What Is GM in Crypto? 13 Must-Know Words From NFT Slang

Do you feel like people on the NFT Twitter and Discords speak some foreign language? NFTs are new but there is already a whole subculture with its own slang.

If you want to start buying NFT art, you’ll need to know what all those strange words mean. In this post, we’ll define the 13 most-used NFT words.

Gm / Gn

Gm stands for ‘Good morning’ and gn is short for ‘Good night’. It’s a common way to start posts on Twitter and Medium with these greetings. And when NFT collectors or artists are about to stop tweeting the day, they often end with gn.

And it doesn’t really matter what time of the day it is. The NFT space is global and there is always morning and night in some corners of it.

Frens

A fren is anyone you know or don’t know on Twitter. Like friends but more inclusive of people you’ve never met (and will likely never see). That’s a common way to start a post.

OG

OG is an abbreviation for Original Ganster. At least that is the original definition from hip hop. In the NFT world, it doesn’t have to be criminal and basically, OG is anyone who is old school and authentic.

An OG was someone who was into NFTs before it became cool.

JPEGs / JPGs

A JPEG is simply an NFT. The term comes from the fact that often content in an NFT is stored as a .jpeg file.

Floor

For NFTs, the floor price is the lowest price for which an NFT from a certain collection or smart contract was sold or is listed now. It’s updated in real time.

NFTs exist on the blockchain so the history of past transactions and sales is available to everyone. Of course, someone can just transfer the NFT to someone else’s wallet and get paid in cash or other off-chain methods but that’s uncommon (and very risky).

Also, beware that NFT price manipulation is real. For example, if a supply is limited and tightly controlled, the floor price could be artificially lifted by buying and selling the NFT among different wallets controlled by the same party.

Mint

To mint an NFT means to create an actual non-fungible token via the smart contract. NFT minting requires gas fees, which on Ethereum could reach $200-$300 per piece.

1:1

A 1:1 NFT is a piece that exists in a single mint rather than a series of copies or versions. That’s like an original oil painting vs 1:40 prints signed by the artist.

Looks rare

Rarity is what drives the value of NFTs. For example, there are only 10,000 Cryptopunks and some of them have rare characteristics and traits, like Zombies and Aliens.

On NFT Twitter, looks rare is a genuine or sarcastic way to comment on an NFT’s rarity.

Alpha

In investing, alpha is the investment return that’s above the market return. So if the stock market is up 10% and your portfolio gained 15%, you’ve generated an alpha of 5%.

In NFTs, alpha simply means profit, usually as a result of uncovering a new trend early or doing something that others don’t. Like minting Loot.

Compared to other markets, crypto is still very inefficient and being early means profits. To stay up to speed with NFT developments, sign up for NFT Pickers’ newsletter.

Aping

When an NFT collector sees something that can produce alpha, the ape in it! That’s a verb that means to jump into an opportunity to turn a profit. Usually, that move is done with little or no research at all.

Degen

A degen is someone who apes into risky projects. To degen is also a verb, which means the same thing as aping. But being a degen is more of a lifestyle. A true degen can do something to degen in at any point in time.

Szn

Szn is short for the season in the Gen-Z/TikTok slang. In crypto, this usually means a bullish market for something. In NFTs, seasons change even faster: an ape szn might last only a few weeks.

Coping

Coping is a strategy for dealing with unpleasant emotions that arise from missing some alpha or selling early. Usually coping involves some dismissive or outright nasty comments on Twitter.

Cope or coping is a common reply to users who tweet something negative about a project that has just made you some alpha.

Few

If you see the word few at the end of a tweet, that means that few will understand the argument or the implications of that tweet.

Often, however, adding few is used to provoke users to comment in agreement or disagreement.

WAGMI / NGMI

NGMI is an acronym for ‘not Going to make it’, i.e. not going to achieve financial independence and wealth. Usually used as a reply to a tweet, which shows that the author doesn’t understand JPEGs or crypto in general.

WAGMI means ‘we’re all gonna make it’. This is often used to finish an upbeat tweet about the trends going well. Or just to cheer others up.

LFG

LFG is short for ‘let’s fucking go!’

This is used to signal the excitement and rally followers to do something like minting or buying NFT.