In addition to the below list you might like to check out this twitter thread of 50 common terms:
The Bored Ape Yacht Club, or BAYC, is the largest NFT avatar by market capitalization . The BAYC collection consists of 10,000 unique NFTs, algorithmically generated from over 172 possible traits which determine each ape's rarity.
Etherscan is the leading Blockchain Explorer, Search, API and Analytics Platform for Ethereum, a decentralized smart contracts platform.
Friends With Benefits social club runs on crypto and vibes Members with at least one $FWB token (current price: around $45) can read the group’s newsletters and blog posts. Local membership, which requires holding at least five tokens, comes with limited access to group chat rooms on Discord, a talking and texting app, as well as access to offline events. The global membership costs $75FWB – about $3,400 today – and includes access to all Discord chat rooms
GM / Good Morning refers to the use of the greeting "GM" in NFT Twitter circles as an abbreviation for "good morning." Although the exact origin of its use in these circles is unknown, interest in its use was first searched for online in January 2017. However, its actual use on Twitter is traceable to early 2018. In 2021, its use in these circles was more prevalent, garnering meme attention and criticism from outsiders who viewed it as a form of gatekeeping within the community.
Governance tokens are cryptocurrencies that represent voting power on a blockchain project. They represent the main utility token of Defi protocols since they distribute powers and rights to users via tokens. With these tokens, one can create and vote on governance proposals
Layer 1 blockchain
Layer 1 refers to a base network, such as Bitcoin, BNB Chain, or Ethereum, and its underlying infrastructure Layer-1 blockchains can validate and finalize transactions without the need for another network.
Layer 2 blockchain
Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. Layer 2 allows you to massively cut down data processing on the blockchain by running computations off-chain. The base chain will still be the ultimate judge (arbiter) when there are disputes ). Taking transactions off the base layer, while still anchored to it, frees up processing resources to do other things while still getting the security and decentralization benefits.
Minting is the process of creating or producing something. In the blockchain, minting means, validating information, creating a new block,, and recording that information into the blockchain. For example, someone can mint an NFT or mint a new cryptocurrency.
NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectibles, and even real estate. They can only have one official owner at a time and they're secured by the blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.
OpenSea is the leading marketplace for non-fungible tokens . The platform lets users buy and sell NFTs on the secondary marketplace and also create their own NFT collections to sell on the primary marketplace
POAP (pronounced poh-ap) is an acronym for Proof of Attendance Protocol. These NFT badges are given out to prove attendance of an event, whether it took place virtually or in the real world. Each badge is unique, meaning that the only way to get a certain POAP is to be at the event.
Protocols are basic sets of rules that allow data to be shared between computers For cryptocurrencies, they establish the structure of the blockchain — the distributed database that allows digital money to be securely exchanged on the internet.
A rug pull is a type of crypto scam that occurs when a team pumps their project’s token before disappearing with the funds, leaving their investors with a valueless asset. Rug pulls happen when fraudulent developers create a new crypto token, pump up the price, and then pull as much value out of them as possible before abandoning them as their price drops to zero.
These are a type of cryptocurrency that is based around a brand, community, or influencer. Basically, it’s a way for internet groups or celebrities to further monetize themselves beyond the typical means.
Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies – safe and accessible, allowing you to send and receive cryptocurrencies like Bitcoin and Ethereum. Wallets can be hardware wallets like Ledger (which looks like a USB stick) or digital wallets like metamask, coinbase, phantom.
There is also a great Twitter thread with 50 terms which you may find useful:
Misha on Twitter: "Web3 lingo is confusing.This list of 50+ terms will get you up to speed (fast): / Twitter"
Web3 lingo is confusing.This list of 50+ terms will get you up to speed (fast):