Note: The PDF was created from a Microsoft PowerPoint slide deck and may not provide the best accessible experience. In light of this, a full text version of the contents of the PDF can be found on this page.

Web 3 Acronyms

DeFi (Decentralized Finance)

An umbrella term for peer-to-peer financial services on public blockchains, primarily Ethereum.

DYOR (Do Your Own Research)

Used to remind others to gather their own intel on a specific topic.

FUD (Fear / Uncertainty / Doubt)

Based on bad news being spread, FUD causes a project or coin to drop in value.

FOMO (Fear of Missing Out)

The emotion of being scared to have missed or potentially miss an opportunity to do something.

GM/GN (Good Morning or Good Night)

Your hello and your goodbye in the web3 space, since it’s all about acronyms!

GMI (Gonna Make It)

GMI is in reference to one person who made a good choice or deserves individual recognition.

HODL (Holding on for Dear Life)

When you purchase an asset with the intent to keep it.

IRL (In Real Life)

A physical or tangible relationship, not through digital communication.

NFA (Not Financial Advice)

Used to notify others that their intel is not backed as official financial advice

NFT (Non-Fungible Token)

A unique, non-replaceable asset. It is a unique digital identifier that cannot be copied, substituted, or subdivided.

NGMI (Not Gonna Make It)

Used in reference to a mistake or misjudgment.

PFP (Profile Picture)

The most recent NFT trends are profile pictures, shortened to PFP.

WAGMI (We’re All Gonna Make It)

Commonly used to support and hype each other up for all striving to achieve the same goal.

General Web3 Terms

Blockchain

A distributed database that is shared among the nodes of a computer network.

Delist

To remove an NFT from the secondary marketplace, mark it as not for sale.

Doxxed

Someone who is doxxed is someone who is not anonymous online.

Floor Price

Floor price is the lowest price someone is willing to sell an NFT on a secondary marketplace.

Gas

The price of executing a transaction on a blockchain network.

Looks Rare

Something said when an NFT looks special or maybe has rare traits.

Mint

The actual act of acquiring an NFT on launch day, minting is the process of taking a digital asset and converting the digital file into a digital asset stored on the blockchain.

Probably Nothing

When something big happens, a fun playful way to say "oh, this is going to be big."

Rug

A scam where a project owner takes the funds invested in the project and runs off with them.

Secondary Market

Where an NFT is purchased after being minted.

Seed Phrase

A passcode required to access assets from a blockchain wallet.

Up Only

Playful way to say a project is going to only go up in value.

Wallet

A Web-based account or software in a mobile device that allows people to buy, sell and trade cryptocurrency coins and tokens (for example NFTs).

Wallet Address

Similar to a bank account number, a wallet address is used to transfer assets on the blockchain.

web1

Commonly referred to as“read only web”, web1 was comprised of static websites that simply displayed information and were not interacted with beyond user-consumption

web2

Web2 introduced user-generated content, the user experience and interoperability between experiences across the web

web3

Where we are now. Open source driven applications and the decentralization of data and information. Web3 returns ownership of data and content to its users.