Crypto Slang: WAGMI and NGMI

This guide will explore the use of two new slang words called WAGMI and NGMI. These jargons are in direct contrast to each other. The former praises an individual while the latter insults an individual in a respectful manner.

Have you ever been in a new environment where communication was difficult because you didn’t understand the language? Or did it happen that you did not understand because of the jargon, slang and registers used? Each niche, sector, department and neighborhood has its own parish phrase. The cryptocurrency community also uses acronyms, slang, and slang to describe situations. These words allow cryptocurrency traders, investors, and developers to easily discuss without giving explicit descriptions. Newbies should take their time learning crypto jargon before venturing into the cryptocurrency sector.

There are many acronyms used in the cryptocurrency industry, including HODL, GM, NGMI, WAGMI, FOMO, DIAMOND HAND, LFG, TO THE MOON, LAMBO, WHALE, etc. These words are common in social crypto communities like Twitter, Discord, Reddit, and Telegram. Each acronym represents a long sentence indicating a particular action. Here are some slang terms and their meaning: HODL – Hold on to dear life, GM – Good morning, FOMO – Fear of missing out, among others.

This guide will explore the use of two new slang words called WAGMI and NGMI. These jargons are in direct contrast to each other. The former praises an individual while the latter insults an individual in a respectful manner.

WAGMI: We are going to make it.

The term “WAGMI” stands for We Are Gonna Make It. WAGMI is an acronym that shows positivity in an action already taken, a decision made, or a news announcement. The word preaches solidarity among crypto participants who are certain of future success. Regardless of the criticism of risky investments and contrary moves, WAGMI singers are sure to get a great result from their decisions. There are other variations of the WAGMI acronym, including WGMI (we’re gonna make it), GMI (we’re gonna make it), and YGMI (we’re gonna make it).

WAGMI is common jargon used outside of the crypto sphere. The late Russian-Australian bodybuilder Aziz Sergeyevich Shavershian, known as Zyzz, popularized the term WAGMI in his motivational video. Since 2011, when Zyzz passed away, the use of WAGMI continued in the fitness sphere before reaching cryptocurrencies. WAGMI gained its crypto presence in 2021 in the WallStreetBets (WSB) community.

How to use WAGMI

WAGMI is used by crypto participants to express a common belief that a project, group or NFTs the community will succeed. You can buy an NFT or a native token of a project during the pre-sale and after that the minimum or market price increases. You can share this good news on Twitter, Discord or Telegram using the word WAGMI. Other investors who share the same belief about the project will respond to the jargon. Saying WAGMI shows that you believe in the long-term success of the project. You display this belief by holding your NFT against the critics’ idea. The use of WAGMI started in crypto to ridicule the NFTs of the traditional crypto world. Many traditional cryptocurrency traders scoffed at NFTs as a worthless asset, saying that anyone could save an NFT image to a computer.

NGMI: I won’t make it

The term “NGMI” is the exact opposite of WAGMI. NGMI stands for Will Not Make It. It is used to label an individual who has taken an action based on a bad decision against the opinion of the majority of the group members. The prospect of judging labels someone as NGMI for making an expensive financial decision that would fail down the line. NGMI is a roundabout way of calling an investor a loser or future loser without offending the person. Members of the crypto community should use this jargon with caution, as the negative meaning can cause serious disagreements on a project’s server.

NGMI was first used by JRNY Crypto, a popular Youtuber and NFT influencer. In a tweet, he claimed that investors comparing NFTs to tulip mania are NGMI and will regret doing so. Tulip mania is an old Dutch mania for tulip bulbs whose prices skyrocketed and crashed during the 16th century.

How to use NGMI

As stated above, users should carefully use NGMI in crypto communities. Jargon attacks the foolishness of decision makers. For example, if a user buys a token or NFT and then sells it before the price goes up, that user is NGMI. Critics also used this derogatory slang for NFT collection holders who list their NFT price below the minimum price.

NGMI can also function as a piece of financial advice for users facing imminent danger associated with their decision. Members tagged as NGMI can do possible fixes to switch to WAGMI gang. Considering the economic investment, NGMI people are narrow-minded, negative and very bearish. Financial experts often use NGMI as a sarcastic description of a negligent or unprofitable cryptocurrency trader. NGMI is sometimes used to refer to worthless NFT and shitcoin projects.

NGMI meme coin

Following the growing popularity of the term NGMI, a team of blockchain developers created the NGMI Meme Coin. The Avalanche-based coin has a total supply of 1,000,000,000 tokens on the market. The token uses a reverse Honeypot model, which means that a user cannot buy back a sold token. People can buy NGMI tokens for Binance Coin (bnb) on PancakeSwap.

NGMI Coin is one of many coins to be designed based on memes. In 2013, Jackson Palmer and Billy Markus created Dogecoin (DOGE) using the image of Kabuso, a famous Shiba Inu canine. Since then, Elon MuskThe favorite meme coin has gained attention and ranks as the 8th largest cryptocurrency by market capitalization as of December 2022.

Examples of WAGMI and NGMI

There are several use cases for WAGMI and NGMI in the crypto space.

After the price of NFTs skyrocketed, criticism against NFT projects dropped dramatically. Here are some examples from WAGMI:

  • Early NFT advocates like PIXELORD quoted WAGMI along with this quote and said, “First they ignore you, then they laugh at you, then they fight you, and then you win.”
  • Another popular influencer who is also a co-founder of the Pudgy Penguins NFT Collection cited WAGMI. He brought up jargon while advising collectors to gain industry experience rather than fall victim to FOMO.
  • A popular Bitcoin analyst, Will Clemente, thanked his supporters for sticking with his BTC analysis during a bear season. He ended his appreciation with “WAGMI”.

NGMI has been used to describe bad actors and scam projects in the NFT space. Below are some of the NGMI use cases:

  • Dangiuz (Leopoldo D’Angelo), an NFT artist, has referred to various oversold and overpromised as NGMI. He said that most of these projects use heavy shillings, unlike the genuine projects.
  • Ran Neuner, host of Crypto Banter, a popular YouTube channel, also tagged the Solana seller as NGMI. In 2021, he predicted that SOL would overtake ETH.

Bottom line

WAGMI and NGMI are two opposite but deeply interconnected words, just like the Chinese philosophy “Yin and Yang”. However, both jargon pass financial advice to investors. WAGMI pushes investors to get more tokens or perform an activity, while NGMI prevents investors from making costly mistakes. NGMI recipients should not be aware of slang users; it’s just a correctional joke.

In addition, these two jargons, along with others, facilitate communication in the field of cryptocurrencies and NFTs. There is a possibility that the crypto industry vocabulary book will record more acronyms as the network expands.