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Emerge Blog

Minting the Future: A Deep Dive into NFTs and Essential Crypto Slang

Welcome to the future, where digital art sells for millions, tweets are worth their weight in gold, and even memes can fetch a pretty penny. These are the wonders of the booming Non-Fungible Token (NFT) market. Let's begin our journey with an essential action in the NFT world: minting.

What Does Minting an NFT Mean?

Minting is the process of turning a digital file into a one-of-a-kind digital asset on the blockchain, aka an NFT. When an NFT is minted, it is assigned a unique token that distinguishes it from any other token on the blockchain. It's akin to producing a distinct digital signature for a piece of digital content and then recording that signature on the blockchain.

The process of minting requires a transaction on the blockchain network (such as Ethereum), so it consumes some amount of cryptocurrency (known as gas on the Ethereum network) to complete.

Minting transforms a regular digital file into a unique, blockchain-verified asset. Once minted, the NFT can be bought, sold, or traded on various NFT marketplaces. Its ownership and transaction history can be traced back through the blockchain, establishing provenance and ensuring authenticity.

Navigating the Lingo: Essential Crypto Slang

With your newfound understanding of minting, let's dive further into the world of cryptocurrency and NFTs with some essential jargon.

1. Blockchain

A type of database that stores data in blocks chained together. It's decentralized, meaning it isn't stored in a single location and is accessible to anyone on the network.

2. Cryptocurrency

A digital or virtual form of currency that uses cryptography for security. Examples include Bitcoin, Ethereum, and Dogecoin.

3. Wallet

A digital wallet is used to store, send, and receive cryptocurrencies. It can also hold your NFTs. Wallets can be online (web-based) or offline (hardware devices or paper wallets).

4. Gas

This is the fee required to perform a transaction or execute a contract on the Ethereum blockchain. The amount of gas depends on the complexity of the transaction and network congestion.

5. Hodl

Originally a typo for 'hold', HODL has become a mantra in the crypto community, meaning to hold onto your cryptocurrency rather than sell it, even when the market is volatile.

6. Whale

A whale is an individual or organization that holds a significant amount of a specific cryptocurrency. Their transactions can significantly influence the market.

7. FUD

Fear, Uncertainty, and Doubt. These three words are used to indicate the spread of misinformation or negativity that might affect an asset's price or reputation.

8. DeFi

DeFi, or decentralized finance, refers to financial applications built on blockchain technologies, typically using smart contracts. It aims to democratize finance by eliminating intermediaries.

9. NFT

Non-Fungible Tokens. These are unique tokens representing ownership of a unique item or piece of content, stored on the blockchain.

10. Fiat

Government-issued currency, such as the US dollar, euro, or yen. It's what most people traditionally think of as "money."

11. Satoshi

The smallest unit of a bitcoin, named after Bitcoin's creator, Satoshi Nakamoto.


The world of NFTs and cryptocurrency can seem like a whirlwind of complex concepts and unusual slang. However, armed with the understanding of these terms, you're well-equipped to navigate this fascinating digital landscape. Remember, every innovative field comes with its language, and as with any language, fluency comes with time and practice. Happy minting!


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