sounds best when used with rocket emojis. For Example, The most awaited Meebits NFT sale is on, LFG.
Lambo is short slang for Lamborghini. It determines the ability of an asset to reach the goalpost of purchasing a Lambo. The crypto and degen spaces frequently use it in a correlation with "wen moon?". For example, "Daemon purchased $100 worth of Shiba INU, Wen Lambo?"
Liquidity denotes any available ETH to trade for JPG. There is a high probability that your ETH balance can convert into JPG. Hence there is always perpetual liquidity.
- Looks Rare:
It is used to denote something unique. Ironically, everything that comes to the NFT marketplace is unique and special. For Example, "This Black hat Beardo CryptoPunk looks rare."
The backup we keep when we realize that NGMI comes true. I hope that there are enough vacancies out there.
Meatspace is a substitute for "IRL" (In Real Life). It denotes real-life incidents. For Example, "Meatspace issues today, Met with an accident."
Minting is the process to issue a part of an artwork on the blockchain; An artist is the first to mint his art piece. After that, the collectors trade it. For Example, Wow, What a fantastic piece of Art, please mint it.
- Moon / To the moon!:
This phrase determines that a particular asset will rise so high that it will skyrocket the moon. The best time to use this phrase is during the bull market. "For example, Bitcoin will go to the moon in the next 6 months."
Moonboy is used for YouTubers and social media financial geeks who are highly optimistic and always keep on exaggerating how a crypto asset will go to the moon.
NFA stands for Non-Financial Advice. It correlates with DYOR as it does not provide any sound financial guidance to anyone in the community. For Example, A NFA for newbies, learn about crypto before entering the market.
NGMI stands for "Not Going To Make It". A self intuition that predicts an unbefitting outcome for the desired action. For Example, "Sold a Cryptopunk for 1 ETH. NGMI.
Noob denotes the newbies. They are the opposite of the OG group. These new entrants are in the learning phase, so respond to them politely if you come around a noob. For Example, "4432 is such a noob, Can't believe he forgot to mint the golden snail."
OG is known as the "original gangster" in the cryptoverse. Hip hop culture from the 90s popularized the term, and then it became a notion. It also represents the early adopters. For Example, "Ryan is an OG punk holder".
- Paper hands:
Paper hands are traders who sell a coin the moment it drops a little bit. They trade like scalpers to obtain small gains. They exit quickly as the coin drops its value to avoid any significant loss. For example, "Ricky escaped the dogecoin fall a lot earlier than others, paper hand boy for a reason."
PFP is called Profile Picture in the proto-metaverse. The community uses their Digital avatars (apes, cats, dogs, punks, skeletons, etc.) as their profile picture on their social media handles.
- Probably Nothing:
"Probably nothing" is a sarcastic way to express something that needs our attention. For Example, "Mark Zuckerberg renamed facebook as meta. Probably nothing".
- Right Click and Save:
Some non-NFT people claim that the NFTs are baseless, as it is easy to right click and save the NFT art to your device. This slang is used in a satirical manner to respond to these people with some sarcasm and humor. For Example, "Robin right-clicked and saved the Cryptopunk. Now he owns an NFT. Probably Nothing."
- Rug Pull:
The rug is commonly used as a rug pulled. It came from the crypto Twitter slangs, especially from the Defi, where many projects were pumped and dumped in the market. Not sure if rugs make sense in the context of JPGs, but it is used for developers who back out from their projects.
REKT is referred to as Wrecked. It explains that someone has suffered massive losses.
Szn stands for Season. It represents a market cycle. They are used for denoting information about the market season. For Example, Crypto szns are nothing but IRL seasons in action. They might last from 1st to 4th week.
Ser stands for "Sir". Saying sir to someone is an effective way of communication. It displays our sense of respect for the conversation.
- Schelling Point:
Schelling point is a game theory introduced by Thomas Schelling. It is assumed that certain NFTs will become value bombs, and those NFTs will keep adding value for the long term.
- Seems legit:
"Seems legit" denotes the seriousness and potential of a project. You can use it when you find a project that has hidden potential to blow up the market. For Example, "Decentraland is coming up with a new NFT project, seems legit."
- This is the way:
A simple term to demonstrate the right behavior of the person in the community. For Example, "Rachel never tried to shill her project. This is the way to follow."
- Up Only:
It is the desired price direction for all the NFTs out there. The crypto enthusiasts use it when any NFT is on the rise.
WAGBI stands for We are going to buy it. DAO frequently uses it to determine the group action for a particular asset. For example, We will stay the whole night up to watch the live auction, WAGBI.
- YOLO- You Only Live Once:
YOLO is short for You Only Live Once. It denotes that we should not invest all our funds in a single asset. We should diversify our portfolio into different holdings.