W for WAGMI
Nineteenth edition of Web3 Alphabet
Web3 chatgroups are almost like a cult talking in code language, laden with slang and phrases. Let’s use this edition to crack the chat code, once and for all.
WAGMI
Our headliner WAGMI is an acronym for ‘We All Gonna Make It’, which is often used to express comradery among Web3 folks. For instance, when ARK’s CEO Cathie Wood says Bitcoin will be $1mn per coin by 2030, a valid response to that can be WAGMI. (She actually said that last year, listen in)
There are also some popular variations of WAGMI like GMI (Gonna Make It) and NGMI (Not Gonna Make It). GMI is obviously used to express an optimistic view of something, and NGMI is used to show regret over a decision or disagreement with some action. For example, Just sold my dogecoin, NGMI.
Interestingly, the origin of WAGMI and NGMI lies in the fitness world. The phrase ‘We’re all going to make it’ was coined by Aziz Shavershian (Zyzz), an Australian fitness influencer. Vice has a beautiful article tracing the movement of this phrase from fitness circles to the crypto world. Check it out.
Also, this is the guy, we are talking about here-
LFG
LFG is often accompanied by a 🚀 (rocket) symbol. The term stands for Let’s fucking go! Whether it is the launch of a new coin, project or an airdrop - LFG is your go-to slang.
Mint
Mint or Minting is used in the context of putting an art piece on the blockchain. (Example: You should mint an NFT of this portrait). To mint an NFT, one has to create a digital version of their art piece and then upload the file on an NFT marketplace like OpenSea, and SuperRare.
HODL
HODL or ‘Hold On for Dear Life’ refers to not selling your crypto holding even in extreme market conditions. The term first appeared in 2013 on a Bitcoin forum, when a member (GameKyuubi) misspelt the word HOLD. However, readers picked it up and it became somewhat of a rallying cry. It then got retrofitted to become an acronym for ‘Hold On for Dear Life.’
That’s all from W for WAGMI edition. If you enjoyed reading this, you can now buy me a coffee at this page - https://www.buymeacoffee.com/yattisoni0N
Some housekeeping: I believe there are not many Web3 terms starting from letters U, V, X, Y, and Z. So, I will now pick up readers’ suggestions like Defi, Dapp, and Whitelist. If you have any more, please send them across.
Until next time!