Hopping into the world of non-fungible tokens (NFTs) isn’t an easy feat, but these terms can get you headed in the right direction!
Like with learning anything new, it’s important to get your feet wet with the basics. So, Lucas breaks down exactly what terms like “insider trading” mean along with examples.
“So, think of this, you work at Coca-Cola, a publicly-traded company, [and] let’s say you’re an executive,” he explained. “And you know that Coca-Cola is about to get into selling NFTs and so you know that the minute they announce that they’re going to sell NFTs, their shared price is going to move.”
He further explains that as an executive, you have the inside scoop as to what’s happening before anyone else has dibs on the new company-wide move. Should you decide to place your bets or bids in on the movement, it would be called insider trading, which correlates to the word “alpha” in the NFT space. This means you have access to something important much like insider information that most people don’t know of.
Lucas proceeds to break down more terms such as “alpha” and “ape-ing” even more and how they can help you garner huge amounts of success within the NFT space because while it’s important to know what’s going on, it’s just as equally important to know how to decipher the language that may ultimately lead to the big bucks.
For more on some of the most important terms you should know when getting into NFTs, whether you’re a producer of NFT assets or an investor, listen to the full episode of Black Tech Green Money below: