Lexicon Intro
Aping in
Buying something without doing your research beforehand.
Artist
An artist is somebody who makes art. At NFTz we are talking about NFT artists. As these are artists that make NFTs.
Auction
An NFT which is open for bids. This is also mentioned in a period of time. Like running a 24-hour action. Means the NFT will be open for 24 hours to bid.
Bag holder
This is meant as a way of saying that you bought a crypto asset that doesn't have any value anymore cause of big price drops. You hold an empty bag.
Bear Market
A bear market means a market that goes down in price. Also used as in bearish. This is also used in the stock market and crypto market.
Bid
You can bid on a NFT which has an auction. To purchase an NFT you have need to made a bid first. With the "Buy Now" button there will be made a bid which will be immediately accepted.
Bot
A bot is an automated program. There are bots on DeSo that automatically buy NFTs or creator coins.
Bull Market
A bull market means a market that goes up in price. Also used as in bullish. This is also used in the stock market and crypto market.
Buy the Dip
When a crypto asset drops a lot, this creates a dip. Buying the dip means you buy in this period of time. When somebody says they bought the dip they bought at a period of time when there was a spike downwards.
Buy Now
Buy Now means the price you have to pay to get the NFT directly. Its a set price to receive the NFT.
Bitclout
Bitclout is the main website of the DeSo blockchain. It's the blockchain to which NFTz is connected.
BitCloutKids
An NFT project of the Krassenstein Twins and rfcloki. It’s inspired on the Garbage Pail Kids from the mid 1980’s.
Blockchain
A database which stores data all transactions. Transactions can be storing NFT’s but also transfers of diamonds, likes and comments.
Burn
Burn is the process of removing a NFT from the blockchain. When an NFT is removed from the blockchain it can't be bought anymore. Also you can't remint the NFT.
Collection
Your collection of NFT’s on nftz.zone. It’s possible to make multiple collections on your personal page.
Creator Coin
Each user (or with better words Creator) on the DeSo blockchain has a creator coin. It's like your personal crypto coin. You can buy your own coin and other people can also buy it. You can set the 'Founder Rate' to determine how much DeSo goes to the creator if people buy the coin.
Crypto
Any cryptocurrency can be associated with the word crypto. This can mean Bitcoin, Ethereum, DeSo and so on.
DAO
It stands for 'Decentralized Autonomonous Organization'. It's an organization that is run by a set of codes determined in a smart contract.
DAO Coins
Every creator on DeSo can create DAO (Decentralized Autonomonous Organization) coins. People can impose self-created features on these coins. Also, DeSo will implement new features for DAO coins.
DeSo
DeSo stands for Decentralized Social. The main site of DeSo is Bitclout.com. Its tightly connected to NFTz. If you post or mint on NFTz it will also be shown on the main site.
DiamondHands
The secret identity of Nader before he was known as Nader.
Diamonds
A portion of the Deso coin which creators can send to each other. It’s used to show appreciation for a post of an NFT.
DYOR
This stands for 'Do Your Own Research'. People mean it in a way; 'don't follow my/their advice but read about it yourself. '
Fiat
This means cash as in dollar ($) or Euro or any other valuta from other countries. It's the opposite of crypto coins.
Floor Price
The lowest 'Buy Now' price at which you can buy an NFT from a certain collection.
FOMO
FOMO stands for 'Fear Of Missing Out'. It's a phrase that's used for people who buy crypto cause they miss an opportunity if they don't so.
For Sale
All your current made and collected NFT's which you have open for bidding on bitclout.com
Founder(s) of NFTz
Nftz.zone is a project of the Krassenstein Twins and the van Halen Brothers. The Krassenstein Twins consisting of Ed Krassenstein and Brian Krassenstein. The van Halen brothers consisting of Martijn van Halen, Wouter van Halen and Bas van Halen.
Founder Rate
Each Creator Coin has a founder rate. In the beginning it is set to 100% so other people can't buy it. You can lower the founder rate so people can buy your coin. An acceptable rate is between 10-20%. The lower the founder rate the less the creator receives when somebody buys the coin.
Gas
The cost for minting a NFT on the blockchain. At certain blockchains the cost for minting is really high then they talk about high gas fees. On the DeSo blockchain the cost for minting is lower than $0.01.
Hard Close
When an auction stops exactly at a certain time. A hard close at 8 pm ET means that the auction of an NFT will close exactly at 8 PM ET. There won't be any extra time if there are new bids.
HODL
HODL also stands for holding a cryptocurrency. It's a meme that started because somebody made a typing error and actually meant to say Hold. HODL means you shouldn't sell a crypto asset but keep holding on to it because it will become worth more than now. It's usually said when a cryptocurrency has been going down a lot in worth.
Krassenstein
The Krassenstein twins consisting of Brian Krassenstein & Ed Krassenstein. The creator name on Deso is @Krassenstein.
Log in/ Login
You can Log in on nftz.zone so you can make bids on NFTs and customize your personal page. You can also mint NFT’s.
Mint
Minting is the process of putting a NFT on the blockchain. If you mint a NFT you can sell it to other persons on the blockchain.
Nader
Creator of the DeSo blockchain and the head of the DeSo foundation. His full name is Nader Al-Naji
NaderHeads
An NFT project of the Krassenstein Twins and the van Halen Brothers. It’s inspired on the creator of the DeSo blockchain Nader.
NFT
An NFT stands for 'Non-Fungible Token.' This is a digital asset that is placed upon the blockchain that can prove ownership and authenticity. As a fungible token it can be gifted, traded or sold for other assets. Although most people associate NFTs with pictures, commonly referred to as JPEGs, an NFT can be anything from:
Picture; art, avatars, stickers, etc.
Audio; music, speeches, podcast, etc.
Words; documents, story, poetry,
Video; movie, TV show, music video,
Subscription to a service
Real estate ownership
Access token
and much more
NGMI
'Not Going Make It.' This means the cryptocurrency won't survive. it's used when the market is pessimistic.
Octane Fund
The Octane Fund is a $50 million fund to fuel the already-thriving Decentralized Social developer ecosystem. In January 2021 the first projects received their funding. One of the projects was NFTz.
Owns
All your current made and collected NFT's that you currently own on bitclout.com
Secondary Market
All NFT's bought at least once and are currently open for bidding on bitclout.com
Seed Phrase
Every account has a unique seed phrase. It consists of multiple words in a certain order. Be very careful with giving a seed phrase to other people as it gives full access to your wallet.
Sniper/Snipered
During an auction somebody can do a last second bid. Sometimes with a very minimum amount extra $ or DeSo. People that do this are called snipers. Also being used in the context of being snipered.
Sold
All your NFT's that you have ever sold on bitclout.com
Transfer
Transfer is the process of sending a NFT from Person A to Person B.
To the moon
This phrase means a cryptocurrency will rise so much you see a line that goes straight up. Some people also show a rocket ship emoji. It's used when the market is optimistic.
Van Halen Brothers
The van Halen brothers consisting of:
Martijn van Halen (@mvanhalen)
Wouter van Halen (@MuchaSats)
Bas van Halen (@NFTvanHalen)
WAGMI
'We Are Going To Make It.' Everything will be alright. This cryptocurrency will be worth a lot.
Wallet
Your digital wallet where the DeSo coin is stored.
Wen Lambo
It's a phrase people use to know when a cryptocurrency goes up a lot. They become so rich they can buy a real Lamborghini.
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