NFTs
Blockchain-verified ownership
NFTs, or non-fungible tokens, are unique digital certificates recorded on a blockchain that verify ownership of a specific digital asset—typically artwork, music, or collectibles.
Unlike cryptocurrency, each NFT is distinct and not interchangeable with another.
The technology exploded in popularity around 2021, with some digital artworks selling for millions: He spent his savings on NFTs of cartoon apes.
Critics question whether NFTs confer meaningful ownership or lasting value.
Cryptographic linked transaction record
- EthereumProgrammable blockchain network
- smart contractsSelf-enforcing coded agreements
- mintingProducing official currency
- walletSmall case for currency
metadata · tokenization · Solana · cryptographic · decentralized · interoperability · polygon · hashing
Computer-generated visual work
- collectiblesItems people amass
- generativeAble to produce or create
- avatarDigital user representation
- gallerySpace for displaying artwork
edition · rarity · trait · drop · creator · royalties · animation · pixel art
Venue for commerce
- floor priceLowest acceptable sale amount
- auctionCompetitive public sale
- flippingTurning over rapidly
- whaleHuge sea mammal
listing · bidding · volume · liquidity · speculation · profit · portfolio · paper hands
Games rewarding real money
- metaverseShared immersive digital universe
- wearablesBody-mounted tech devices
- skinsOuter animal coverings
- interoperableAble to work together
Gaming communication platform
- holderOne who possesses
- whitelistApproved access roster
- airdropParachute delivery from aircraft
- roadmapDetailed plan forward
utility · membership · access · exclusive · governance · verified · alpha · FOMO
Unproven theorizing or risky investment
- bubbleAir-filled film sphere
- scamDishonest money-making scheme
- rugpullFraudulent project abandonment
- environmental impactEffect on natural systems
energy consumption · money laundering · volatility · crash · worthless · hype · Ponzi · carbon footprint
blockchain
Cryptographic linked transaction record
- EthereumProgrammable blockchain network
- smart contractsSelf-enforcing coded agreements
- mintingProducing official currency
wallet · metadata · tokenization · Solana · cryptographic · decentralized · interoperability · polygon · hashing
digital art
Computer-generated visual work
- collectiblesItems people amass
- generativeAble to produce or create
- avatarDigital user representation
gallery · edition · rarity · trait · drop · creator · royalties · animation · pixel art · collaboration
marketplace
Venue for commerce
- floor priceLowest acceptable sale amount
- auctionCompetitive public sale
- flippingTurning over rapidly
whale · listing · bidding · volume · liquidity · speculation · profit · portfolio · paper hands · diamond hands
play-to-earn
Games rewarding real money
- metaverseShared immersive digital universe
- wearablesBody-mounted tech devices
- skinsOuter animal coverings
interoperable · rewards · breeding · staking · upgrade · inventory
Discord
Gaming communication platform
roadmap · utility · membership · access · exclusive · governance · verified · alpha · FOMO · shill
speculation
Unproven theorizing or risky investment
environmental impact · energy consumption · money laundering · volatility · crash · worthless · hype · Ponzi · carbon footprint · overpriced
- assetsproperty, cash, money, investments, bank accounts
- digital societysocial networks, internet, digital age, internet culture, digital natives
- 2020s trendssocial media, influencers, streaming, TikTok, Instagram
- digital contentfiles, blog posts, data, digital music, videos
- digital lifeapps, email, texting, web browsing, online shopping
- fadspet rocks, hula hoops, fidget spinner, mood rings, Tamagotchi
NFTscryptocurrency
Encrypted decentralized money
Bitcoin · Ethereum · fiat currency · stablecoins · cash
NFTstangible assets
Ownable items with substance
real estate · sculptures · traditional art · vinyl records · handwritten manuscripts
Historically recognized property rights
notarized documents · title deeds · public domain · open-source · creative commons
- NFT scamDeceptive digital token scheme