A
Ape in
Ape In is a term to describe people who rush into purchasing a new NFT or currency without conducting thorough research or study. It all started with the ‘apes together, strong’ meme. However, it is always advisable not to ‘ape in’ to any projects without first conducting a thorough study and knowledge of what you’re purchasing.
Artificial intelligence / AI
A machine with human-like cognitive skills, such as the ability to absorb information, solve problems, or respond to natural language. While robots are often held up as the prime example of an AI it’s more usual for AI to exist as computer programs with no physical form.
Augmented reality
A real world environment is enhanced by virtual objects. Where the real world is a backdrop and digital images are added on top, with the combination appearing seamless when viewed through a smartphone or goggles. A good example is Pokémon Go, which adds Pokémon to a natural landscape being viewed by your smartphone’s camera. See also Mixed Reality and Extended Reality.
Avatar
A digital and graphical representation of a real-life person. This can be a 2D picture or an animated, walking-and-talking digital figurine. Avatars are mostly used in games and social media. The user decides what the avatar looks like.
B
Blockchain
A digitally shared and decentralized ledger that keeps track of transactions. Its list of records (blocks) are linked through cryptography and cannot be altered.
Blockchain gaming
A video game that uses blockchain technology to incorporate the use of cryptocurrencies and/or NFTs in the gameplay. Also known as crypto gaming, NFT gaming, or play-to-earn gaming.
C
Collectibles
Like their IRL counterpart, digital collectibles are unique items whose value stems from their rarity. We’re talking about NFTs of course; but with the backdrop and context offered by the Metaverse, these items take on new meaning. Wilder World hosts some great examples: their native NFT collections include Wilder Wheels (their custom designed, gravity defying vehicles) Wilder Crafts and even Wilder Pets. And unlike physical collectibles, they never wear or tear.
Creator economy
Refers to a large group of social media influencers, YouTubers, and bloggers who earn money through popular social media platforms such as YouTube, TikTok, Instagram, and Twitch.
Cryptocurrency
A digital and decentralized valuta such as Bitcoin, Ethereum, Ripple, and Cardano. Cryptocurrencies use cryptography for transactions (see ‘Blockchain’).
Cryptowallet
A digital wallet to store cryptocurrencies. The currency is secured through a private key.
Cyberspace
The virtual world, also explained as the global communication network that’s made possible by computers and the internet.
D
Decentralization
Power is distributed away from a central authority. It is often thought that the metaverse should be decentralized, not governed by a person or small group of people.
DAO
A decentralized autonomous organization that is owned by its members. The rules and transactions are managed on the blockchain.
Decentraland
A metaverse platform that builds on the principle of a community-driven virtual space.
Degen
Degen is short for “degenerate". Someone who takes risks. When it comes to crypto, it refers to people who invest in digital assets like NFTs without doing their due diligence, basing their decisions on impulse and feeling.
Digital asset
A virtual item with distinct value and usage rights. It can exist in any format, such as a written document, audio, or a photograph. Blockchain technology has made it easier to create digital assets.
Digital Twin
A virtual counterpart of an object that exists in the real world. Can be used in a computer simulation of a real life event or action, for example.
E
Extended Reality
Refers to all of the different types of ‘Realities’, including every degree of ‘physical world meets virtual world’. See also Augmented Reality and Mixed Reality.
Extended Reality
Refers to all of the different types of ‘Realities’, including every degree of ‘physical world meets virtual world’. See also Augmented Reality and Mixed Reality.
Ethereum
An open source platform that uses blockchain technology to record transactions and run smart contracts. Ethereum is one of the most popular platforms used to develop metaverse applications.
F
Floor
The floor price is the lowest price listed for an NFT project. While it doesn't necessarily mean you should buy NFTs at floor price, most of them are usually lower ranking in rarity, nonetheless, it is a good entry point for new joiners to the project
FOMO
“Fear Of Missing Out”. Refers to the feeling of anxiety or stress of not participating in an activity or conversation, mostly related to finance or digital assets.
Fiat currency
Traditional government-issued money, such as US dollars, euros, and yen. Fiat currency is not backed by a physical commodity, and its value is determined by the government.
Fungible
A type of asset that can be divided into smaller parts and exchanged for other assets. Cryptocurrencies, for example, are fungible. Non-fungible tokens, on the other hand, are unique and cannot be divided.
G
GM
Short for Good Morning, a common way of greeting in Twitter/Discord but some times in real life too.
Gamification
Using gaming elements in a non-gaming situation. Think of the use of avatars, point systems, and achievements. Some think that the metaverse will increase the gamification of our digital activities.
H
Hologram
A 3D projection of an image or video, created with a special laser technique. Holograms are often used to create immersive experiences in the metaverse. Think of a holographic concert or a holographic meeting.
Hashtag
A word or phrase preceded by a # sign and used to identify messages on a specific topic. They are most commonly used on social media platforms like Twitter and Instagram.
I
Immersion
The feeling of being part of a world. It’s often used to describe the sensation of being in a virtual environment.
Interoperability
The ability for different systems to work together. This is a key aspect of the metaverse, as it should be possible to move between different virtual worlds without any trouble.
J
Jamming
Jamming is the process of collaborating with other people in creative endeavors, such as music or art. Jamming can be done in the metaverse with the help of virtual reality and 3D audio technology.
JOMO
“Joy Of Missing Out”. The opposite of FOMO, this is the feeling of contentment in not participating in activities, events, or conversations.
Jumping
Jumping is the process of transferring your avatar from one place to another in the metaverse. It’s an easy way to travel between virtual worlds.
Jig
Short for “jiggy”, an old-school slang term used to describe something cool, or something that makes you feel good.
Jellybeans
Jellybeans are virtual currency used in the Cryptovoxels metaverse. They’re used to buy, sell, and trade NFTs and other digital assets.
K
KryptoKitties
KryptoKitties is a blockchain game that allows players to buy, sell, and breed digital cats. It was one of the first blockchain games to reach mainstream popularity.
K-pop
Korean pop music, an incredibly popular genre of music that has been gaining traction worldwide. K-pop is often associated with the metaverse, as many K-pop stars have embraced the technology and created their own digital avatars.
Kaiju
A Japanese term for “strange beast”, usually referring to giant monsters. Kaiju are popular in video games, movies, and other forms of media. Some have been featured in NFT collections and metaverse projects.
Knapsack problem
A problem in combinatorial optimization, where the goal is to fill a knapsack with items, so as to maximize the total value of the items in the knapsack. This problem arises in the context of blockchain and cryptocurrency, when miners have to choose which transactions to include in a block.
Kawaii
Kawaii is a Japanese term that means “cute”. The term is most often used in reference to things like anime, manga, or collectible toys. It’s also used to describe NFTs or avatars that have a “cute” design.
L
lfg
“Let’s F****** Go”. A term used to express when someone is excited about something. “Have you seen the floor price? It doubled overnight. LFG!”
Lambda
A decentralized infrastructure project aiming to enable developers to create, host, and deploy applications on the Ethereum blockchain.
Lightning Network
A layer 2 protocol for Bitcoin that enables faster and cheaper transactions between users.
Liquidity Pool
A pool of funds that is used to facilitate trades on decentralized exchanges.
Liquidity Mining
The process of providing liquidity to a decentralized exchange (DEX), in exchange for rewards.
Lidar
A remote sensing technology that uses lasers to measure the distance between objects. Lidar can be used for metaverse projects, for example to generate 3D scans of real-life places.
M
Meat Space
The real world. Where humans exist as flesh and bone and everything in between.
Meta
The company formerly known as Facebook. The name Meta reflects their metaverse ambitions.
Metaverse
A digital universe consisting of interconnected 3D spaces that allow people to work, shop, and spend leisure time. This is usually done through avatars or by wearing VR headsets. The discussion whether or not we have such a metaverse, or whether we will have one in the future, is still ongoing.
Mining
A way to earn cryptocurrencies without having to buy them. Using the Proof of Work method, a computer needs to solve complex mathematical puzzles to verify a new ‘block’ on the blockchain.
Minting
Similar to mining, but uses the Proof of Stake method. Crypto- or NFT owners stake (lock) their assets, after which they may be selected for a transaction validation process, creating new coins.
MMORPG
Stands for Massive Multiplayer Online Role-Playing Game. Since MMORPG’s feature open worlds wherein players can live freely through their avatars, they’re often compared to the idea of the metaverse.
Multiverse
The idea of multiple universes existing at the same time. It’s often used to counter the idea of the metaverse: instead of one massive universe, the multiverse supports the idea of having many digital universes with their own rulesets.
Mixed reality
A combination of virtual reality and augmented reality. Mario Kart Live: Home Circuit is a good example, as this game combines a physical race track with a digital game. See also Augmented Reality and Extended Reality.
N
NFT / Non-Fungible Token
A unique digital asset with proof of ownership thanks to the use of blockchain technique. Items on metaverse platforms or items in blockchain games are often traded as NFT’s.
Newb
A person new to the crypto/NFT space.
Node
A computer that is part of a blockchain network. It’s responsible for verifying transactions and for hosting a copy of the blockchain.
Network Effect
The phenomenon where a product or service becomes more valuable when more people use it. This is often the goal of metaverse projects.
Non-Custodial
A wallet that allows users to keep full control over their assets. The user is the only one with access to the private keys.
Noob
A person who is new to the crypto/NFT space. Noob is often used in a derogatory way, so it’s better to avoid using it.
O
Oculus Quest 2
One of the most well-known virtual reality headsets, made by Facebook Technologies (Meta). Other examples of VR headsets are the Sony PlayStation VR and Microsoft’s HoloLens.
OG
Short for “original gangster” and slang for “original”. It refers to someone or something that is an original or originator, especially one that is highly respected or admired within their field.
Open World
A type of game where players can freely explore the world without any linear progression or restrictions. It’s often used to describe the type of environment that the metaverse would create.
P
PFP
PFP is an acronym in texting and social media. It means both picture for proof and profile pic.
P2P
Short for “peer to peer”. A type of network where each computer is connected directly to each other, without the need for a centralized server. This is often used in the context of blockchain, as it allows for decentralized transactions.
PancakeSwap
A decentralized exchange (DEX) on the Binance Smart Chain. It’s popular for its low transaction fees and for its support of NFTs.
Pizza
Pizza is a meme currency that started as a joke on Twitter. It’s a parody of Bitcoin, but it has its own blockchain and can be used for transactions.
Proof of Stake
A consensus mechanism used to validate transactions on the blockchain. It requires users to ‘stake’ (lock) their coins, after which they may be selected for a transaction validation process.
Proof of Work
A consensus mechanism used to validate transactions on the blockchain. It requires users to use their computing power to solve complex mathematical puzzles, after which they may be rewarded with a certain amount of cryptocurrency.
Q
Quantum Computing
The use of quantum mechanical phenomena, such as superposition and entanglement, to perform calculations. Quantum computing could be used to create simulations of the metaverse, as well as to improve the security of the blockchain.
Quests
Challenges, tasks, or missions that are given to players in video games or metaverse projects. Completing quests can earn players rewards or unlock new content.
QR Code
A machine-readable code, consisting of black and white squares, that can be used to encode information or URLs. QR codes are often used to access websites or to log into virtual spaces in the metaverse.
R
Recursive
Refers to a process that calls itself. Recursive techniques are often used to create simulations of the metaverse.
Real-Time Rendering
The process of generating images in real-time, as opposed to pre-rendering them. This is important for creating seamless experiences in the metaverse.
Ray Tracing
A technique used to generate realistic lighting effects in 3D graphics. Ray tracing is often used to create immersive experiences in the metaverse.
S
Sandbox
Can refer to metaverse platform The Sandbox or to a certain type of game that allows players the freedom to shape things in their digital open world.
Simulation
The process of creating a virtual environment that mimics the real world. This is often used to create simulations of the metaverse.
Social VR
A type of virtual reality experience that enables people to interact with each other in a virtual space. Social VR technologies are often used in the metaverse, as it allows people to connect and collaborate in a virtual world.
Smart Contracts
Computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts are often used in the metaverse to ensure the secure exchange of digital assets.
T
Tokenization
The process of turning physical assets into digital tokens. This is often done with NFTs in the metaverse, as it allows people to trade digital items that are backed by real-world assets, such as art or real estate.
Turing Test
A test designed to determine if a computer is capable of thinking like a human. In the context of the metaverse, the Turing test could be used to measure the believability of virtual humans and their interactions.
Trustless
A system where users don’t have to trust each other. This is often used to describe blockchain technology, as users don’t have to trust a third party to facilitate transactions. The trustless nature of blockchain is often seen as a key component of the metaverse.
U
User Interface (UI)
The way a user interacts with a computer program or online service. The UI of a metaverse platform is important, as it determines how users interact with the virtual world.
Uniswap
A decentralized exchange (DEX) on the Ethereum blockchain. It’s popular for its support of NFTs and its low transaction fees.
Ubiquity
The idea that the metaverse should be accessible everywhere and from any device. This could be achieved through a combination of VR headsets and augmented reality glasses.
V
Virtual reality
A simulation of the real world, but not necessarily a digital copy. A virtual reality experience is usually paired with a VR headset, allowing the user to move and see as if they’re part of a 3D world.
Volumetric Capture
A technique used to create 3D models of people or objects. It’s often used in the context of the metaverse, for example to create digital avatars or to scan real-life places.
Voxels
A type of 3D pixel, used to represent 3D objects in computer graphics. Voxels are often used to create 3D models or simulations of the metaverse.
VRChat
A popular social VR platform, where users can hang out, play games, and meet new people.
W
Web3 / Web 3.0
The idea of a new generation of the internet. Unlike Web2, Web3 is decentralized, not governed by big tech companies, and based on blockchain technology.
Wallet
A software program that stores a user’s cryptocurrencies and other digital assets. Wallets are often used to store NFTs and other assets in the metaverse.
World Building
The process of creating virtual environments, often used to create simulations of the metaverse. World building can be done through coding, 3D modeling, or a combination of both.
WebVR
A web browser API for creating virtual reality experiences. WebVR is often used in the metaverse, as it allows users to access virtual worlds without the need for a dedicated app.
X
XR
Short for Extended Reality, a term used to describe a combination of virtual reality and augmented reality. XR is often used in the context of the metaverse, as it allows users to mix and match real and virtual environments.
Xanadu
The original concept of the metaverse, first proposed by Ted Nelson in the 1960s. It was based on the idea of a “worldwide hypertext system”, where users could access and manipulate digital content in a 3D space.
XR Spaces
Virtual spaces in the metaverse, where users can meet, interact, and collaborate. XR Spaces can be accessed with virtual reality headsets, augmented reality glasses, or through web browsers.
Y
Yield Farming
The process of providing liquidity to a decentralized exchange (DEX), in exchange for rewards. Yield farming is usually done with liquidity pools, where users stake their assets in exchange for a reward.
YOLO
An acronym for “You Only Live Once”. It’s often used to describe a bold or risky move, such as investing all of your money into crypto or NFTs.
Yin-Yang
A Chinese philosophy that suggests the world is made up of two opposing forces. It’s often used to describe the dichotomy between the physical world (the real world) and the digital world (the metaverse).
Z
Zero-Knowledge Proof
A cryptographic technique used to prove the validity of a transaction without revealing the transaction details. It’s often used in the context of the metaverse, as it allows for secure and anonymous transactions.
ZK-SNARKS
Short for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. It’s a type of zero-knowledge proof that is often used in the metaverse, as it allows for secure and private transactions.
ZombieChain
A blockchain game where players can collect, trade, and battle zombie NFTs. ZombieChain is often used as an example of what can be done with NFTs in the metaverse.
(source: https://www.beyondgames.biz/24444/the-metaverse-glossary-everything-you-ever-wanted-to-know-about-the-metaverse/) and Diego Borgo.