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The Ultimate NFT Glossary: All Terms Collectors Should Know

2026-06-30 18:58:49
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What is a non-homogeneous token (NFT)?

A non-homogeneous token (NFT) is a unique digital asset that can represent almost anything, including digital art, in-game items, Web3 domain names, and more.

Unlike interchangeable tokens, NFT is unique and cannot be replaced by another identical unit. The perceived value of an NFT depends on the assets it represents, and some can even be exchanged for a value equivalent to physical assets such as real estate.

NFT was originally launched on the Ethereum network, but is now available on multiple chains, including Solana, Polygon, Cardano and Tezos.

Types of NFT

NFT comes in many forms and has a wide range of application scenarios. The most common uses include:

1. NFT art: Digital artists distribute their work through a decentralized market. The decentralized nature of blockchain allows NFT holders to truly own their art.

2. NFT Collectibles: These are unique digital assets that belong to a certain series. Examples include CryptoKitties and CryptoPunks.

3. Web3 domain names: These are personalized crypto accounts that allow others to send you cryptocurrency without having to copy your blockchain address.

NFT terms should be known to every collector

Understanding the terms used in the NFT field is crucial for both beginners and experienced collectors. Here are some terms you should know:

1. Airdrop: The method used by blockchain projects to distribute cryptocurrency or NFT to individuals \'private Bitcoin wallets.

2. Alpha: Information about the NFT project may provide insights to those interested in the project.

3. Whitelist: A list of wallet addresses compiled by the NFT project before casting to ensure that certain people can get a place.

4. Imitator: \"Imitation\" in NFT projects means acquiring tokens shortly after launch without conducting thorough research.

5. Destruction: \"Destroying\" an NFT means taking that particular token out of circulation by placing it in a wallet that no one can access.

6. Floor price: The lowest price a buyer is willing to pay for NFT in a specific series.

7. Interchangeable: refers to the ability of a token to be interchangeable with another token. Non-interchangeable refers to tokens that cannot be copied.

More NFT terms you need to know

1/1: In the NFT field,\"1/1\" refers to unique works of art or digital collections, and only one example has been cast.

AI Art: Art created using artificial intelligence technology.

Aping: The act of quickly and aggressively acquiring new NFT projects or assets is often not fully studied.

Blue chips: NFT collectibles or projects considered to be of high value and stability.

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