NGMI and WAGMI
In crypto and NFTs, two terms have been making waves - NGMI and WAGMI. But what exactly do they mean, and why are they essential in NFTs? In this article, we dive into the meaning and usage of these terms and how they reflect the current state of the NFT industry.
NGMI - Not Going to Make It
NGMI stands for “Not Going to Make It.” This term is used to describe someone who has made a poor decision or judgment that is not in line with the beliefs of the in-group. Essentially, it predicts future failure and has a negative connotation, similar to calling someone a loser.
NGMI can be used in a self-deprecating way or, more often, by members of an in-group to label members of an out-group who do not share their beliefs. For example, someone who sells an NFT at a loss while others believe in the project's long-term success may be judged as NGMI. However, it is essential to be careful when using NGMI as it has a strongly negative meaning and could be considered an insult.
WAGMI - We’re All Going to Make It
On the other hand, WAGMI stands for “We’re All Going to Make It” and is used to express shared conviction in the future success of a group or project. It is both an expression of camaraderie and a prediction of future success and has a positive connotation.
WAGMI is frequently used in the NFT community to show support in the face of criticism from NFT non-believers. For example, if someone bought an NFT early in the project's lifecycle and the floor price of the collection increases rapidly, they might use WAGMI to express their belief in the project's long-term success.
The Significance of NGMI and WAGMI
NGMI and WAGMI can be seen as the Yin and Yang of the NFT community. While NGMI is strongly negative and exclusionary, WAGMI is strongly positive and inclusionary. These expressions reflect the current state of the NFT industry, which takes a lot of conviction to participate and where success is not guaranteed, but rewards can be generous.
In such an environment, emotions run high. As a result, there is a tendency to exclude those who do not share your beliefs or opinions (NGMI) and wholeheartedly embrace those who share your views and opinions (WAGMI).
In conclusion, NGMI and WAGMI are essential terms to understand in NFTs. They provide insight into the industry's current state and reflect the emotions and convictions of those who participate in it. Whether you are a seasoned NFT trader or starting, knowing these terms and how they are used is crucial.
