web3 simplified

Fungible = mutually interchangeable; something that can be replaced by another identical item Example: 1 dollar bill traded / replaced for another 1 dollar bill

“I think people should become an #NFT collector before becoming an NFT creator so that they can learn the ins and outs of launches, community, etc.” - @iSocialFanz on the @NFT365podcast podcasts.apple.com/us/podcas…

For some people #NFTs are a way to fund their business or their mission in life. Was just listening to a Twitter space where a guy has an idea to turn empty and abandoned lots in his city into green spaces. His idea is to sell NFTs to do that. #NFTCommunity

web 1 - website web 2 - social media web 3 - community

Blue chip = a collection of NFTs that is considered top tier generally because of their price per NFT and/or utility. #NFT #NFTs #NFTeducation

#HODL = hold on for dear life usually refers to #crypto coins or #NFTs and is a general recommendation to hold them and not sell them in a panic when the price drops

Verify Document vs Verify Data With most legal documents we have to verify a signature in front of someone. We might need to take the document and get it notarized, signing it in front of witnesses.

Shill = give a sales pitch for your NFT project / crypto currency / other project. Similar to “promotion” or “sales pitch”

#HODL = hold on for dear life usually refers to #crypto coins or #NFTs and is a general recommendation to hold them and not sell them in a panic when the price drops

In the @NFT365podcast, @iSocialFanz shares how people ask “where can I find a great NFT project?” His answer: buy an #NFT (not financial advice) and in that community find people you vibe with. Ask them what their favorite NFT project is. Buy NFT, Find Community, Find NFTs

Having #crypto or #NFTs stolen from a hacker, bot, rug pull, or DM scam is getting all too common. Here's a few ways that you can protect your #cryptocurrency and #NFT collection: NFT & Crypto Security Basics 🧵

When purchasing your 1st couple of #NFT’s there’s a couple of things you should consider other than the price: 1 - Do you like the artwork? 2 - Is there a mission attached to the #NFT roadmap and community that you are passionate about / agree with? (1/2)

Whitelist = you are approved to mint an NFT before the project is open to the public #NFT #NFTs #NFTeducation

Use case for NFTs #2 🧵 An #NFT can be the ticket for an event. People buy tickets through Ticketmaster for sporting events, concerts, etc. all the time. Ticketmaster then provides a digital ticket to be held in a wallet on your phone. An NFT ticket would be similar.

Immediate Utility vs Projected Utility of an #NFT as heard on EP 30 of the @NFT365podcast with @iSocialFanz

Prediction: Buying and selling houses in the future will use smart contracts, #NFTs and #cryptocurrency Agent: Lists house Title Agency: Creates smart contract Seller: Title is an NFT for the house in their wallet Buyer: $eth in their wallet Closing: Sign the smart contract

FUD = fear, uncertainty, and doubt In the web3 space FUD is usually used to refer to the panic that people can feel when the price of a coin, #cryptocurrency, or #NFT goes down.

fr = friend request

Flippers = someone who buys and NFT and then tries to sell it for more money, usually right after purchasing it. #NFT #NFTs #NFTeducation

Blockchain = when computers are linked together through the internet in a network. The computers then track and verify (by double-checking each other) when information (files and data) is transferred from place to place. #NFT #NFTs #NFTcommunity