Meaning of "Non-Fungible Token"
An abbreviation for "non-fungible token," it refers to a token that records and verifies the unique ownership (or rights) of a digital asset on the blockchain.
"He purchased an NFT to verify his ownership of the digital art."
Related slang words
Ripple ShorthandThis is a sarcastic remark referring to a situation where the price of Ripple (XRP) appeared to be rising but eventually returned to its original level; it’s a shorthand way of expressing reactions like “Did Ripple fool you again?”DecentralizationA state or method in which a system operates autonomously through consensus among multiple participants who share the responsibility for its operation, without a central authority or controller.Hash rateA metric used in mining-based cryptocurrencies such as Bitcoin that represents the total hash-computing power performed by the network per second, expressed in terms of hashes per second (H/s, TH/s, etc.)The Luna CrisisThis refers to a major collapse in which the price of the stablecoin Luna (LUNA) plummeted (by approximately 99%), triggering a cascade of massive losses and financial market instability.StakingThe act or system of staking (locking up) one’s own coins on a blockchain network to participate in its operation and earn rewards in returnJunk coinA derogatory term for niche altcoins with low market capitalization and limited technical value that are highly volatile; it typically refers to speculative or low-quality coinsEarned incomeIncome earned in exchange for work performed, such as wages and salaries arising from an employment relationshipRescue TeamA figure of speech describing a situation where investors recover their losses after a sharp price drop by capitalizing on a rebound