{"id":2913,"date":"2022-06-28T09:00:00","date_gmt":"2022-06-28T14:00:00","guid":{"rendered":"https:\/\/flolio.com\/resources\/?p=2913"},"modified":"2022-08-26T05:04:31","modified_gmt":"2022-08-26T10:04:31","slug":"ngmi-wagmi","status":"publish","type":"post","link":"https:\/\/flolio.com\/resources\/ngmi-wagmi","title":{"rendered":"What is NGMI and WAGMI?"},"content":{"rendered":"\n<p>The rise of the non-fungible token from a little-known digital item into a multi-million dollar market has created a unique community of adoptees that use social media sites and chat groups to interact and share ideas.<\/p>\n\n\n\n<p>Because of the novelty of NFTs and the exclusivity of these groups, crypto enthusiasts have developed a vast number of acronyms, crypto slang, and abbreviations that outside investors often have trouble understanding.<\/p>\n\n\n\n<p>Those new to the NFT space are usually confused by the frequent use of shorthand terms such as &#8220;GM,&#8221; &#8220;HODL,&#8221; and &#8220;DIAMOND HAND,&#8221; and have trouble catching the meaning of certain conversations.<\/p>\n\n\n\n<p>Two of the most commonly used acronyms in the crypto world are &#8220;NGMI&#8221; and &#8220;WAGMI.&#8221; The terms are so widely used amongst NFT projects that understanding them is key for any beginner seeking to fit in with the community.<\/p>\n\n\n\n<p>The two acronyms are related and broadly pertain to the future success of a cryptocurrency, NFT collection, or NFT community: NGMI stands for &#8220;Not going to make it&#8221; and WAGMI stands for &#8220;We are all going to make it.&#8221;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a0d40da416aa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a0d40da416aa\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#History\" >History<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#Understanding_NGMI\" >Understanding NGMI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#How_to_Use_NGMI\" >How to Use NGMI<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#Using_Caution\" >Using Caution<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#NGMI_Examples\" >NGMI Examples<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#Understanding_WAGMI\" >Understanding WAGMI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#How_to_Use_WAGMI\" >How to Use WAGMI<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#WAGMI_Examples\" >WAGMI Examples<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#Alternative_Terms\" >Alternative Terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/flolio.com\/resources\/ngmi-wagmi\/#Summary\" >Summary<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"History\"><\/span>History<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>While the origins of both slang words are difficult to determine, many trace each acronym to the Australian bodybuilder Aziz Sergeyevich Shavershian (Zyzz), who developed a cult following in the late 2000s after he began to post videos of himself on YouTube.<\/p>\n\n\n\n<p>Zyzz would occasionally use the phrase We Are All Gonna Make It (Brah) in many of his videos, and the saying caught on among his audience. In March 2021, some of the bodybuilder&#8217;s inspirational speeches were uploaded to YouTube clearly showing the bodybuilder using the term.<\/p>\n\n\n\n<p>While Zyzz sadly passed away in August 2011 from a heart attack, his words live on in the crypto community.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_NGMI\"><\/span>Understanding NGMI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>NGMI means that a project or a group is \u201cNot Going To Make It.\u201d In its strictest sense, the acronym has a negative connotation and signifies that a crypto or NFT project is going to fail, or has a price that is trending downward.<\/p>\n\n\n\n<p>When applied to a person, NGMI indicates that the investor in question has taken a foolish action or made a bad decision that will result in a financial loss.<\/p>\n\n\n\n<p>Ultimately, the crypto community uses NGMI when they want to ridicule people with negative crypto opinions or who don&#8217;t understand the basics of NFTs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Use_NGMI\"><\/span>How to Use NGMI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>NGMI can sometimes be used in a self-deprecating way to highlight a missed opportunity in the NFT world.<\/p>\n\n\n\n<p>However, the NGMI meaning is usually applied to investors outside the crypto community who hold negative opinions about the future of NFTs and cryptocurrency in general. It can also be applied to members of an NFT project that take foolish actions that undercut the long-term goals of the collection.<\/p>\n\n\n\n<p>Common actions that elicit the use of the NGMI crypto slang include the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Members of an <a href=\"https:\/\/flolio.com\/resources\/nft-floor-price\">NFT collection that price their NFTs below the floor price<\/a> to make a quick profit.<\/li><li>NFT holders who frequently change the selling price of their NFTs in an attempt to sell their crypto assets faster.<\/li><li><a href=\"https:\/\/flolio.com\/resources\/nft-flipping\">NFT owners who rapidly flip NFTs without paying attention to the profits<\/a> and losses they incur.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Using_Caution\"><\/span>Using Caution<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As NGMI is ultimately an insult that defines a group or a project as a future loser, it&#8217;s important to use discretion when directing the word at others. Because of its negative meaning, members of a group could construe the language as a sign of disrespect, leading to an awkward situation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NGMI_Examples\"><\/span>NGMI Examples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The recent week of May 9, 2022, has been referred to as the start of another &#8220;crypto winter.&#8221; During the week, <a href=\"https:\/\/flolio.com\/resources\/bitcoin-vs-ethereum\">Bitcoin prices plunged over 25% and several other cryptocurrencies<\/a> and NFT collections shed value.<\/p>\n\n\n\n<p>In the following <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/twitter.com\/LadyofCrypto1\/status\/1527262439045271554?s=20&amp;t=nKRCEDlnD2CVKkesUK2dBw\">tweet<\/a>, one user ridicules investors for not taking advantage of the lower prices resulting from the crash and for losing confidence in the crypto space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_WAGMI\"><\/span>Understanding WAGMI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The corollary of NGMI, WAGMI stands for &#8220;We&#8217;re all gonna make it.&#8221; The word is an expression of confidence in the long-term future of a group of <a href=\"https:\/\/flolio.com\/resources\/ep10\">investors or an NFT<\/a> project.<\/p>\n\n\n\n<p>The use of WAGMI is also meant to elicit a feeling of camaraderie amongst a group and the language implies a sense of togetherness and belief in the face of risk or uncertainty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Use_WAGMI\"><\/span>How to Use WAGMI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The WAGMI crypto slang can be used in several different contexts, but the most common involves <a href=\"https:\/\/flolio.com\/resources\/where-to-buy-nfts\">buying an NFT<\/a> or cryptocurrency in the early days of its launch and holding it until the price surges.<\/p>\n\n\n\n<p>Discord, Reddit, and Twitter groups are often filled with the WAGMI acronym after a project skyrockets as holders congratulate each other and show they believe in the long-term success of the project.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"WAGMI_Examples\"><\/span>WAGMI Examples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the following <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/twitter.com\/SeniormanMI\/status\/1526281856760565765\">tweet<\/a>, a Twitter user expresses his faith in the Wandering Nahavi NFT project recently created on the Solana blockchain. The user lauds the community surrounding the project and uses WAGMI to show that all holders are &#8220;in a good spot&#8221; and will receive positive future returns.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Alternative_Terms\"><\/span>Alternative Terms<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Below are slang terms similar to NGMI and WAGMI that can often be used interchangeably.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>WGMI: stands for &#8220;We&#8217;re Going to Make It&#8221;<\/li><li>GMI: stands for &#8220;Going to Make It&#8221;<\/li><li>YGMI: stands for &#8220;You&#8217;re Going to Make It&#8221;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Summary\"><\/span>Summary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Understanding the NGMI and WAGMI abbreviations will go a long way towards helping you communicate in crypto groups, which are extremely important in staying updated on a certain project and gauging the sentiment of the group.<\/p>\n\n\n\n<p>More and more people are now using chat groups such as Discord to discuss upcoming NFT drops, as well as understand the pros and cons of certain projects. Many describe the process of engaging and interacting in such settings as almost like an education in itself.<\/p>\n\n\n\n<p>Ultimately, WAGMI and NGMI stand for more than meaningless crypto slang. For many, they represent a way of life that embraces the risk inherent in NFTs and provide a sense of community in the face of those who doubt the viability of cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What does NGMI stand for? What does WAGMI stand for? Discover these important NFT acronym meanings.<\/p>\n","protected":false},"author":4,"featured_media":2915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"What is NGMI and WAGMI? | FLOLiO","_seopress_titles_desc":"What does NGMI stand for? What does WAGMI stand for? 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