Skip to content

Glossary

Learn what all this means or brush up on your knowledge with our glossary of terms.

A certification of uniqueness, that represents a digital or physical good, guaranteed by and stored on the blockchain. It’s a product with a certificate of authenticity that is impossible to fake or falsify.

The one and only version of something. Think the original Mona Lisa in the Louvre, not the print of it on your t-shirt.

Where this certification exists and is protected. Because of the decentralized nature of blockchain, transactions cannot be altered, deleted or corrupted.

FLOW, Bitcoin, Ethereum and countless other digital currencies that are blockchain stored which makes them nearly impossible to counterfeit.

They keep your keys (passwords) safe and secure so always have access to your cryptocurrencies.

A release of a new project to the public.

That pesky fee required to complete a transaction on blockchain. Sometimes, you pay this small fee when you buy an NFT, send one to a friend or exchange cryptocurrencies. You’ll be happy to hear that FLOW has no gas fees.

In short, to create an NFT. It’s the process of creating the art or product and making it a tradable asset. Gets its name from the minting of coins. NFTs are also coins (tokens) that get “minted” once they are created. Once an NFT is minted, it can be purchased or traded in the market and is tracked as it moves ownership.

A shared virtual experience that spans both the digital and physical worlds, private and public networks/experiences, and open and closed platforms.

Record on a blockchain that gives its owner the right to a certain amount of currency or right to do certain things with the asset. 

Profile Picture. An NFT type to be used as a social avatar, representing you online. Tend to be in collections that give you access to a community. 

How much it costs to buy the cheapest NFT in a particular collection. If you think of it in terms of tickets, how much are the nosebleed seats?

Any decentralized software application that runs on a peer-to-peer decentralized network of the blockchain.

Tokens, NFTs or coins that are distributed (oftentimes free of charge) to members’ wallet addresses to spread awareness about a site or project.

A digital piece of art that’s algorithmically generated, ideally in real-time when minted. 

Each piece is unique but part of a collection.

Each piece is unique. Not part of a wider collection.

Do your own research. Not like the flat earthers, though. Like you would buying a car or new pair of shoes. 

Buy into a new coin or NFT project. This usually comes after you DYOR.

Hold On for Deal Life. Not selling, because like a stock, the vitality of an NFT is in its value in the marketplace. 

Fear of Missing Out. Buying an NFT for fear of missing out on the next best thing. 

Means the exact opposite! Self deprecating way to talk about what you just bought without hyping it too much.

Fear, Uncertainty and Doubt.The normal human emotions around a project that can tank it. You’re hoping that your NFTs or crypto investments don’t get stuck by FUD.

When a person sells too early if they see a tiny price jump or large loss and panics. Missing out on profit or even (gasp) selling at a loss. 

The price on something is going up a lot and really fast. Usually happens if a person with a lot of social influence pumps it up. Keep in mind, this is usually to the direct benefit of that person.

Not financial advice, since this space is volatile and speculative.  So like, here’s what I think you should do but DYOR.

Exactly what it sounds like. Fraud. When NFT developers abandon it and run away with money. Though blockchain and decentralization makes this space easier to verify, there are still bad actors (scammers gonna scam).

Good morning and good night. We’re a friendly bunch in the NFT community.