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"Your step-by-step guide to learn all about the NFT ecosystem."

Word of the day

Action Game

noun - ˈækʃ(ə)n geɪm

Game where you won't have to think of a strategy to win.

Glossary

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Action Game

noun - ˈækʃ(ə)n geɪm

Game where you won’t have to think of a strategy to win.

Airdrop

noun - ˈɛrdrɑp

Free gift sent directly on a wallet.

Arcade Game

noun - ɑrˈkeɪd geɪm

Basic gameplay but require skill to finish the game

Asset

noun - ˈæsɛt

An asset represents a digital store of value hosted on a blockchain. Can be fungible (token) or not (non-fungible token).

Auction (Dutch)

noun - ˈɔːkʃ(ə)n (dʌʧ)

Type of auction created by the Dutch where an asset price is decreasing during a defined period of time.

Auction (English)

noun - ˈɔːkʃ(ə)n (ˈɪŋglɪʃ)

Type of auction created by the English where an asset price is increasing during a defined period of time.

Bear Market

noun - beə ˈmɑːkɪt

Market period when sellers outnumber buyers.

Bearish

adjective - ˈbeərɪʃ

Being pessimistic about a project or a news

Bid

noun - bɪd

Offer made by a buyer.

Bidirectional Channel

noun - ˌbaɪdɪˈrɛkʃən(ə)l ˈʧænl

Communication channel open for a certain period of time between two parties that allows both to send and receive crypto.

Bitcoin

noun - bɪtkɔɪn

The first decentralized Cryptocurrency in history, often referred to as Digital Gold. This term refers to the cryptocurrency (also called BTC) and the blockchain network. Originating after the 2008 financial crisis and the first to utilize a decentralized P2P network.

Block Explorer

noun - blɒk ɪksˈplɔːrə

Blockchain search engine for transaction, wallet and smart contract.

Blockchain

noun - blɒkʧeɪn

Decentralized ledger where the cryptocurrencies’ transactions are registered and verified.

Blockchain Game

noun - blɒkʧeɪn geɪm

Using a decentralized blockchain rather than a centralized server. In-game NFT assets are distributed across the network and are interoperable between games. Their scarcity is verifiable.

Bridge

noun - brɪʤ

Tool to transfer token or cryptocurrency from a protocol to another. For example: bridging ETH from Polygon to Ethereum.

Buidl

noun - ˈbɪldəz

People working on the different use-cases linked to a blockchain. The misspelling is in reference to the famous HODL.

Bullish

adjective - ˈbʊlɪʃ

Being optimistic about a project or news.

Burn

verb - bɜːn

Action to reduce the supply of a token.

Casual Game

noun - ˈkæʒjʊəl geɪm

Basic gameplay with short-timed attention required

Cold Wallet

noun - kəʊld ˈwɒlɪt

Crypto wallet disconnected from internet

Collectibles

noun - kəˈlɛktəbəlz

A project, the aim of which is to be collected. They may be avatars (PFP), animals, aliens or any other type of digital item. These collectable assets may have several uses from forming part of a community and being used for video games.

Crypto Artist

noun - ˈkrɪptoʊ ˈɑrtəst

Originally said for artists being part of the crypto-art movement. Used today for creatives, including visual artists, musicians and filmmakers who choose to publish their work as an NFT on a blockchain.

Cryptocurrency

noun - ˈkrɪptoʊˈkɜrənsi

Running on a trustless peer to peer network, cryptocurrencies transactions are verified and maintained by a decentralized system of computer nodes using cryptography.

Cryptographic

noun - ˌkrɪptəˈgræfɪk

Which uses encryption algorithms to transmit data securely.

Decentralized Apps (Dapps)

noun - dɪˈsɛntrəˌlaɪzd æps (dæps)

Dapps stand for Decentralized applications. They are an interface for smart contracts and are not controlled by a centralized source.

Decentralized Autonomous Organization (DAO)

noun - dɪˈsɛntrəˌlaɪzd ɔˈtɑnəməs ˌɔrgənəˈzeɪʃən

Group of individuals forming an online organization to support a cause or to create an independent community. Their governance decisions are made through a decentralized processus.

Decentralized Finance (DeFi)

noun - diːˈsɛntrəlaɪzd faɪˈnæns (diːfaɪ)

Decentralised finance represents many of the usual financial products we are used to including loans and bonds but using the exchange of crypto tokens.

Delegated Proof of Stake (DPoS)

noun - dɛlɪgeɪtɪd pruːf ɒv steɪk (diː piː əʊ ɛs)

Method used to validate transactions on the blockchain through delegating the voting power to a trusted authority, such as EOS or WAX.

Dump

verb - dʌmp

Sale that causes an asset to lose value.

Dungeon Crawling

noun - ˈdʌnʤən ˈkrɔːlɪŋ

Game where the main goal is to finish dungeons.

DYOR

verb - ˈdaɪə

Acronym for ‘Do Your Own Research’. Meaning you should do some research about the team, the project, the tokenomics of a project.

Engagement Transaction

noun - ɪnˈgeɪʤmənt trænˈzækʃən

A type of transaction that occurs only when a channel on the Lightning Network (second layer of Bitcoin) is opened. It saves on Bitcoin the current state of exchanges between the parties without closing the channel.

EOSIO protocol

noun - iː-əʊ-ɛs-aɪ-əʊ ˈprəʊtəkɒl

Delegated Proof of Stake protocol created by EOS.IO. This protocol can be cloned to create its own blockchain. Two blockchains are using this protocol: EOS and WAX.

ERC

noun - iː-ɑː-siː

Ethereum Request for Comment, token standard for the Ethereum network.

ERC-20

noun - iː-ɑː-siː20

The token standard for fungible tokens on Ethereum.

ERC-721

noun - iː-ɑː-siː721

The token standard for Non-Fungible Tokens on Ethereum.

Ethereum

noun - ˈiθərˈriəm

Blockchain using a Proof of Work consensus to become a decentralized programmable software platform. It allows developers to create Dapps without building their own blockchain. Its native currency is Ether or ETH.

Fast-paced

adjective - fɑːst-peɪst

A game where the rhythm of the actions is quick and requires good reflexes.

Fear, Uncertainty and Doubts (FUD)

noun - fɪə, ʌnˈsɜːtnti ænd daʊts (ɛf-juː-diː)

Acronym for Fear, Uncertainty and Doubts. Used when unverified informations are being shared, causing a loss of legitimacy of a project.

Fees

noun - fiːz

Each action or transaction on the blockchain requires a fee. On Ethereum, the Gas is the fee you pay and its prices fluctuate depending on the network’s utilisation.

First Person Shooter (FPS)

adjective - fɜːst ˈpɜːsn ˈʃuːtə (ɛf-piː-ɛs)

Game where the camera is showing what the character sees through his eyes.

Flippers

noun - ˈflɪpəz

Trader who buys low to sell at higher price on a short period of time.

Floor Price

noun - flɔː praɪs

Lowest ask of an NFT collection.

Fungible Token

noun - ˈfʌnʤɪbəl ˈtoʊkən

Fungibility is an assets ability to be interchanged with another asset of the same nature and quality. A Fungible Token isn’t unique and be exchange with the same token.

GM

noun - ʤiː-ɛm

Acronym for Good Morning. Someone is wishing you a good morning. Will you answer good morning?

GN

noun - ʤiː-ɛn

Acronym for Good Night. Someone is wishing you a good night. May also be used to say goodbye to a project.

Hardware Wallet

noun - ˈhɑːdweə ˈwɒlɪt

Physical crypto wallet. An interaction in real world is needed to send a transaction.

Hodlers (HODL)

noun - ˈhəʊdləz (eɪʧ-əʊ-diː-ɛl)

Crypto slang for a person who holds their assets for a long time as opposed to flipping assets on a trade. First coined in 2013 on the Bitcoin Forum by an allegedly inebriated user with the now iconic phrase, ‘I AM HODLING’.

Hot Wallet

noun - hɒt ˈwɒlɪt

Online crypto wallet (always connected to the Internet).

Initial Coin Offering (ICO)

noun - ɪˈnɪʃəl kɔɪn ˈɒfərɪŋ (aɪ-siː-əʊ)

Way of fundraise a project through a token sale.

Know Your Customer (KYC)

noun - nəʊ jɔː ˈkʌstəmə (keɪ-waɪ-siː)

Procedure requiring identity verification (phone number, ID, photo…) before making a purchase or registration on a platform.

Lightning Network

noun - ˈlaɪtnɪŋ ˈnɛtwɜːk

Second Layer Protocol for Bitcoin. Created to scale Bitcoin in order to send more, cheaper and faster transactions.

Liquidity Pool

noun - lɪˈkwɪdɪti puːl

Resource used in Decentralized Finance to ensure liquidity between two tokens or cryptocurrencies. Learn more in our Liquidity Mining chapter.

Management Game

noun - ˈmænɪʤmənt geɪm

Every virtually simulated ecosystem like a city or a life need to be managed.

Marketplace

noun - ˈmɑːkɪtpleɪs

Platform to exchange digital assets.

Massively Multiplayer Online (MMO)

noun - ˈmæsɪvli ˌmʌltɪˈpleɪər ˈɒnˌlaɪn (ɛm-ɛm-əʊ)

Game where players can play online each others in a virtual world.

Metadata

noun - ˈmɛtə-ˈdeɪtə

Properties related to a token. I.e: number of edition, traits, quality, attributes, etc.

Metaverse

noun - ˈmɛtəvɜːs

Interconnected virtual worlds. NFTs mainly represent virtual land, they can also take the form of ‘wearables’ and and accessories to personalize your avatar.

Miners

noun - ˈmaɪnəz

Miners are computers running software connecting them to the network, using their time and computing power to process transactions and create blocks which are added to the Blockchain.

Mining

verb - ˈmaɪnɪŋ

Achieved by powerful computers connected to the Ethereum network and solving complex mathematical problems. This PoW or Proof of Work mining system gives ‘Miners’ Ethereum rewards for the work done.

Mint

verb - mɪnt

Minting is the process of creating an NFT, you can ‘Mint’ your own tokens by writing an NFT contract or use one of the many platforms dedicated to the creation of NFT.

Node

noun - nəʊd

Nodes are used to keep the record of every transaction that occurred on the blockchain. Can be used to validate transaction, keep a partial or a full record of the transactions.

Non-Fungible Token (NFT)

noun - nɑn-ˈfʌnʤɪbəl ˈtoʊkən (ɛn-ɛf-ti)

A unique digital asset, Non-Fungible means each asset is individual and can’t be replaced with another. Humans are Non-Fungible. The Token is information which is validated and held on a suitable Blockchain.

Off-chain

noun - ɒf-ʧeɪn

Any action made outside a blockchain (Credit Card payement, Web2 login…).

On-chain

noun - ɒn-ʧeɪn

Any action recorded on blockchain (transaction, transfer, mint, etc.)

Open World

noun - ˈəʊpən wɜːld

Used when the whole map is accessible for exploration to the player.

Pictures for Profile (PFP)

noun - ˈpɪkʧəz fɔː ˈprəʊfaɪl (piː-ɛf-piː)

Digital avatars that have been generated through an algorithm.

Play To Earn (P2E)

noun - pleɪ tuː ɜːn (piː2iː)

Where time spent within a game can be monetized. For example by selling in-game objects you obtained on an open market or by leasing out your earned (digital assets, land, wearables, etc.)

Private Key

noun - ˈpraɪvɪt kiː

Private address used to send transactions. This should be kept secret. NEVER share your private key!

Proof of Authority (PoA)

noun - pruːf ɒv ɔːˈθɒrɪti (piː əʊ eɪ)

Method used to validate transaction on the blockchain by a small group of trusted authority.

Proof of Stake (PoS)

noun - pruːf ɒv steɪk (piː əʊ ɛs)

Method used to validate transaction on the blockchain through staking a cryptocurrency.

Proof of Work (PoW)

noun - pruːf ɒv wɜːk (piː əʊ ˈdʌblju(ː))

Method used to validate transaction on the blockchain through solving equations with computational calculations.

Public Key

noun - ˈpʌblɪk kiː

Public address to receive crypto transactions.

Pump

verb - pʌmp

Market movement that causes an asset to earn value.

Real Time Strategy (RTS)

noun - rɪəl taɪm ˈstrætɪʤi (ɑː-tiː-ɛs)

Game to build an empire in real-time, meaning your competitors are doing the same and can attack you at any moment.

Rekt

noun - rɛkt

A familiar word used to describe a brutal and savage loss, usually referring to a negative financial investment.

Roadmap

noun - rəʊdmæp

Future objectives of a project.

Role Playing Game (RPG)

noun - rəʊl ˈpleɪɪŋ geɪm (ɑː-piː-ʤiː)

Role Playing Game, a gaming genre based on your control of a character in a digital world. The character can be developed overtime through attaining quests and overcoming challenges.

Satoshis

noun - sɑˈtoʊʃiz

Smallest unit of Bitcoin. 1 satoshi represents 0.00000001 BTC

Second Layer

noun - ˈsɛkənd ˈleɪər

Overlay of a blockchain used to provide additional functionality while keeping the security of the first layer (i.e Lightning Network and Bitcoin).

Seed Phrase

noun - siːd freɪz

12 or 24 words used to recover your crypto-wallets. The backup of the Seed Phrase should not be hidden in the same room as the wallet.

Semi-Fungible Token (SFT)

noun - ˈsɛmi-ˈfʌnʤɪbəl ˈtoʊkən (ɛs-ɛf-ti)

SFT is a mix between a Non-Fungible Token and a Fungible Token. Much like Fungible Tokens to the developer but to the end user the token functions as an indistinguishable copy of another token in the same set. SFT can be sold as either a bundle of the same token or individually.

Signature

noun - ˈsɪgnɪʧə

Action where the signature from the crypto-wallet is needed. Used to prove your identity (by owning the private key).

Smart Contract

noun - smɑːt ˈkɒntrækt

A program which runs on a Blockchain, a collection of code and data that has been stored at a specific address on its Blockchain. A type of pre-programmed account with pre-defined functions. User accounts interact by submitting transactions, the code enforces the rules.

Social Token

noun - ˈsəʊʃəl ˈtəʊkən

Token linked to an individual or organization with the objective of promoting a community and their social interactions.

Strategy Game

noun - ˈstrætɪʤi geɪm

Game where a strategy is needed to move forward.

Token

noun - ˈtəʊkən

Mostly distributed during ICO or Airdrop, tokens are dependents on a cryptocurrency and its blockchain. They usually meet a standard like ERC so that the rest of the Ethereum blockchain can interact with them.

Trading Card Game (TCG)

noun - ˈtreɪdɪŋ kɑːd geɪm (tiː-siː-ʤiː)

Card game where players fight against other players or collect rare cards.

Transaction

noun - trænˈzækʃən

Action on a blockchain which sends crypto-currency or interacts with a smart contract to store or initiate different programs. For example: Transferring an NFT.

Transaction Per Second (TPS)

noun - trænˈzækʃən pɜː ˈsɛkənd (tiː-piː-ɛs)

Number of transaction validated on the blockchain per second.

Voxel

noun - vɑksɛl

3D version of a pixel.

Wallet

noun - ˈwɒlɪt

Crypto-wallet to store crypto-currency and tokens.

Whale

noun - weɪl

Wealthy wallet with a valuable portfolio of cryptocurrency, NFT assets or both.

Zk-Rollup

noun - zikeɪ roʊlʌp

Signature method used to reduce transaction fees.

Zk-SNARKs

noun - zikeɪ ɛs-ɛn-eɪ-ɑr-keɪz

Method used to validate transaction anonymously.

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