Since NFTs are a relatively new development in the modern world, there are many different terms that a business or someone interested in NFTs needs to be aware of. As an experienced NFT digital marketing agency, CratosAM is here to detail any relevant NFT terminology and terms that may leave business leaders and other important people in an organization confused.No matter if you are relatively experienced with NFTs or brand new, there are certain terms that you should know exist and that you need to be familiar with. Continue reading below to learn more from our South Florida digital marketing agency.
Important NFT Vocabulary
Below you will find some of the most popular NFT terminology available and what they mean. Our South Florida SEO company details more below:
- Bitcoin – Bitcoin is perhaps the most popular cryptocurrency in the world. This is a decentralized digital currency that can be given from user to user without intermediaries like PayPal.
- Blockchain – A blockchain is a database that is shared among computers in a network. The purpose of this database is to store information electronically. While this is technically a database, it is still decentralized storage and a record for different transactions.
- Floor price – This term is used throughout many different kinds of trading since it is used to describe the lowest entry price for a certain asset like a stock or an NFT.
- Rug pull – A rug pull is a scenario where a team behind creating an NFT suddenly abandons it, and investors are left with nothing to show for their investment.
- Mint/Minting – This term is used to describe the process of publishing an NFT and making it available for purchase.
- Secondary market – A secondary market is an independent market where an NFT or other digital asset could be sold after it is minted. One of the most popular is OpenSea.
- Flipping – Flipping and NFT are used similarly to when one purchases real estate or other tangible assets. This refers to buying items at a low price and selling them at a higher one so that the initial investor turns a profit. This is mostly used when NFTs are in high demand.
Why You Should Understand an NFT Glossary
Understanding all of the important terms and concepts that accompany NFTs makes it easier for businesses to understand their audience when they are beginning to develop them. A large part of communication and digital marketing is understanding what terms your audience is using because it allows them to relate to your business more effectively.
More About CratosAM
Aside from detailing NFT terminology and NFT terms to know, we are a specialized digital marketing agency that is dedicated to helping our clients leverage everything that the internet and digital marketing have to offer. Our staff is ready to assist you with content creation services, digital influencer management, South Florida SEO, South Florida local SEO, and South Florida PPC management. Contact our digital direct response marketing agency today to learn more.
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We’ll take a look into all aspects of your business, whether it be products, sales events, or launches. After this, we will blend NFTs into whatever the service may be! Doing this will allow for immaculate collaboration between all elements of your business.
We make it as simple as can be for our customers working alongside us. We take our understanding of digital advertising, marketing, public relations and merge it with your business to create seamless launches. Utilizing our staff that specialize in NFTs, we can oversee that all launches for your brand make a positive and lasting impact!