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NFT glossary, every term explained
New to NFTs? Here's the plain-English meaning of the words you'll run into while creating, minting and launching, no jargon.
The essential NFT terms
NFT
A non-fungible token: a unique, verifiable record of ownership on a blockchain, usually tied to an image, collectible or membership.
Read more →Minting
The act of publishing an NFT to the blockchain for the first time, creating the on-chain token buyers can own.
Read more →Smart contract
The on-chain code that mints and manages your NFTs, it defines supply, price, royalties and ownership.
Read more →Gas fee
The network fee you pay the blockchain (not the platform) to process a transaction like minting or deploying.
Read more →IPFS
A decentralized storage network that keeps your NFT images and metadata permanent, instead of on one server that can go offline.
Read more →Metadata
The information attached to an NFT, its name, description, image link and traits, that marketplaces read to display it.
Read more →Wallet
A tool like MetaMask or Phantom that holds your crypto and NFTs and signs blockchain transactions.
Read more →ERC-721
The Ethereum standard for one-of-a-kind NFTs, where every token is unique.
Read more →ERC-1155
An Ethereum standard for editions, multiple copies of the same item under one contract.
Read more →SPL token
Solana's token standard, used for NFTs and coins on the fast, low-cost Solana network.
Read more →Rarity
How uncommon a trait or NFT is within a collection, rarer pieces are usually more valuable.
Read more →Trait
A single attribute of a PFP NFT, like background, eyes or accessory, combined to make each piece unique.
PFP
A 'profile-picture' NFT, a character collection like an ape or penguin, made by mixing traits.
Read more →Allowlist
Also called a whitelist: a list of wallets allowed to mint early or at a set price before public sale.
Read more →Floor price
The lowest price any NFT in a collection is currently listed for on a marketplace.
Royalties
A percentage of every secondary sale that goes back to the creator, set in the smart contract.
Read more →Airdrop
Sending NFTs or tokens directly to wallets for free, often to reward a community.
Read more →Reveal
Releasing the final artwork after mint, NFTs can be minted 'hidden' and revealed later.
Marketplace
A platform like OpenSea or Magic Eden where NFTs are bought, sold and traded.
Read more →Mint website
A hosted page with a mint button where buyers mint your NFTs, iMintify generates one on deploy.
Read more →Do I need to know all these terms to start?+
No. You can create and mint an NFT with iMintify without the jargon. This glossary is just here for when you are curious or want to go a level deeper.
How do I use this glossary?+
Skim the terms you keep running into. Where we have a full guide on a term, there is a Read more link that takes you to it.