Art3Lab Web3 Glossary

AirdropFree distribution of tokens or NFTs to users, often as a reward or promotional strategy. (NFT Infrastructure)

AllowlistA pre-approved list of wallet addresses granted early access to mint NFTs before public release. (NFT Infrastructure)

ArbitrumA Layer 2 scaling solution for Ethereum using optimistic rollups to reduce gas fees and increase transaction throughput. (Blockchain Infrastructure)

AvalancheA high-performance Layer 1 blockchain supporting smart contracts and custom subnets. (Blockchain Platform)

Avatar NFTA digital character or profile image used in social platforms or metaverses, often part of a collectible series. (NFT Asset)

BaseA Layer 2 blockchain developed by Coinbase using the OP Stack. (Blockchain Infrastructure)

Bitcoin OrdinalsA method for inscribing data directly onto individual satoshis on the Bitcoin blockchain. (NFT Protocol)

BlockchainA decentralized, immutable ledger used to record transactions across a network. (Technical Infrastructure)

Blockchain BridgeA protocol that enables interoperability between different blockchains. (Technical Infrastructure)

Blockchain TrilemmaA theory describing the challenge of achieving scalability, security, and decentralization simultaneously. (Conceptual Framework)

BNB ChainBinance’s dual-chain architecture optimized for fast, low-cost transactions. (Blockchain Platform)

CollectionA themed group of NFTs, often with shared traits and rarity structures. (NFT Asset)

Consensus MechanismProtocols that validate transactions and maintain blockchain integrity. (Technical Infrastructure)

Creator RoyaltiesA percentage of secondary NFT sales paid to the original creator. (NFT Utility)

CryptocurrencyDigital currency secured by cryptography, typically operating on a blockchain. (Token Type)

Custodial WalletA wallet managed by a third party that holds private keys on behalf of the user. (Security Tool)

DAO (Decentralized Autonomous Organization)A community-led entity governed by smart contracts and token holders. (Governance Model)

DApp (Decentralized Application)Applications built on blockchain platforms that operate without centralized control. (Application Type)

DeFi (Decentralized Finance)Blockchain-based financial services that operate without intermediaries. (Financial Protocol)

EIP (Ethereum Improvement Proposal)A formal document proposing changes to the Ethereum protocol. (Protocol Standard)

ERC-1155A flexible standard allowing both fungible and non-fungible tokens. (Multi-Token Standard)

ERC-20The standard for fungible tokens on Ethereum. (Token Standard)

ERC-6551A protocol enabling NFTs to act as smart contract wallets. (Smart Contract Standard)

ERC-721The original standard for non-fungible tokens on Ethereum. (NFT Standard)

EthereumA leading blockchain platform supporting smart contracts and decentralized applications. (Blockchain Platform)

Ethereum Virtual Machine (EVM)The runtime environment for executing smart contracts. (Technical Infrastructure)

FiatGovernment-issued currency not backed by a physical commodity. (Currency Type)

Floor PriceThe lowest price at which an NFT from a specific collection is listed. (Market Metric)

Gas FeesTransaction fees paid to miners or validators. (Performance Metric)

Generative ArtArt created using algorithms or code. (Creative Format)

Governance TokenA token that gives holders voting rights. (Governance Model)

GweiA denomination of Ether used to measure gas fees. (Unit of Measurement)

Hardware WalletA physical device used to securely store private keys offline. (Security Tool)

HashA cryptographic function that converts input data into a fixed-length string. (Technical Concept)

IPFS (InterPlanetary File System)A decentralized storage protocol used to host NFT metadata. (Storage Protocol)

KlaytnA Layer 1 blockchain focused on gaming and entertainment. (Blockchain Platform)

Layer 1The base blockchain protocol. (Blockchain Architecture)

Layer 2Secondary frameworks built on Layer 1 to improve scalability. (Blockchain Architecture)

Lazy MintingNFTs created only when purchased. (NFT Sales Model)

MetadataDescriptive data attached to an NFT. (NFT Data Structure)

MetaverseA virtual, immersive digital space powered by blockchain. (Digital Environment)

Mint PassA token granting rights to mint future NFTs. (NFT Utility)

MintingThe process of creating new tokens or NFTs. (Token Creation Process)

NFT (Non-Fungible Token)A unique digital asset representing ownership. (NFT Asset)

NFT Domain NamesBlockchain-based domain names serving as wallet aliases. (NFT Utility)

NFT DropThe release of a new NFT collection. (NFT Event)

NFT MarketplacePlatforms where NFTs are bought, sold, and traded. (Marketplace Platform)

On-chain MetadataNFT data stored directly on the blockchain. (NFT Data Structure)

OP StackA modular framework for building Layer 2 blockchains. (Blockchain Framework)

Open EditionsNFT sales allowing unlimited minting within a time window. (NFT Sales Model)

PFP (Profile Picture)NFTs designed as digital identity images. (NFT Asset)

Phygital NFTsNFTs representing both digital and physical items. (NFT Utility)

POAP (Proof of Attendance Protocol)NFTs commemorating attendance at events. (NFT Engagement Tool)

PolygonAn Ethereum-compatible sidechain for scalable dApps. (Blockchain Platform)

Private KeyA secret cryptographic key used to access blockchain assets. (Security Tool)

Public KeyA cryptographic address used to receive assets. (Security Tool)

RarityA measure of how uncommon an NFT’s traits are. (Market Metric)

Redeemable NFTsNFTs that can be exchanged for goods or services. (NFT Utility)

RevealThe process where NFT metadata is disclosed after minting. (NFT Event)

RPC (Remote Procedure Call)A protocol used to interact with blockchain nodes. (Technical Protocol)

Smart ContractSelf-executing code on a blockchain. (Technical Infrastructure)

SnapshotA record of wallet holdings at a specific time. (Governance Tool)

Software WalletA digital wallet accessed via apps or browsers. (Security Tool)

SolanaA high-performance Layer 1 blockchain. (Blockchain Platform)

SolidityThe primary language for writing smart contracts. (Programming Language)

StakingLocking up tokens to support network operations. (Financial Protocol)

Token IDA unique identifier for each NFT. (NFT Data Structure)

TokenomicsThe economic model behind a token’s design. (Economic Model)

TPS (Transactions Per Second)A measure of blockchain performance. (Performance Metric)

TraitA specific attribute of an NFT. (NFT Data Structure)

Utility NFTNFTs offering functional benefits beyond ownership. (NFT Utility)

Virtual LandNFT-based ownership of digital real estate. (NFT Asset)

WalletA digital tool for storing and managing blockchain assets. (Security Tool)

Web3The next generation of the internet emphasizing decentralization. (Digital Paradigm)

WETH (Wrapped Ether)A tokenized version of ETH compatible with ERC-20. (Token Utility)

WhitelistA list of approved wallet addresses for NFT minting. (NFT Infrastructure)

Zero-Knowledge Proof (ZKP)A cryptographic method for proving knowledge without revealing it. (Security Protocol)