If you’re interested in investing in crypto-currency, you’ve probably already heard of the NFT acronym. You might be even more familiar with other terms like Airdrop, Fractional ownership, and Insider trading. But what does NFT terminology mean? And how do you use it? Let’s take a closer look. In this article, you’ll learn what each of these terms means and how to use them to your benefit.
NFT acronym
The NFT acronym stands for Non-Fungible Token. The concept behind NFT is that it is an unchangeable digital record of ownership. NFTs have been gaining significant traction in recent years as investors and entrepreneurs look to use the technology to benefit their business. According to Cointelegraph Research, NFT sales will reach 60 times their previous value within the next three and a half years. Reuters projects that NFT sales will reach 25 billion USD by 2021.
Airdrop
What is an Airdrop? In NFT lingo, an airdrop is the process of sending cryptocurrency for free to other wallet addresses. Some NFT projects will airdrop free companion NFTs to the original holders of their collection. Airdrops can be a valuable marketing strategy for a project that has a large NFT market cap. A floor price for Mutant Ape is 6.3ETH. However, you will need to make sure you check your airdrop’s conditions before participating.
Fractional ownership
A popular approach to forming your own fractional ownership group is to buy a football franchise and form a league of co-owners. The process involves locating and purchasing the property, assembling the group, and marketing the fractional ownership interests. You can also assemble a group yourself and work with like-minded individuals to form your group. If you decide to form your own group, you must follow these basic steps.
Insider trading
It seems insider trading has become a common practice in the NFT market. Recently, the son of the world’s second richest man, Alexandre Arnault, has been accused of purchasing and selling rare NFTs before they were publicly disclosed. Arnault sold the assets for profit and the odds of his purchases being random are one in 440,000. Convex Labs, a tech startup, has come to the rescue by exposing such cases of insider trading and making the crypto markets transparent. Join The Tesler App as it is a user-friendly trading application that makes use of cutting-edge technologies to assist traders in making informed cryptocurrency investments.
Tokenomics
A fundamental concept in tokenomics is circulating supply. This is the total number of tokens in circulation, excluding those that have been burned or locked in some way. It can be divided into three parts: circulating supply, total supply, and max supply. Circulating supply is the number of tokens in circulation, while total supply refers to the amount of tokens in existence. The total supply can be confusing, since it does not take into account tokens that have been burned.
Phrases used by nft traders
There are several phrases that NFT traders may use in their conversations. A common example is the phrase “floor is lava,” which refers to the lowest price of an NFT project. While this is the lowest price a trader can start at, it is also a good entry point for new investors. Traders will use this phrase to emphasize the risk associated with low prices. Below, we will discuss three NFT trading phrases, including what they mean and how they’re used.
WL stands for “We’re all gonna make it”
WL stands for “We’re all going to make it”. In the NFT community, the word “whitelist” is an expression of optimism. This special list of people gains early access to drops of mint NFT. The general public competes to get on whitelists, which have various names related to the projects. However, the meaning is the same: getting early access to mint NFT.