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Sea Launch

Sea Launch

5 months ago

📖 Guide to NFT terms: an NFT glossary.

NFT lingo can be overwhelming. As the NFT market matures and expands so does its own jargon, slang, colloquialisms or acronyms.

This ever-growing NFT glossary goal is to unpack key NFT terms to help you better understand the NFT market or at least not feel like a total n00b in a conversation about NFTs on Reddit, Discord or Twitter.


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1:1 Art

Art where each piece is one of a kind (1 of 1). Unlike 10K projects, PFP or Generative Art collections have a cap of NFTs released that can range from a few hundreds to 10K.

1/1 of X

Contrary to 1:1 Art, 1/1 of X means each NFT is unique, but part of a large and cohesive collection. E.g: Fidenzas by Tyler Hobbs or Crypto Punks (each Punk is 1/1 of 10,000).

10K Project

A type of NFT collection that consists of approximately 10,000 NFTs (but not strictly).


A

AB

ArtBlocks, the most important platform for generative art currently.

AFAIK

As Far As I Know.

Airdrop

Distribution of an NFT token directly into a crypto wallet for free. Can be used as a marketing campaign or as scam by airdropping fake tokens to empty someone’s wallet.

Alpha

The first or very primitive release of a project. Or Investment term to track how a certain investment outdoes the market. E.g: Alpha of 1.0 = 1% improvement or Alpha of 20.0 = 20% improvement.

Altcoin

Any other crypto that is not Bitcoin. Bitcoin Maximalists can also refer to them as shitcoins.

AMA

Ask Me Anything. NFT creators or artists do sessions where anyone can ask questions about the NFT project, team, vision, etc. Usually hosted on Discord, but also on Reddit or even Youtube.

Ape

Someone can be aping, ape in or aped on an NFT meaning someone is taking a large position relative to its own portfolio size. Some argue that when someone apes can mean that they're following the hype, out of FOMO or without due diligence. Not related directly to the Bored Ape Yatch Club.

ATH

All-Time High. When a NFT project or token reaches the highest price to date.

Avatar project

An NFT collection that consists of avatars that people can use as their profile picture (see PFP) in social media to show they are part of an NFT community like Crypto Punks.

Axie Infinity

ETH blockchain-based game where players battle and trade Axies (digital pets). The main ERC-20 tokens used are Axie Infinity Shards (AXS) and Smooth Love Potions (formerly Small Love Potion) (SLP).

Axie Infinity Shards

AXS is an Eth token that powers the Axie Infinity game.


B

Bag Holder

Someone who holds its position in a crypto or keeps an NFT until it's worthless.

BAYC

Bored Ape Yacht Club. A very successful PFP 1/1 of 10,000 individual ape characters collection. People use BAYC as a Twitter profile picture to brag about being part of this NFT community.

Bearish

Borrowed finance slang meaning someone is doubtful about the current market and that it will crash.

Bear Market

When the Crypto or NFT market is going down in value.

Bitcoin (BTC)

First and original cryptocurrency as outlined in a whitepaper by the anonymous creator(s) Satoshi Nakamoto.

Bitcoin Maximalist

Believer that Bitcoin is the only cryptocurrency needed. All other cryptocurrencies are altcoins or shitcoins.

Blockchain

Distributed, decentralized, immutable database that is the basis of trust in Web 3.0 technology.

Bluechip

When an NFT project has a long track record of success and its value is sustained over time, therefore considered a solid investment.

BTD

Buy The Dip. A bear market can be an opportunity for crypto investors to buy a crypto or NFT at a lower price.

Bullish

Borrowed finance slang meaning someone is optimistic that a market will increase in value aka moon.

Bull market

When the Crypto or NFT market is going up and up in value.

Burn

Common crypto strategy to destroy or delete tokens from the circulation supply intentionally and permanently in order to limit supply and increase the value.

Buying on secondary

Whenever you don’t mint an NFT directly from the project, you can always buy it in secondary NFT marketplaces like OpenSea. Most NFT sales are secondary market sales.


C

Cappin or Capping

Slang for lying or faking. Opposed to no cap which means “no lie”.

Coinbase

Nasdaq listed US cryptocurrency exchange. Coinbase Wallet is one of Coinbase’s products where users can use a Chrome extension or app hot wallet to store crypto and NFTs.

Cold wallet

Otherwise called hardware wallet or cold storage. It’s a physical device to store your cryptocurrencies and/or NFTs offline. They are not connected to the Internet so are at less risk of being compromised.

Collection

A set of NFTs under a common theme as part of a NFT drop or an auction sale in marketplaces like OpenSea or Rarible.

Collectible

A collectible is an NFT that is a part of a wider NFT collection, usually part of a 10k project, PFP project or NFT Game.

Collector

Someone who buys NFTs to build an NFT collection, be part of a NFT community or for speculative purposes to make a profit.

Cope

The opposite of FOMO. When someone doesn’t buy an NFT because one is still dealing with a previous mistake of not FOMOing at a fraction of the price. So choosing to stay out.

Consensus mechanism

Method of authenticating and validating a transaction on a blockchain without the need to trust or rely on a central authority. Examples of consensus mechanisms are Proof of Work (PoW) or Proof of Stake (PoS).

Cozomo de’ Medici

Twitter alias used by Snoop Dogg for crypto and NFT chat.

Creator

An NFT creator is a person that creates the asset for the NFT idea, vision and in many cases the art (e.g. a jpeg, audio file, video file).

Crowsale

Where a crowdsale is the sale of a token that will be used in the business, an Initial Coin Offering (ICO) is the sale of a token that’s linked to the value of the business. Buying an ICO token is akin to buying stock in the company because it entitles you a share of the earnings and profits. Also, some tokens give you voting rights similar to holding stock in the business. The US Securities and Exchange Commission recently ruled that ICOs, but not crowdselling, will be treated as the sale of a security. This basically means that all ICOs must be registered like IPOs and offered only to accredited investors. This dramatically increases the costs and limits the pool of potential buyers.

Crypto Bags/Bags

Refers to how much cryptocurrencies someone holds, as in their bag of coins.

Cryptocurrency

The native coin of a blockchain (or protocol coin), secured by cryptography to be exchanged within a Peer 2 Peer economic system. E.g: Bitcoin (BTC) for the Bitcoin blockchain, Ether (ETH) for the Ethereum blockchain, etc.

Crypto community

The community of a specific crypto or NFT project. NFT communities use Twitter and Discord as their primary social media to hang out.

Crypto exchange

Where someone can buy, sell or trade cryptocurrencies and tokens.

Cryptography

The foundation of blockchain technology. The use of mathematical theory and computer science to encrypt or decrypt information.

CryptoKitties

One of the first and most popular NFT based blockchain games. In 2017, the NFT project almost broke the Ethereum blockchain and increased the gas prices dramatically.

CryptoPunk

Currently one of the most valuable blue chip NFT projects. It was created by Larva Labs. Crypto Punk holders flex their NFT as their profile picture on Twitter.

CT

Crypto Twitter, the crypto-community on Twitter.

Cypherpunks

Movement in the 1980s, advocating for the use of strong cryptography and privacy-enhancing technologies as a route to social and political change. The movement contributed and shaped blockchain tech as we know today.


D

DAO

Stands for Decentralized Autonomous Organization. When a NFT project is structured like a DAO, it grants all the NFT holders voting rights, control over future actions and the NFT’s project direction and vision. Many NFT projects are also organized as DAO to be a community-driven project.

Dapp

Mobile or web based decentralized application that interacts on a blockchain via smart contracts. E.g: Dapp is the frontend and the smart contract is the backend.

DCA

Acronym for Dollar Cost Averaging. An investment strategy to reduce the impact of crypto market volatility. E.g: buying into a crypto asset on a regular monthly basis rather than a big one time purchase.

Ded

Abbreviation for dead like "I sold my Punk for 90 ETH. I am ded."

DeFi

Short for Decentralized Finance. Blockchain alternative for traditional finance, where intermediaries like banks or brokerages are replaced by smart contracts to offer financial services like trading, lending, earning interest, insure, etc.

Degen

Short for degenerate, a gambler who buys into unaudited or unknown NFT or DeFi projects, without proper research hoping to chase high profits.

Delist

No longer offer an NFT for sale on a secondary market like Opensea. NFT Marketplaces can delist an NFT that infringes their rules. Or NFT owners can choose to delist their NFTs (has long as they have sufficient funds for the gas fees) due to price surges to avoid their NFT being bought or sold for a higher price.

Derivative

Projects derived from the original project that reinforces the value and importance of the original NFT. E.g: "alternative" punks.

Dev

A skilled professional who can build NFT projects using smart contracts and blockchain technology.

Dex

Decentralised Exchange that allows for peer-to-peer trustless transactions that don’t rely on a centralized authority to take place. E.g: Uniswap, PancakeSwap, dYdX, Curve Finance, SushiSwap, 1inch, etc.

Diamond Hands

Someone who believes and holds a cryptocurrency or NFT regardless of the crypto or NFT market fluctuations.

Discord

Chat app heavily used by crypto and NFT communities for knowledge sharing and shilling.

DLT

Acronym for Distributed Ledger Technology. It’s a protocol that allows the secure functioning of a decentralized database, through cryptography. This technological infrastructure scraps the need for a central authority to keep in check manipulation or exploitation of the network.

Dog coin

It’s a memecoin based on the Japanese dog breed, Shiba Inu, first popularised by Dogecoin. Other notable coins are Shiba Inu or Floki Inu. These dog coins are frequently subjected to pump and dumps and are extremely volatile. The original dog coin DOGE was created as a joke in 2013. Elon Musk is one of Dogecoin's most famous supporters.

Doxxed/Doxed

When the identity of an NFT team member, dev or creator is public, known or verifiable. In the NFT market, when a NFT team is doxed it’s a usually sign of confidence and transparency for NFT collectors to ensure they will not be scammed for an anonymous creator.

Drop

The release of an NFT (single or collection) into the NFT market.

DYOR

Acronym for Do Your Own Research. A common expression used in the crypto or NFT community to disclaim responsibility for the financial/strategy advice someone is providing the community and to avoid being called out by others in theNFT or crypto community.


E

EIP-1559 EIP

Referring to Ethereum Improvement Proposal 1559, commonly known as the London Fork. It’s an upgrade to the Ethereum protocol code to improve the blockchain security and scalability. The major change consists in shifting from a proof-of-work consensus mechanism (PoW) to a low energy and lower gas fees proof-of-stake system (PoS).

ERC-1155

Stands for Ethereum Request for Comment-1155. A multi-token standard that can represent any number of fungible (ERC-20) and non-fungible tokens (ERC-721).

ERC-20

Ethereum Request for Comment-20 is a standard defining a fungible token like a cryptocurrency.

ERC-721

Ethereum Request for Comment-721 is a standard defining a non-fungible token (NFT).

ETH

Aka Ether, the currency symbol for the native cryptocurrency of the Ethereum blockchain.

ETH2.0

Also known as the London Fork or EIP-1559 EIP. It’s an upgrade to the Ethereum network to improve the network’s security and scalability. The most dramatic change is the shift from the proof-of-work consensus mechanism (PoW) to proof-of-stake system (PoS).

Ether

Or ETH, the native cryptocurrency of the Ethereum blockchain.

Ethereum

Network protocol that allows users to create and run smart contracts over a decentralized network.


F

FCFS

Acronym for First Come First Served. Commonly used strategy in a NFT collection drop when the demand surpasses the supply.

Few

Short for "few understand". Similar to the irony behind the "probably nothing" expression. Like X person bought into a popular NFT, because it understands its long term value.

Fiat Currencies or Money

National government-issued currencies like the US Dollar (USD), Euro (EUR) or Great British Pound (GBP) that are not backed by a commodity like silver or gold. FIAT means an authoritative or arbitrary order like a government decree.

Flex

Slang for showing off. In the crypto community, it’s a Lamborghini or a gold Rolex. In the NFT world, it’s a CryptoPunk or BAYC PFP on Twitter.

Flip

Quickly buying and selling crypto or NFTs to make a profit.

Flippening

Colloquial expression coined in 2017 for when Ethereum’s market capitalisation surpasses Bitcoin’s.

Floor Price

It means the lowest asking price for an NFT collection or subset of a collection on a secondary market like OpenSea.

Floor Sweep

Refers when a NFT collector or investor buys all the lowest listed NFTs on a secondary NFT marketplace.

FOMO

Acronym for Fear Of Missing Out. Buying a crypto or NFT out of fear of missing out on the next big thing.

FOMO-in

Buying a crypto or NFT regardless if it's at the top of the market for FOMO.

Fractionalize

Turning one NFT like a Crypto Punk into X number of fractions ERC-20 tokens that prove ownership of that Punk. This allows for i) collective ownership of an NFT, ii) making an expensive NFT affordable for the common NFT collector and iii) adds more liquidity to a very illiquid NFT market.

FR

Abbreviation for For Real?

Fren

Means Friend and what people in the NFT community call each other in an endearing and positive way.

Foundation

An exclusive, by invitation only, NFT marketplace that specializes in NFT art.

Fungible

Means X can be traded for another X and still hold the same value. E.g: My dollars = your dollars. My 1 ether = your 1 ether. My casino chip = your casino chip. On Ethereum, fungible tokens are defined by the ERC-20 standard.

FUD

Acronym for Fear Uncertainty Doubt. It can be a) when someone spreads negative and sometimes false news to discredit a certain crypto or NFT project. Or b) the overall negative feeling regarding the future of the NFT/Crypto project or market, especially when going through a bear market.

Fudder

Someone who has FUD or engages in FUD about a NFT project.

Fudding your own bags

When an NFT collector or crypto investor speaks negatively about an NFT or crypto project he/she has invested in or has a stake in. Usually negative comments about the team or vision.


G

G

Means Gangster. A term of endearment used amongst the NFT Community.

Gas/Gas fees/Gas prices

The fee charged to complete a transaction in a blockchain. These gas prices vary tremendously between the blockchains, the consensus mechanism used to validate transactions or the number of transactions being made at a specific time.

Gas war

When a lot of NFT collectors (or bots) are trying to mint an NFT at once and therefore resulting in gas price surge.

Generative art

Artwork that is algorithmically created by code with unique traits and rarity.

Genesis drop

It refers to the first NFT drop a creator makes on an NFT auction platform.

GG

Interjection for Good Game.

GM

Interjection for Good Morning.

GMI

Acronym for Going to Make It. Opposite of NGMI (NOT Going to Make It).

GOAT

Acronym for Greatest Of All Time.

GTD

Acronym for Going To Dust. When a token or NFT project turns out to be a bad investment.

GTFO

Get The F*ck Out, as in “gtfo with that fud dude” if someone is talking bull.

GWEI

One billionth of an Ether (ETH) also known as a Shannon / Nanoether / Nano — unit of account used to price Ethereum gas transactions.


H

HEN (Hic Et Nunc)

A popular NFT art marketplace for art built on the Tezos blockchain. Big NFT marketplace for inexpensive NFTs but not a very user-friendly UI/website.

HODL

Misspelling of HOLD coined in an old Reddit post. Synonym with “Hold On for Dear Life” meaning hold your coin or NFT until the end, whether that they’ll moon or dust.

Hot wallet

Wallets connected to the Internet, less secure than cold wallet because they’re more susceptible to hacks.

Hype

Term used to show excitement or anticipation about an upcoming crypto project or NFT.


I

ICO

Acronym for Initial Coin Offering. It’s the crypto equivalent to a stocks’ IPO (Initial Public Offering) but with far less scrutiny or regulation (leading to a lot of scams). ICO’s are a popular way for crypto projects to raise funds.

IDO

Acronym for Initial Dex Offering. To put it simply it means to launch NFTs or tokens via a decentralized liquidity exchange. It’s a common fundraising method used by upcoming crypto or NFT projects. Many consider IDOs a far better fundraising alternative to ICOs.

IDK

Acronym for I Don’t Know.

IDEK

Acronym for I Don’t Even Know.

Imma

Short for I’m going to be.

IRL

Acronym for In Real Life. Refers to the physical world outside of the online/virtual world of crypto, NFTs, gaming or social media.

IPFS

Acronym for Interplanetary File System. A peer-to-peer file storage system using hashes to recall and preserve the integrity of the file, commonly used to store NFTs outside of the blockchain.

It’s Money Laundering

Someone can use this expression to suggest that NFT prices aren’t real and that actually people are using NFTs to launder money, without providing much proof or explanation on how it works.

IYKYK

Stands for If You Know, You Know This. Similar to the expression "few", used when someone buys into a popular crypto or NFT project, slightly because of FOMO but also because it believes in its long term value.


J

JPEG/JPG

File format typically used to encode NFT art. Some people also use Jpeg to mock people buying NFTs as in “All that money for a jpeg”.


K

KMS

Short for Kill MySelf.


L

Larva Labs/ LL

NFT Creators behind the popular NFT projects like Cryptopunks,Meebits or Autoglyphs.

Laser eyes

Bitcoin meme signalling support for BTC and/or it will break the $100k per coin valuation.

LFG

Acronym for Let’s F*cking Go! A common rallying call used in the crypto or NFT community to lead people into buying an NFT or a crypto.

Liquidity

Term that means that a token or NFT has a high volume activity in the crypto/NFT market. It’s easily sold and resold. But usually the NFT market it’s illiquid when compared to the general crypto market, due to the non-fungibility nature of an NFT (there are less buyers for every NFTs out there).

LMFAO

Stands for Laughing My F*cking Ass Off.

Looks Rare

Ironic expression commonly used in the NFT Community. Rarity is a driver of an NFT’s value.

London Hard Fork

Known as EIP-1559, was an Ethereum code upgrade proposal designed to improve the blockchain security and scalability. It’s major change is to shift from PoW to PoS consensus mechanism.

Long run

Means someone is committed to the NFT market or an NFT project in the long term.


M

Maximalist

Typically refers to Bitcoin Maximalists. People who only believe that Bitcoin is the most secure and resilient blockchain. For Maximalists, all other cryptocurrencies are shitcoins therefore a waste of time, development and money.

McDonald's

Common and ironic expression amongst the crypto community. It means that Mcdonald’s is always a valid backup plan or career in the case all cryptocurrencies crash and disappear.

Meatspace

Synonymous with IRL - In Real Life.

Memecoin

Cryptocurrency like Dogecoin that is based on an internet joke or meme.

Metamask

Popular crypto hot wallet platform to store crypto and NFTs.

Metaverse

Term was coined by writer Neal Stephenson in the 1992 dystopian novel “Snow Crash”. It’s an immersive and digital place where people interact via their avatars. Big tech players like Meta (formerly known as Facebook) and other independent players have been designing their own version of a metaverse. NFTs can have utility for users like buying, trading, winning, accessing, experiencing or interacting with things inside a metaverse.

Mfer

Short for “mother fker”.

Miners

Single person or company that mines one or more cryptocurrencies like Bitcoin or Ethereum. Both blockchains need computing power for their Proof of Work consensus mechanism. Miners provide the computing power and receive coins/tokens in return as payment.

Mining

Mining is the process by which new tokens enter in circulation as for example in the Bitcoin blockchain. Also, mining ensures the validity of new transactions happening in a given blockchain that uses the PoW consensus mechanism. Therefore, the ones who mine are rewarded by ensuring the validity of a blockchain.

Mint/Minting

Mint an NFT is the act of publishing your unique instance to a specific blockchain like Ethereum or Tezos blockchain. In simpler terms, a creator is adding a one-of-kind token (NFT) into circulation in a specific blockchain.

Once the NFT is minted - aka created - NFT collectors can i) direct mint, therefore purchase the NFT by paying the specified amount directly into the project’s wallet. Or ii) buy it via an intermediary like an NFT marketplace (e.g: OpenSea, Foundation, Rarible, etc.). Later, the NFT owner can choose to resell the NFT, most NFT creators set up a royalty for every time their NFT is resold.

Minting interval

How often an NFT creator can mint or create tokens.

MOAR

A misspelling that means “more”.

Moon/Mooning

When a coin (e.g. ETH), or token, like an NFT goes exponential in price and the price graph sees a vertical climb. Crypto or NFT users then use the expression that “X token is going to the moon!”.

Moon boys

Slang for crypto or NFT holders who are looking to pump the price dramatically - taking a token to the moon - for short term gains and with no real long term vision or commitment.


N

Never trust, always verify

Treat everyone or every project like something potentially malicious.

New coiner

Crypto slang for someone new to the cryptocurrency space. Usually newcomers can be more susceptible to FUD or scammers.

NFA

Acronym for Not Financial Advice.

NFT

Acronym for Non-Fungible Token. The type of token that can be created, bought, sold, resold and viewed in different dapps. The ERC-721 smart contract standard (Ethereum blockchain) is the most popular amongst NFTs.

NFT Marketplace / NFT Auction platform

Platforms where people can sell and buy NFTs, either via an auction or pay the seller’s price. The largest NFT marketplace is OpenSea. But there are other popular NFT marketplace examples like Foundation, SuperRare, Nifty Gateway, Rarible, Hic et Nunc (HeN), etc.

NFT Whale

A NFT collector or investor who buys a large amount of NFTs.

NGMI

Acronym for Not Going to Make It. For example, something said to someone who has paper hands.

NMP

Acronym for Not My Problem.

Nocoiner

It can be someone who simply doesn’t hold cryptocurrencies, mistrust the crypto market or believes that crypto is either a scam or a ponzi scheme.

Noob/N00b/Newbie

Slang for someone new or not experienced in cryptocurrency or NFTs. These people are more susceptible to scams, drawn into pump and dumps or getting rekt on bad coins.

Normie/Normy

Similar expression for a nocoiner.

NSFW

Acronym for Not Suitable For Work. Referring to online content inappropriate for viewing in public or at work. It began as mostly a tag for sexual content, nudity, or violence, but it has envolved to range a number of other topics that might be delicate or trigger viewers.

Nuclear NFTs

An NFT or collectible with more than 1,000 owners. For the NFT to be sold or resold, every co-owners must give their permission beforehand. Otherwise, the NFT transaction can’t be made.


O

OG

Acronym for Original Gangster and it popularized by 90s Hip Hop culture. It means the first, the original or the person who has been around since the very start and earned respect in the community. In NFT terms, Cryptopunks are the OG of NFTs.

On-chain vs Off-chain

An on-chain NFT is when the artwork (like a jpeg, video or music file) is stored directly into the blockchain making it more secure and less susceptible to being stolen. But, note that most blockchains can only store small amounts of data.

Off-chain NFTs means that the high quality image, music or video file is not stored in the blockchain. But, the NFT data is stored on an external party like a) a centralized server, highly vulnerable to the server being shut down/exploited. Or b) an InterPlanetary File System (IPFS), also an external party but more secure way of finding data because it utilizes a distributed, decentralized system.

OpenSea

By far the largest NFT marketplace in the world, currently.


P

Paper Hands

A crypto or NFT holder who is permeable to negative market sentiment or FUD. And does not hold their crypto or NFT for long. Expression used to describe someone who sells as soon as NFTs enter a bear market.

PFP

Stands for Picture For Profile. Twitter users who hold popular NFTs like Crypto Punk or BAYC use their punk or monkey avatar as their profile picture.

POAP NFT

Stands for Proof of Attendance Protocol. These types of NFTs are awarded to attendees of events, regardless if they’re physical or virtual, as proof you attended.

PoS

Stands for Proof of Stake. A consensus mechanism used by blockchains like Bitcoin or Ethereum to achieve agreement, trust and security in every transaction and keep the integrity of the blockchain intact. PoS mechanisms are considered more environmentally friendly than PoW as they’re lower energy and in emissions.

PoW

Stands for Proof of Work. A consensus mechanism used by blockchains like Bitcoin to achieve agreement, trust and security and keep the transactional integrity of the blockchain intact. PoW mechanism requires a lot of computational power, therefore uses more energy resources and higher CO2 emissions than the PoS mechanism.

Private Key

It can be similar to a password. It’s a secret number that allows users to access their cold or hot wallet funds, prove ownership of a certain address and sign transactions on the blockchain.

It’s not advisable to share a private key with anyone as it makes a person vulnerable to thefts. In case someone loses or forgets its private key, it can use a recovery phrase to restore access to a crypto or NFT wallet.

Pre-mine

A term used in crypto to refer to the act of creating a set amount of tokens before their public launch. It can also be known as a Genesis Sale and is usually associated with Initial Coin Offerings (ICOs) in order to compensate founders, developers or early investors.

Probably nothing

It’s an ironic expression used by NFT enthusiasts to refer to an important or soon to be big news, project or person in the NFT space. Meaning when someone says probably nothing it actually means that it is probably something.

Protocol Coin

Stands for the native coin of a blockchain. As in Ether for the Ethereum blockchain or BTC on the Bitcoin blockchain.

Pump & Dump

The term pump means when a person or a group of people buy or convince others to buy large quantities of a crypto or an NFT with the single goal to drive the price to a peak. When the price peaks, these people sell their position high and for a hefty profit, therefore dumping the price and leaving other slower investors or newbies rekt or at a loss.


R

Rarity

Rarity in NFT terms refers to how rare an NFT is. The rarity can be defined by the number of traits, scarcity or properties of an NFT.

Reaching

Slang for an exaggeration over something to make it sound worse than what it actually is or to take a point/scenario too far.

Recovery phrase

A 12-word phrase that acts like backup for your crypto private keys. A person can recover all of the crypto wallet accounts’ private keys from the recovery phrase. Is not advisable to share the recovery phrase with anyone.

Rekt

Slang for wrecked. When a crypto or NFT project goes wrong or down in value sharply. Or more broadly, when something goes wrong like a person is price out by the gas surge or an NFT floor price goes down.

Right Click Save As

An Ironic expression used by people who don’t understand the value or potential unlocked by NFTs. Person who makes fun that she/he can easily get a digital artwork by Right Click Save As and mock the NFT space and its hype.

Roadmap

The strategy outlined by an NFT project. A way to explain to the NFT community or a potential NFT investor, the different stages, value and the long term vision of the NFT project.

Royalties

NFT creators can set up their NFT so each time their NFT is resold, the creator gets paid a percentage of the sale price.

RN

Acronym for Right Now.

Rug Pull/Rugged

Slang for a scam when the founders, team or developers suddenly leave a crypto project and run away with all the investors’ funds leaving them with nothing.


S

Satoshi Nakamoto

The anonymous creator of the Bitcoin whitepaper and whose identity has never been verified.

Scammer

Someone actively trying to steal other people’s crypto or NFTs.

Secondary

Secondary refers to secondary NFT marketplaces, where NFT collectors or investors can resell NFTs after they’ve been minted. The price of an NFT or NFT collection is determined by those who list them.

Seed phrase

Another name for recovery phrase is the 12-word phrase that allows you to recover all of the crypto wallet accounts’ private keys and regain control of the wallet. Is not advisable to share the seed phrase with anyone.

Seems legit

When an NFT project or a person in the NFT community looks promising and the real deal, meaning seems legitimate. Depending on the context can also be used ironically.

Seems rare

An ironic expression or dismissive comment used by the NFT community. For example, It can be used sarcastically when someone asks for feedback on an NFT they own or created.

Ser

Slang for sir and a polite way of addressing others in an NFT community.

Shill

Expression when someone wants to promote or get exposure to an NFT they own or created.

Shill Thread

It’s a common Twitter strategy to gain traction by encouraging NFT creators to share a link to their NFT project in the hopes of getting bought or noticed by the NFT Community and potential buyers.

Simp/Simping

A NFT holder or creator who comes off as trying to hard impress an NFT whale or investor.

Sh*tposter

A person who mostly posts meme content on Twitter for fun.

SLP

Acronym for Smooth Love Potion. It’s a token players can earn as a reward in the NFT game Axie Infinity.

Smart Contract

A self-executing contract where the terms of the agreement between buyer and seller are directly written into the code and without third party or human intervention. Ethereum is a blockchain that can execute smart contracts, on the contrary to Bitcoin which does not have that capability.

SMFH

Acronym for Shaking My F*cking Head. Common reply to a person showing unbelievable idiocy.

Sock Puppet

Scam account used to lure noob investors into fake investment services.

Snag

It means to buy an NFT quickly and for a very low price. Can also be known as sniping.

Sotheby’s

Very famous auction house that has recently auctioned Beeple’s NFTs or Bored Ape Yacht Club and Crypto Punks’ NFT collections.

Stake

Crypto term for locking up a certain amount of crypto tokens for a set period of time to earn interest. In the NFT space, there are popping up a lot of projects or services that allow NFT holders to earn interest for holding a certain NFT.

Szn

Stands for season referring to crypto or NFT market cycles.


T

TINA

Acronym for There Is No Alternative. Example: someone asks “why are you investing in BTC?”, to which the reply is “TINA”.

TINA RIF

Acronym for There Is No Alternative Resistance Is Futile.

This is the way

A commendation for positive behavior by someone in the NFT Community.

Tokenomics

Referring to the economics of cryptocurrencies, DeFi or NFT projects.


V

Valhalla

Ironic use of the Viking “heaven”. Meaning someone’s NFT collection is either going to be a profitable and blue chip project, therefore they can ascend to Valhalla or is going to tank and that person will have to work at a Mcdonald’s.

Vibe

Term used to express a positive emotional state.

Volatile/Volatility

Term used to describe rapid market fluctuations and crypto or NFT prices go up and down quickly in a short period.


W

WAGMI

Acronym for We Are Going to Make It. Rally cry to build momentum for a crypto or NFT project and lead even more people into buying, shilling or supporting a specific project.

Wallet

There can be a hot or cold wallet, but both are a place where someone can store their cryptocurrency and tokens. Hot wallets are always connected to the Internet like MetaMask, Trust wallet or Phantom. On the contrary cold wallets are hardware wallets to store crypto or NFTs offline like Nano Ledger.

Weak Hands

Synonymous with Paper Hands. Someone who immediately sells their crypto or NFT because of a bear market, FUD or any other negative sentiment.

Web 1.0

Refers to the beginning of the Web. A period from around 1990 to 2005, also known as the read-only web.

Web 2.0

Refers to an iteration of Web 1.0. From 2005 to the present moment, where social media platforms like Facebook, Instagram, TikTok, Google, Twitter, etc reshaped the web, therefore becoming the read-write web.

Web 3.0

A term coined by Ethereum co-founder Gavin Wood and it’s an idea of what the future of the web could look like. Most peoples’ data, info or content would no longer be centralized in Web 2.0 giants - the Big Tech - but decentralized, mostly thanks to blockchain technology. Web 3.0 could be known as read-write-trust web.

Wen

As in When.

Wen Moon

Popular expression from crypto Twitter not so much in the NFT space. Refers to the still distant future when a token will moon.

Whitepaper

Document released by a crypto or NFT project where it lays the technical information behind the concept, vision, roadmap and plans to grow a certain project.

Whale

Someone who owns a large position on a specific or many cryptos or NFTs.


Y

Yodo

Acronym for You Only Die Once. The opposite of Yolo.

Yolo

Acronym for You Only Live Once. A person can use this when they just realized they bought a shitcoin or crap NFT and they’re getting rekt.


Original post

More on NFTs & Art

Alex Carter

Alex Carter

2 months ago

Metaverse, Web 3, and NFTs are BS

Most crypto is probably too.

Metaverse, Web 3, and NFTs are bullshit

The goals of Web 3 and the metaverse are admirable and attractive. Who doesn't want an internet owned by users? Who wouldn't want a digital realm where anything is possible? A better way to collaborate and visit pals.

Companies pursue profits endlessly. Infinite growth and revenue are expected, and if a corporation needs to sacrifice profits to safeguard users, the CEO, board of directors, and any executives will lose to the system of incentives that (1) retains workers with shares and (2) makes a company answerable to all of its shareholders. Only the government can guarantee user protections, but we know how successful that is. This is nothing new, just a problem with modern capitalism and tech platforms that a user-owned internet might remedy. Moxie, the founder of Signal, has a good articulation of some of these current Web 2 tech platform problems (but I forget the timestamp); thoughts on JRE aside, this episode is worth listening to (it’s about a bunch of other stuff too).

Moxie Marlinspike, founder of Signal, on the Joe Rogan Experience podcast.

Moxie Marlinspike, founder of Signal, on the Joe Rogan Experience podcast.

Source: https://open.spotify.com/episode/2uVHiMqqJxy8iR2YB63aeP?si=4962b5ecb1854288

Web 3 champions are premature. There was so much spectacular growth during Web 2 that the next wave of founders want to make an even bigger impact, while investors old and new want a chance to get a piece of the moonshot action. Worse, crypto enthusiasts believe — and financially need — the fact of its success to be true, whether or not it is.

I’m doubtful that it will play out like current proponents say. Crypto has been the white-hot focus of SV’s best and brightest for a long time yet still struggles to come up any mainstream use case other than ‘buy, HODL, and believe’: a store of value for your financial goals and wishes. Some kind of the metaverse is likely, but will it be decentralized, mostly in VR, or will Meta (previously FB) play a big role? Unlikely.

METAVERSE

The metaverse exists already. Our digital lives span apps, platforms, and games. I can design a 3D house, invite people, use Discord, and hang around in an artificial environment. Millions of gamers do this in Rust, Minecraft, Valheim, and Animal Crossing, among other games. Discord's voice chat and Slack-like servers/channels are the present social anchor, but the interface, integrations, and data portability will improve. Soon you can stream YouTube videos on digital house walls. You can doodle, create art, play Jackbox, and walk through a door to play Apex Legends, Fortnite, etc. Not just gaming. Digital whiteboards and screen sharing enable real-time collaboration. They’ll review code and operate enterprises. Music is played and made. In digital living rooms, they'll watch movies, sports, comedy, and Twitch. They'll tweet, laugh, learn, and shittalk.

The metaverse is the evolution of our digital life at home, the third place. The closest analog would be Discord and the integration of Facebook, Slack, YouTube, etc. into a single, 3D, customizable hangout space.

I'm not certain this experience can be hugely decentralized and smoothly choreographed, managed, and run, or that VR — a luxury, cumbersome, and questionably relevant technology — must be part of it. Eventually, VR will be pragmatic, achievable, and superior to real life in many ways. A total sensory experience like the Matrix or Sword Art Online, where we're physically hooked into the Internet yet in our imaginations we're jumping, flying, and achieving athletic feats we never could in reality; exploring realms far grander than our own (as grand as it is). That VR is different from today's.

https://podcasts.google.com/feed/aHR0cHM6Ly9leHBvbmVudC5mbS9mZWVkLw/episode/aHR0cHM6Ly9leHBvbmVudC5mbS8_cD00MzM?hl=en&ved=2ahUKEwjH5u6r4rv2AhUjc98KHeybAP8QjrkEegQIChAF&ep=6

Ben Thompson released an episode of Exponent after Facebook changed its name to Meta. Ben was suspicious about many metaverse champion claims, but he made a good analogy between Oculus and the PC. The PC was initially far too pricey for the ordinary family to afford. It began as a business tool. It got so powerful and pervasive that it affected our personal life. Price continues to plummet and so much consumer software was produced that it's impossible to envision life without a home computer (or in our pockets). If Facebook shows product market fit with VR in business, through use cases like remote work and collaboration, maybe VR will become practical in our personal lives at home.

Before PCs, we relied on Blockbuster, the Yellow Pages, cabs to get to the airport, handwritten taxes, landline phones to schedule social events, and other archaic methods. It is impossible for me to conceive what VR, in the form of headsets and hand controllers, stands to give both professional and especially personal digital experiences that is an order of magnitude better than what we have today. Is looking around better than using a mouse to examine a 3D landscape? Do the hand controls make x10 or x100 work or gaming more fun or efficient? Will VR replace scalable Web 2 methods and applications like Web 1 and Web 2 did for analog? I don't know.

My guess is that the metaverse will arrive slowly, initially on displays we presently use, with more app interoperability. I doubt that it will be controlled by the people or by Facebook, a corporation that struggles to properly innovate internally, as practically every large digital company does. Large tech organizations are lousy at hiring product-savvy employees, and if they do, they rarely let them explore new things.

These companies act like business schools when they seek founders' results, with bureaucracy and dependency. Which company launched the last popular consumer software product that wasn't a clone or acquisition? Recent examples are scarce.

Web 3

Investors and entrepreneurs of Web 3 firms are declaring victory: 'Web 3 is here!' Web 3 is the future! Many profitable Web 2 enterprises existed when Web 2 was defined. The word was created to explain user behavior shifts, not a personal pipe dream.

Origins of Web 2

Origins of Web 2: http://www.oreilly.com/pub/a/web2/archive/what-is-web-20.html

One of these Web 3 startups may provide the connecting tissue to link all these experiences or become one of the major new digital locations. Even so, successful players will likely use centralized power arrangements, as Web 2 businesses do now. Some Web 2 startups integrated our digital lives. Rockmelt (2010–2013) was a customizable browser with bespoke connectors to every program a user wanted; imagine seeing Facebook, Twitter, Discord, Netflix, YouTube, etc. all in one location. Failure. Who knows what Opera's doing?

Silicon Valley and tech Twitter in general have a history of jumping on dumb bandwagons that go nowhere. Dot-com crash in 2000? The huge deployment of capital into bad ideas and businesses is well-documented. And live video. It was the future until it became a niche sector for gamers. Live audio will play out a similar reality as CEOs with little comprehension of audio and no awareness of lasting new user behavior deceive each other into making more and bigger investments on fool's gold. Twitter trying to buy Clubhouse for $4B, Spotify buying Greenroom, Facebook exploring live audio and 'Tiktok for audio,' and now Amazon developing a live audio platform. This live audio frenzy won't be worth their time or energy. Blind guides blind. Instead of learning from prior failures like Twitter buying Periscope for $100M pre-launch and pre-product market fit, they're betting on unproven and uncompelling experiences.

NFTs

NFTs are also nonsense. Take Loot, a time-limited bag drop of "things" (text on the blockchain) for a game that didn't exist, bought by rich techies too busy to play video games and foolish enough to think they're getting in early on something with a big reward. What gaming studio is incentivized to use these items? Who's encouraged to join? No one cares besides Loot owners who don't have NFTs. Skill, merit, and effort should be rewarded with rare things for gamers. Even if a small minority of gamers can make a living playing, the average game's major appeal has never been to make actual money - that's a profession.

No game stays popular forever, so how is this objective sustainable? Once popularity and usage drop, exclusive crypto or NFTs will fall. And if NFTs are designed to have cross-game appeal, incentives apart, 30 years from now any new game will need millions of pre-existing objects to build around before they start. It doesn’t work.

Many games already feature item economies based on real in-game scarcity, generally for cosmetic things to avoid pay-to-win, which undermines scaled gaming incentives for huge player bases. Counter-Strike, Rust, etc. may be bought and sold on Steam with real money. Since the 1990s, unofficial cross-game marketplaces have sold in-game objects and currencies. NFTs aren't needed. Making a popular, enjoyable, durable game is already difficult.

With NFTs, certain JPEGs on the internet went from useless to selling for $69 million. Why? Crypto, Web 3, early Internet collectibles. NFTs are digital Beanie Babies (unlike NFTs, Beanie Babies were a popular children's toy; their destinies are the same). NFTs are worthless and scarce. They appeal to crypto enthusiasts seeking for a practical use case to support their theory and boost their own fortune. They also attract to SV insiders desperate not to miss the next big thing, not knowing what it will be. NFTs aren't about paying artists and creators who don't get credit for their work.

South Park's Underpants Gnomes

South Park's Underpants Gnomes

NFTs are a benign, foolish plan to earn money on par with South Park's underpants gnomes. At worst, they're the world of hucksterism and poor performers. Or those with money and enormous followings who, like everyone, don't completely grasp cryptocurrencies but are motivated by greed and status and believe Gary Vee's claim that CryptoPunks are the next Facebook. Gary's watertight logic: if NFT prices dip, they're on the same path as the most successful corporation in human history; buy the dip! NFTs aren't businesses or museum-worthy art. They're bs.

Gary Vee compares NFTs to Amazon.com. vm.tiktok.com/TTPdA9TyH2

We grew up collecting: Magic: The Gathering (MTG) cards printed in the 90s are now worth over $30,000. Imagine buying a digital Magic card with no underlying foundation. No one plays the game because it doesn't exist. An NFT is a contextless image someone conned you into buying a certificate for, but anyone may copy, paste, and use. Replace MTG with Pokemon for younger readers.

When Gary Vee strongarms 30 tech billionaires and YouTube influencers into buying CryptoPunks, they'll talk about it on Twitch, YouTube, podcasts, Twitter, etc. That will convince average folks that the product has value. These guys are smart and/or rich, so I'll get in early like them. Cryptography is similar. No solid, scaled, mainstream use case exists, and no one knows where it's headed, but since the global crypto financial bubble hasn't burst and many people have made insane fortunes, regular people are putting real money into something that is highly speculative and could be nothing because they want a piece of the action. Who doesn’t want free money? Rich techies and influencers won't be affected; normal folks will.

Imagine removing every $1 invested in Bitcoin instantly. What would happen? How far would Bitcoin fall? Over 90%, maybe even 95%, and Bitcoin would be dead. Bitcoin as an investment is the only scalable widespread use case: it's confidence that a better use case will arise and that being early pays handsomely. It's like pouring a trillion dollars into a company with no business strategy or users and a CEO who makes vague future references.

New tech and efforts may provoke a 'get off my lawn' mentality as you approach 40, but I've always prided myself on having a decent bullshit detector, and it's flying off the handle at this foolishness. If we can accomplish a functional, responsible, equitable, and ethical user-owned internet, I'm for it.

Postscript:

I wanted to summarize my opinions because I've been angry about this for a while but just sporadically tweeted about it. A friend handed me a Dan Olson YouTube video just before publication. He's more knowledgeable, articulate, and convincing about crypto. It's worth seeing:


This post is a summary. See the original one here.

Jennifer Tieu

Jennifer Tieu

6 months ago

Why I Love Azuki


Azuki Banner (www.azuki.com)

Disclaimer: This is my personal viewpoint. I'm not on the Azuki team. Please keep in mind that I am merely a fan, community member, and holder. Please do your own research and pardon my grammar. Thanks!

Azuki has changed my view of NFTs.

When I first entered the NFT world, I had no idea what to expect. I liked the idea. So I invested in some projects, fought for whitelists, and discovered some cool NFTs projects (shout-out to CATC). I lost more money than I earned at one point, but I hadn't invested excessively (only put in what you can afford to lose). Despite my losses, I kept looking. I almost waited for the “ah-ha” moment. A NFT project that changed my perspective on NFTs. What makes an NFT project more than a work of art?

Answer: Azuki.

The Art

The Azuki art drew me in as an anime fan. It looked like something out of an anime, and I'd never seen it before in NFT.
The project was still new. The first two animated teasers were released with little fanfare, but I was impressed with their quality. You can find them on Instagram or in their earlier Tweets.

The teasers hinted that this project could be big and that the team could deliver. It was amazing to see Shao cut the Azuki posters with her katana. Especially at the end when she sheaths her sword and the music cues. Then the live action video of the young boy arranging the Azuki posters seemed movie-like. I felt like I was entering the Azuki story, brand, and dope theme.

The team did not disappoint with the Azuki NFTs. The level of detail in the art is stunning. There were Azukis of all genders, skin and hair types, and more. These 10,000 Azukis have so much representation that almost anyone can find something that resonates. Rather than me rambling on, I suggest you visit the Azuki gallery

The Team

If the art is meant to draw you in and be the project's face, the team makes it more. The NFT would be a JPEG without a good team leader. Not that community isn't important, but no community would rally around a bad team.

Because I've been rugged before, I'm very focused on the team when considering a project. While many project teams are anonymous, I try to find ones that are doxxed (public) or at least appear to be established. Unlike Azuki, where most of the Azuki team is anonymous, Steamboy is public. He is (or was) Overwatch's character art director and co-creator of Azuki. I felt reassured and could trust the project after seeing someone from a major game series on the team.

Then I tried to learn as much as I could about the team. Following everyone on Twitter, reading their tweets, and listening to recorded AMAs. I was impressed by the team's professionalism and dedication to their vision for Azuki, led by ZZZAGABOND.
I believe the phrase “actions speak louder than words” applies to Azuki. I can think of a few examples of what the Azuki team has done, but my favorite is ERC721A.

With ERC721A, Azuki has created a new algorithm that allows minting multiple NFTs for essentially the same cost as minting one NFT.

I was ecstatic when the dev team announced it. This fascinates me as a self-taught developer. Azuki released a product that saves people money, improves the NFT space, and is open source. It showed their love for Azuki and the NFT community.

The Community

Community, community, community. It's almost a chant in the NFT space now. A community, like a team, can make or break a project. We are the project's consumers, shareholders, core, and lifeblood. The team builds the house, and we fill it. We stay for the community.
When I first entered the Azuki Discord, I was surprised by the calm atmosphere. There was no news about the project. No release date, no whitelisting requirements. No grinding or spamming either. People just wanted to hangout, get to know each other, and talk. It was nice. So the team could pick genuine people for their mintlist (aka whitelist).
But nothing fundamental has changed since the release. It has remained an authentic, fun, and helpful community. I'm constantly logging into Discord to chat with others or follow conversations. I see the community's openness to newcomers. Everyone respects each other (barring a few bad apples) and the variety of people passing through is fascinating. This human connection and interaction is what I enjoy about this place. Being a part of a group that supports a cause.
Finally, I want to thank the amazing Azuki mod team and the kissaten channel for their contributions.

The Brand

So, what sets Azuki apart from other projects? They are shaping a brand or identity. The Azuki website, I believe, best captures their vision. (This is me gushing over the site.)

If you go to the website, turn on the dope playlist in the bottom left. The playlist features a mix of Asian and non-Asian hip-hop and rap artists, with some lo-fi thrown in. The songs on the playlist change, but I think you get the vibe Azuki embodies just by turning on the music.
The Garden is our next stop where we are introduced to Azuki.

A brand.

We're creating a new brand together.
A metaverse brand. By the people.
A collection of 10,000 avatars that grant Garden membership. It starts with exclusive streetwear collabs, NFT drops, live events, and more. Azuki allows for a new media genre that the world has yet to discover. Let's build together an Azuki, your metaverse identity.
The Garden is a magical internet corner where art, community, and culture collide. The boundaries between the physical and digital worlds are blurring.
Try a Red Bean.

The text begins with Azuki's intention in the space. It's a community-made metaverse brand. Then it goes into more detail about Azuki's plans. Initiation of a story or journey. "Would you like to take the red bean and jump down the rabbit hole with us?" I love the Matrix red pill or blue pill play they used. (Azuki in Japanese means red bean.)

Morpheus, the rebel leader, offers Neo the choice of a red or blue pill in The Matrix. “You take the blue pill... After the story, you go back to bed and believe whatever you want. Your red pill... Let me show you how deep the rabbit hole goes.” Aware that the red pill will free him from the enslaving control of the machine-generated dream world and allow him to escape into the real world, he takes it. However, living the “truth of reality” is harsher and more difficult.

It's intriguing and draws you in. Taking the red bean causes what? Where am I going? I think they did well in piqueing a newcomer's interest.
Not convinced by the Garden? Read the Manifesto. It reinforces Azuki's role.

Here comes a new wave…
And surfing here is different.
Breaking down barriers.
Building open communities.
Creating magic internet money with our friends.
To those who don’t get it, we tell them: gm.
They’ll come around eventually.
Here’s to the ones with the courage to jump down a peculiar rabbit hole.
One that pulls you away from a world that’s created by many and owned by few…
To a world that’s created by more and owned by all.
From The Garden come the human beans that sprout into your family.
We rise together.
We build together.
We grow together.
Ready to take the red bean?

Not to mention the Mindmap, it sets Azuki apart from other projects and overused Roadmaps. I like how the team recognizes that the NFT space is not linear. So many of us are still trying to figure it out. It is Azuki's vision to adapt to changing environments while maintaining their values. I admire their commitment to long-term growth.

Conclusion

To be honest, I have no idea what the future holds. Azuki is still new and could fail. But I'm a long-term Azuki fan. I don't care about quick gains. The future looks bright for Azuki. I believe in the team's output. I love being an Azuki.
Thank you! IKUZO!

Full post here

1eth1da

1eth1da

3 months ago

6 Rules to build a successful NFT Community in 2022

Too much NFT, Discord, and shitposting.

How do you choose?

How do you recruit more members to join your NFT project?

In 2021, a successful NFT project required:

  • Monkey/ape artwork

  • Twitter and Discord bot-filled

  • Roadmap overpromise

  • Goal was quick cash.

2022 and the years after will change that.


These are 6 Rules for a Strong NFT Community in 2022:

THINK LONG TERM

This relates to roadmap planning. Hype and dumb luck may drive NFT projects (ahem, goblins) but rarely will your project soar.

Instead, consider sustainability.

Plan your roadmap based on your team's abilities.

Do what you're already doing, but with NFTs, make it bigger and better.

You shouldn't copy a project's roadmap just because it was profitable.

This will lead to over-promising, team burnout, and an RUG NFT project.

OFFER VALUE

Building a great community starts with giving.

Why are musicians popular?

Because they offer entertainment for everyone, a random person becomes a fan, and more fans become a cult.

That's how you should approach your community.

TEAM UP

A great team helps.

An NFT project could have 3 or 2 people.

Credibility trumps team size.

Make sure your team can answer community questions, resolve issues, and constantly attend to them.

Don't overwork and burn out.

Your community will be able to recognize that you are trying too hard and give up on the project.

BUILD A GREAT PRODUCT

Bored Ape Yacht Club altered the NFT space.

Cryptopunks transformed NFTs.

Many others did, including Okay Bears.

What made them that way?

Because they answered a key question.

What is my NFT supposed to be?

Before planning art, this question must be answered.

NFTs can't be just jpegs.

What does it represent?

Is it a Metaverse-ready project?

What blockchain are you going to be using and why?

Set some ground rules for yourself. This helps your project's direction.

These questions will help you and your team set a direction for blockchain, NFT, and Web3 technology.

EDUCATE ON WEB3

The more the team learns about Web3 technology, the more they can offer their community.

Think tokens, metaverse, cross-chain interoperability and more.

BUILD A GREAT COMMUNITY

Several projects mistreat their communities.

They treat their community like "customers" and try to sell them NFT.

Providing Whitelists and giveaways aren't your only community-building options.

Think bigger.

Consider them family and friends, not wallets.

Consider them fans.

These are some tips to start your NFT project.

You might also like

Tim Denning

Tim Denning

3 months ago

Elon Musk’s Rich Life Is a Nightmare 

I'm sure you haven't read about Elon's other side.

Elon divorced badly.

Nobody's surprised.

Imagine you're a parent. Someone isn't home year-round. What's next?

That’s what happened to YOLO Elon.

He can do anything. He can intervene in wars, shoot his mouth off, bang anyone he wants, avoid tax, make cool tech, buy anything his ego desires, and live anywhere exotic.

Few know his billionaire backstory. I'll tell you so you don't worship his lifestyle. It’s a cult.

Only his career succeeds. His life is a nightmare otherwise.

Psychopaths' schedule

Elon has said he works 120-hour weeks.

As he told the reporter about his job, he choked up, which was unusual for him.

His crazy workload and lack of sleep forced him to scold innocent Wall Street analysts. Later, he apologized. 

In the same interview, he admits he hadn't taken more than a week off since 2001, when he was bedridden with malaria. Elon stays home after a near-death experience.

He's rarely outside.

Elon says he sometimes works 3 or 4 days straight.

He admits his crazy work schedule has cost him time with his kids and friends.

Elon's a slave

Elon's birthday description made him emotional.

Elon worked his entire birthday.

"No friends, nothing," he said, stuttering.

His brother's wedding in Catalonia was 48 hours after his birthday. That meant flying there from Tesla's factory prison.

He arrived two hours before the big moment, barely enough time to eat and change, let alone see his brother.

Elon had to leave after the bouquet was tossed to a crowd of billionaire lovers. He missed his brother's first dance with his wife.

Shocking.

He went straight to Tesla's prison.

The looming health crisis

Elon was asked if overworking affected his health.

Not great. Friends are worried.

Now you know why Elon tweets dumb things. Working so hard has probably caused him mental health issues.

Mental illness removed my reality filter. You do stupid things because you're tired.

Astronauts pelted Elon

Elon's overwork isn't the first time his life has made him emotional.

When asked about Neil Armstrong and Gene Cernan criticizing his SpaceX missions, he got emotional. Elon's heroes.

They're why he started the company, and they mocked his work. In another interview, we see how Elon’s business obsession has knifed him in the heart.

Once you have a company, you must feed, nurse, and care for it, even if it destroys you.
"Yep," Elon says, tearing up.

In the same interview, he's asked how Tesla survived the 2008 recession. Elon stopped the interview because he was crying. When Tesla and SpaceX filed for bankruptcy in 2008, he nearly had a nervous breakdown. He called them his "children."

All the time, he's risking everything.

Jack Raines explains best:

Too much money makes you a slave to your net worth.

Elon's emotions are admirable. It's one of the few times he seems human, not like an alien Cyborg.

Stop idealizing Elon's lifestyle

Building a side business that becomes a billion-dollar unicorn startup is a nightmare.

"Billionaire" means financially wealthy but otherwise broke. A rich life includes more than business and money.


This post is a summary. Read full article here

Laura Sanders

Laura Sanders

5 months ago

Xenobots, tiny living machines, can duplicate themselves.

Strange and complex behavior of frog cell blobs


A xenobot “parent,” shaped like a hungry Pac-Man (shown in red false color), created an “offspring” xenobot (green sphere) by gathering loose frog cells in its opening.

Tiny “living machines” made of frog cells can make copies of themselves. This newly discovered renewal mechanism may help create self-renewing biological machines.

According to Kirstin Petersen, an electrical and computer engineer at Cornell University who studies groups of robots, “this is an extremely exciting breakthrough.” She says self-replicating robots are a big step toward human-free systems.

Researchers described the behavior of xenobots earlier this year (SN: 3/31/21). Small clumps of skin stem cells from frog embryos knitted themselves into small spheres and started moving. Cilia, or cellular extensions, powered the xenobots around their lab dishes.

The findings are published in the Proceedings of the National Academy of Sciences on Dec. 7. The xenobots can gather loose frog cells into spheres, which then form xenobots.
The researchers call this type of movement-induced reproduction kinematic self-replication. The study's coauthor, Douglas Blackiston of Tufts University in Medford, Massachusetts, and Harvard University, says this is typical. For example, sexual reproduction requires parental sperm and egg cells. Sometimes cells split or budded off from a parent.

“This is unique,” Blackiston says. These xenobots “find loose parts in the environment and cobble them together.” This second generation of xenobots can move like their parents, Blackiston says.
The researchers discovered that spheroid xenobots could only produce one more generation before dying out. The original xenobots' shape was predicted by an artificial intelligence program, allowing for four generations of replication.

A C shape, like an openmouthed Pac-Man, was predicted to be a more efficient progenitor. When improved xenobots were let loose in a dish, they began scooping up loose cells into their gaping “mouths,” forming more sphere-shaped bots (see image below). As many as 50 cells clumped together in the opening of a parent to form a mobile offspring. A xenobot is made up of 4,000–6,000 frog cells.

Petersen likes the Xenobots' small size. “The fact that they were able to do this at such a small scale just makes it even better,” she says. Miniature xenobots could sculpt tissues for implantation or deliver therapeutics inside the body.

Beyond the xenobots' potential jobs, the research advances an important science, says study coauthor and Tufts developmental biologist Michael Levin. The science of anticipating and controlling the outcomes of complex systems, he says.

“No one could have predicted this,” Levin says. “They regularly surprise us.” Researchers can use xenobots to test the unexpected. “This is about advancing the science of being less surprised,” Levin says.

Aldric Chen

Aldric Chen

1 month ago

Jack Dorsey's Meeting Best Practice was something I tried. It Performs Exceptionally Well in Consulting Engagements.

Photo by Cherrydeck on Unsplash

Yes, client meetings are difficult. Especially when I'm alone.

Clients must tell us their problems so we can help.

In-meeting challenges contribute nothing to our work. Consider this:

  • Clients are unprepared.

  • Clients are distracted.

  • Clients are confused.

Introducing Jack Dorsey's Google Doc approach

I endorse his approach to meetings.

Not Google Doc-related. Jack uses it for meetings.

This is what his meetings look like.

  • Prior to the meeting, the Chair creates the agenda, structure, and information using Google Doc.

  • Participants in the meeting would have 5-10 minutes to read the Google Doc.

  • They have 5-10 minutes to type their comments on the document.

  • In-depth discussion begins

There is elegance in simplicity. Here's how Jack's approach is fantastic.

Unprepared clients are given time to read.

During the meeting, they think and work on it.

They can see real-time remarks from others.

Discussion ensues.

Three months ago, I fell for this strategy. After trying it with a client, I got good results.

I conducted social control experiments in a few client workshops.

Context matters.

I am sure Jack Dorsey’s method works well in meetings. What about client workshops?

So, I tested Enterprise of the Future with a consulting client.

I sent multiple emails to client stakeholders describing the new approach.

No PowerPoints that day. I spent the night setting up the Google Doc with conversation topics, critical thinking questions, and a Before and After section.

The client was shocked. First, a Google Doc was projected. Second surprise was a verbal feedback.

“No pre-meeting materials?”

“Don’t worry. I know you are not reading it before our meeting, anyway.”

We laughed. The experiment started.

Observations throughout a 90-minute engagement workshop from beginning to end

For 10 minutes, the workshop was silent.

People read the Google Doc. For some, the silence was unnerving.

“Are you not going to present anything to us?”

I said everything's in Google Doc. I asked them to read, remark, and add relevant paragraphs.

As they unlocked their laptops, they were annoyed.

Ten client stakeholders are typing on the Google Doc. My laptop displays comment bubbles, red lines, new paragraphs, and strikethroughs.

The first 10 minutes were productive. Everyone has seen and contributed to the document.

I was silent.

The move to a classical workshop was smooth. I didn't stimulate dialogue. They did.

Stephanie asked Joe why a blended workforce hinders company productivity. She questioned his comments and additional paragraphs.

That is when a light bulb hit my head. Yes, you want to speak to the right person to resolve issues!

Not only that was discussed. Others discussed their remark bubbles with neighbors. Debate circles sprung up one after the other.

The best part? I asked everyone to add their post-discussion thoughts on a Google Doc.

After the workshop, I have:

  • An agreement-based working document

  • A post-discussion minutes that are prepared for publication

  • A record of the discussion points that were brought up, argued, and evaluated critically

It showed me how stakeholders viewed their Enterprise of the Future. It allowed me to align with them.

Finale Keynotes

Client meetings are a hit-or-miss. I know that.

Jack Dorsey's meeting strategy works for consulting. It promotes session alignment.

It relieves clients of preparation.

I get the necessary information to advance this consulting engagement.

It is brilliant.