If you’re worried about keeping up with the terminology, don’t sweat it. The blockchain space is an incredibly fast-growing space and there’s always lingo being added to the lexicon. Some of these traits are more rare than others therefore making the NFT more valuable or less valuable. New investors or even veterans might find it challenging to understand the meaning. You might have seen crypto enthusiasts online say something like when LAMBO or even Hey, CryptoSis. With increased exchange in cryptocurrency across the globe, new slang has emerged. In the case of The Bored Ape Yacht Club, these assets include backgrounds, clothes, earrings, eyes fur and hats. Crypto Definitions: An Intermediate’s Guide to Crypto Lingo 2. The Aforementioned Bored Ape Yacht Club is a prime example of a degenerative set, which contains various asset classes. While we’re in the NFT area, a “Generative Set” refers to a type of NFT where the images are programmatically generated. This NFT is a collection of whimsical digital creations of a variety of simian ape creatures. One of the most popular NFT collections out there is The Bored Ape Yacht Club (referred to by those in the know simply as “Ape”). What is an NFT? You’ve probably heard of them, and you’ll be hearing a lot more about them as we head into next year and beyond.Ī non fungible token is a unique digital file that takes the form of digital art, video and music amongst other things. Additionally, the metaverse is an online virtual marketplace for the selling and purchasing of NFTs. To put it simply, the metaverse refers to a immersive, online virtual world where users can meet wherever they are in the world. This word has been everywhere since Meta CEO, Mark Zuckerberg, announced the launch of his company’s own metaverse. You might not have heard this term if you’ve been living under a rock for the last month. Since 2017, ICOs have become hugely popular in congruence with the popularity of the wider crypto market. Keeping with Bitcoin, a Bitcoin Maximalist is someone who is really pro-Bitcoin and believes it’s the only cryptocurrency of true value.Īn Initial Coin Offering refers to how blockchain projects raise money and launch their virtual currency networks. The second meaning is a unit of exchange, equal to. “Satoshi” can refer to two things: either the creator of the world’s first crypto, Bitcoin, who goes by the pseudonym, “Satoshi Nakamoto”. Let’s start where, in many ways, it all began. The rapid emergence of cryptocurrency and blockchain technology has introduced new terminology that may seem like a foreign language to those not affiliated with the crypto space (and perhaps even to those who are).Īs we head into 2022, you’ll likely come across more vocabulary that has you running for the dictionary.įret not, though, because here we’ll talk about some of the more popular crypto and blockchain-related words you’re likely to see a lot more of next year.
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