NGMI symbolizes a backlash to mock, criticize, or ridicule those who have negative opinions about crypto, promote poor investment choices, and people who don’t understand basic crypto concepts. NGMI is short for “Not Gonna Make It” and stands for “Will Not Make It”.
What Does NGMI Mean?
NGMI means “He will not succeed” in Turkish and is the abbreviation of the English word “No Gonna Make It”. NGMI is used for those who have a negative opinion about cryptoassets. It’s also a criticism against people who don’t give accurate investment advice or don’t understand crypto terms.
This concept has entered daily life with the spread of the NFT world; in other words, it is a kind of NFT jargon.
What is NFT?
NFT stands for Non-Fungible Token. It means “unchangeable money” in Turkish. The distinguishing feature of an NFT is its non-alterable aspect. A $5 bill can be exchanged for another $5 bill. However, NFTs are unchangeable. Because banknotes are defined by their value. Since both items are worth $5, it shouldn’t be a problem to change them. However, NFTs are not interchangeable, each NFT has a unique and unique identifier that is different from the others.
NFT can be created by anyone who wants to. It is not necessary to have extensive knowledge of the crypto market to create an NFT. Before creating it, it is necessary to decide on which blockchain you want to publish it. Ethereum is the leading blockchain service in this regard. Each blockchain has its own standard, compatible wallet services and marketplaces. For example, if created on BNB Chain, they can only be sold on platforms that support BNB Chain assets. That is, the same artifact cannot be sold on OpenSea, an Ethereum-based NFT marketplace.
NFTs are part of the Ethereum blockchain, so they are separate tokens with extra information stored in them. This extra information can be used to create art, music, videos, etc. in the form of JPGs, MP3s, videos, GIFs and more. It is the important part that allows them to take their form. Because they have value, they can be bought and sold just like any other form of art. Just as with physical art, value is largely determined by the market and demand.
There are many platforms where users can trade works. You can invest through these platforms, earn a profit by selling NFTs, and an NFT artifact can be resold at a higher price. Examples of sample platforms for purchasing NFT coins are OpenSea, Rarible, SuperRare, Foundation, etc. can be given. Although there are differences in the platforms used, their services are generally the same.
