Non-Fungible Token (NFT) Glossary

1:1 (n) - “One of One” is an NFT with only one edition. It differs from other NFTs that are part of a collection.

10k project (n) - A group of 10,000 NFTs with similar avatars. 

Airdrop (v) - The action of sending an NFT to a recipient’s wallet for free. Airdropping is a common reward for early users of an NFT project. 

Asset (n) - A synonym for an NFT or token piece. 

Bearish (adj) - The sentiment that an NFT will decrease in value soon. 

Bitcoin (n) - A very popular type of cryptocurrency that’s used to pay and receive money for an NFT. 

Blockchain (n) - A record of cryptocurrency transactions that is available to the general NFT community. 

Blue Chip (n, adj) - As the name suggests, these are well-known NFTs with high credibility. 

Bullish (adj) - The sentiment that NFT will increase in value soon. 

Burn (v) - The process of destroying an NFT. 

CAT (n) - A shorthand for Cryptokitties, a popular NFT on the Ethereum marketplace. 

Collectible (n) - An extremely rare NFT that’s expected to have a high value. 

Daps (n) - Apps that operate on decentralized networks. 

DeFi (n) - A shorthand for decentralized finance. 

Delist (v) - The act of removing an NFT out of the general sales market. 

Discord (n) - A platform where NFTs are commonly discussed. 

Drop (v,n) - When users get free NFTs as a reward for being in possession of specific assets. 

Ethereum (n) - The name of a decentralized blockchain with smart contract capabilities.

Etherscan (n) - A popular block explorer to check the value of NFTs. 

Flip (v) - The process of buying and selling an asset quickly to make a profit. 

Floor (n) - The lowest price you can buy an NFT or asset for. It’s the floor price. 

GameFi (n) - Games that offer tokens of NFTs as rewards or prizes. 

Gas (n) - A value of native cryptocurrency required for a user to buy and sell assets on the blockchain. 

Generative Art (n) - Art for NFTs that are made by a computer with little or no human interaction. 

GPU (n) - Graphics processing unit or a processor that’s required to mine some cryptocurrencies. 

Hashrate (n) - Unit of speed for GPU mining. 

ICO (n) - Initial coin offering, or a funding method where a cryptocurrency team sells digital assets to early adopters. 

IGO (n) - Initial game offering, or a funding method where a game team sells in-game assets to support the game’s startup costs. 

KYC (n) - “Know Your Customer” or a process of identification verification. 

Liquidity (adj) - The measure of how easily an asset can be converted into cash or other coins. 

Metadata (n) - The digital information that defines how an NFT looks. 

Metaverse (n) - A network of virtual communities focused on social connection and the intersections of tech, AR, and video. 

Mining (v) - Solving issues in the cryptocurrency space to add new transactions to the blockchain. 

Minting (v) - Formally creating an NFT. 

NFT (n) - Non-fungible token or unique crypto asset that’s stored on the blockchain. 

Oracle (n) - A code that offers smart contracts and serves as a bridge between different blockchains. 

OS (n) - OpenSea, the prominent NFT marketplace on Ethereum. 

Peer to Peer (adj) - Exchanges made between users without the need for a broker. 

Private key (n) - A secret crypto variable that’s used to encrypt data. 

Public key (n) - A crypto variable that gives users access to view your wallet of assets. 

QR Code (n) - A square barcode that can be scanned by a machine. It’s the easiest way to send an NFT on a mobile wallet. 

Rarities (n) - The uniqueness score of a digital asset (ie: common, uncommon, rare, legendary, and mystic). 

Royalties (n) - A profit earned by an NFT creator through their digital asset’s resale. 

Secondary Market (n) - The financial market where investors trade their assets with peer investors instead of the issuing companies themselves.

Token (n) - A synonym for assets. 

Volatility (adj) - Unit of measurement for how much an asset has increased or decreased in value over time. 

Wallet (n) - A digital purse that allows users to collect and organize their digital assets. 

Whale (n) - An individual with a lot of assets and capital, giving them the ability to move markets as they see fit. 

Whitelist (n) - An exclusive group that gets early access to an NFT before the rest of the world. 

Whitepaper (n) - The official document made by an asset team that gives investors a clear picture of its concept and roadmap. 

Additional Reading

• NFT Marketing with Guide Examples
• NFT Marketing Checklist
   

About the Author

Kitty Garry

Kitty is an SEO Specialist at Clutch.co. She works on backlinking, content creation, and other SEO efforts. 

See full profile