9 NFT Slang Terms You Need to Know
Adekunle Joshua
NFT: A digital asset that represents ownership or proof of authenticity of a unique item or piece of content.
PFP: Refers to NFTs that are used as profile pictures on social media platforms.
Mint: The process of creating and issuing a new NFT on a blockchain platform.
Gas: The fee paid in cryptocurrency, usually in Ethereum (ETH), to complete a transaction or perform actions on a blockchain network.
Floor Price: The lowest listed price for an NFT in a particular collection or marketplace.
Rarity: The level of scarcity or uniqueness of an NFT, often determined by attributes, traits, or edition numbers.
Whitelist: A list of approved individuals who are granted early access or exclusive rights to purchase or participate in a particular NFT sale.
Moon: Refers to a significant increase in the value or price of an NFT or cryptocurrency.
Rug Pull: When the creator of an NFT project or marketplace suddenly abandons it or scams participants by withdrawing liquidity or stealing funds.