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Web3 glossary

Fiat Money

Fiat money is a type of currency which is not backed by any asset but instead by the government that has issued it. It is designated as legal tender by the government that created it. There is an unlimited supply and more can be printed at any time.


When somebody flexes, it means they’re showing off. NFT owners usually flex their most valuable NFT by making it their profile picture on a social media platform, mainly on discord and twitter.


It is a trading strategy in the NFT space. Flipping refers to purchasing or minting an NFT at a low price and immediately selling it on an NFT marketplace.


The Flippening refers to the potential event when Ethereum will surpass bitcoin to become the world’s largest cryptocurrency by market cap.

Floor is Lava

Probably a game you’ve come across in your childhood but in the crypto space, it’s used to refer to a quickly rising floor price of an NFT collection.

Floor Price

The floor price refers to the lowest ‘Buy Now’ price for an NFT within a collection. It is one of the indicators used to evaluate an NFT collection. As the project gains popularity, the floor price rises with it. As the hype dies down and the project begins to lose its popularity, the floor price plummets with it.


FOMO is an acronym for “fear of missing out”. I’m sure you’ve already heard of this term in daily life. Well, in crypto it has a similar meaning with a hint of irrationality.

FOMO refers to when an individual makes a rash financial decision while trading or investing just because they think they are missing out on potential profits. This irrationality can have many consequences and can also lead to traders getting rekt.


A fork is said to occur when a blockchain splits into two separate branches. When a change is made to the protocol, it requires nodes to update their software. In the case of a hard fork, miners must update their software if they would like to continue their participation in the consensus mechanism.

Fractionalised NFTs

Fractionalised NFTs make it possible to divide ownership of an NFT. This is done by breaking it down into smaller fractions, each of which can be sold separately. This helps improve the liquidity of NFTs as it allows buyers to buy fractions of expensive NFTs that were inaccessible to them before.

FUD (Fear, Uncertainty, Doubt)

FUD is an acronym for fear, uncertainty and doubt. FUD happens when people begin to doubt a project or have a pessimistic outlook and begin to spread negativity online. It may also be used to manipulate the market. Fudders may use it to sweep up crypto at cheaper prices or to just sabotage a project they don’t like.

Fully Diluted Valuation (FDV)

Fully Diluted Valuation (FDV) refers to the total market cap of a cryptocurrency project by assuming all of its tokens are circulating. If you’d like to calculate this, you multiply the current market price of a token by its maximum supply.

Fungible Tokens

Fungible tokens are cryptocurrencies which meet all the requirements of fungible assets.

They are non-unique, divisible and have an agreed upon market value. For example, my $10 of Arweave would be worth the exact same as your $10 of Arweave.