9 NFT Slang Terms You Need to Know

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.