• Alpha: insider information / insider tips + tricks
• Auction: some NFTs are available for purchase via a "Buy Now" option, while others are put up for auction for a set period of time for various people to bid on.
• Aped: the process of buying into an NFT project quickly, without doing any research, based on a gut feeling or FOMO
• Burn: an irreversible process that destroys the token to completely removes it from the Ethereum blockchain
• DAO: Decentralized Autonomous Organization - organizations that are run by community members with consensus decision-making
• Decentralized: the process by which buyers and sellers of assets, (e.g. NFTs), are able to deal directly with each other for transactions rather than with a centralized organization (i.e. removing the "middle person")
• DeFi: "Decentralized Finance"; a blockchain-based form of financial contracts that doesn't rely on centralized financial institutions (i.e. banks and exchanges)
• Dutch Auction: An auction that has a set starting price and decreases over time if the asset remains available for purchase
• DYOR: "Do Your Own Research"; the concept of ensuring that one does their own research on an NFT project and/or artist before purchasing it. Don't just buy something because someone else says that you should buy it, DYOR, and make sure you're making the decisions on what and what not to buy
• ERC 721: a specific token standard on the Ethereum blockchain that ensures unique, one of a kind, tokens (often used for NFTs)
• Fiat: money often issued/declared by a government as legal tender, unbacked by a physical commodity (e.g. gold)
• Floor: the lowest available price on any NFT available within an NFT project
• FOMO: "Fear of Missing Out"; there are hundreds of different NFT projects launching each week and it's easy to feel FOMO when you see those around you purchasing projects
• Fractionalize: the process of taking an NFT and dividing it into a fractions (tokens) to create liquidity in the NFT with efficient pricing
• FUD: spreading “Fear, Uncertainty, and Doubt”
• Generative Art: refers to any art practice where the artist creates a process, such as a set of natural language rules, a computer program, a machine, or other procedural invention, which is then set into motion with some degree of autonomy contributing to or resulting in a completed work of art (source)
• Lambo: a slang term representing incredible success within the NFT space (i.e. so financially successful that you can buy a Lamborghini)
• Ledger: a digital listing and verification of all web 3.0 transactions; blockchain is a digital ledger. Can also be e reference to a hardware wallet product widely used for token/cryptocurrency "cold" storage.
• Liquidity: the availability of funds in your wallet that can be used to purchase items or can be swapped into fiat