There is a lot of usage for NGMI and WAGMI in the crypto and NFT community.
NGMI
What Exactly Does NGMI Mean?
“Not Going to Make It” is the meaning of the acronym NGMI.
What Does NGMI Stand For?
The in-group feels that a person or organization has been classified as NGMI if they have done something, made a bad judgment, or have a viewpoint that differs from the in- group’s.
That which is being judged by others is likely to provide bad outcomes. Hence it is considered an indicator of failure (or lack thereof) in the financial sense.
It’s almost like labeling someone a “loser” when you use the term “NGMI” (or at least a future loser).
How to utilize NGMI in a practical manner
If in retrospect, you’ve made a bad judgment or taken the wrong course of action, you may utilize NGMI to express your regret.
NGMI, on the other hand, is more often used by members of an in-group to refer to members of an out-group (such as those who do not believe in the future of NFTs).
The term may also apply to members or holders of NFTs in a collection who, for example, price their NFTs below the floor price (the lowest-priced NFT in a collection), continuously modify their selling price, or mindlessly flip NFTs without much consideration for profits and losses.
NGMI, on the other hand, has a negative connotation and should be used with caution. Using the term NGMI to describe a member of your group might be seen as a kind of verbal abuse.
Many individuals are coping with the effects of their situations. Individuals have their motives for doing the acts that they do since life circumstances may change quickly and unexpectedly, as well.
Some are NGMI, while others just live with whatever life throws at them.
Contextual examples of NGMI
JRNY Crypto, well-known crypto and NFT influencer with a large following on YouTube, is a good starting point for understanding NGMI.
JRNY references the “tulip mania” in his tweet, a speculative enthusiasm for tulip bulbs in the Dutch Republic in the 1600s. During this time, tulip prices rose to absurd heights before plummeting precipitously.
Pundits in the mainstream often reference the tulip bubble to support their assertion that cryptocurrency and NFT prices have no intrinsic worth.
According to JRNY, these people are NGMI.
NFT artist Dangiuz (Leopoldo D’Angelo) is known for his work. There are a lot of “over-hyped” (or even fraudulent) initiatives in the NFT industry, according to Dangiuz in the tweet.
As seen in this example, members of the NFT community have the authority to designate other NFT members as NGMI.
WAGMI
What is the acronym for WAGMI?
“We’re all going to make it” is the meaning of the acronym of the WAGMI.
What exactly does WAGMI mean?
WAGMI signifies that a choice has been made, an action done, or a piece of news released that will benefit the in-group in the future.
As a symbol of teamwork and a forecast of future success, WAGMI is a powerful symbol.
WAGMI has a positive meaning and a sense of “we’re all in this together,” especially when strong confidence is required in high-risk or contrarian actions.
The following words and phrases have similar meanings:
YGMI: stands for “You’re Going to Make It.”
GMI: “Going to Make It”
WGMI: stands for “We’re Going to Make It.”
How to Use WAGMI
WAGMI may convey a group’s collective faith in the group’s or project’s future success (or with the NFT community as a whole).
It’s common to use “WAGMI” when referring to a project’s Discord group if you acquired an NFT early in its lifespan and the collection’s floor price begins to rise significantly after weeks of owning the NFT.
This is a sign that you have faith in the project’s long-term success and displayed that faith by holding your NFT when few others were.
Contextual Applications of WAGMI
NFTs faced a lot of skepticism in the conventional crypto community at the start of 2021.
The “right, click save” complaint was a common mockery, implying that NFTs were of little use since anybody could save the NFT picture to their computer (by right-clicking on the imaging and saving it to their computer).
Some broad criticism faded as the year went on, and NFT project pricing went up (although it is still quite prevalent).
During the summer of 2021, several members in the NFT community adopted the quote:
They laugh at you and then fight with you, but ultimately, your victory matters most.
Those who initially believed in NFTs felt vindicated when they read this remark.
One of the NFT artists, PIXELOR, utilizes this sentence in his tweet- concluding it with the hashtag – “WAGMI.”
The following tweet is from @ColeThereum, a co-founder of the Pudgy Penguins NFT collection and active NFT tweeter.
Tweeted on the “Fear Of Missing Out” pervasive in the NFT area. In the NFT sector, some individuals are so anxious to become involved in every project that they overlook the broader picture; NFTs are a new and expanding business, and there is time to watch and learn about it.
“WAGMI” refers to the fact that we can succeed if we put in the time and effort.
The realm of cryptocurrency trading provides the ultimate WAGMI illustration.
Will Clemente, a well-known bitcoin expert, is thanking his fans in his tweet.
When it happened, it was the culmination of months of bitcoin’s decline. Many people thought the crypto bull market was gone during this period, but Will’s on-chain research showed otherwise.
“WAGMI” is how Will closes his tweet when bitcoin finally breaks its all-time highs, expressing his gratitude and camaraderie to those who had supported him during the months.
Final Remarks
The NFT community’s Yin and Yang are NGMI and WAGMI.
To put it another way, WAGMI is inclusive while NGMI is restrictive; where NGMI is polarizing, WAGMI is welcoming.
In the present status of the NFT sector, it is an industry that requires a lot of conviction to engage in; success is not guaranteed, yet rewards may be considerable. Such an atmosphere is fraught with emotion, and people tend to shun those who do not share their ideas and opinions (NGMI) while also embracing those who do (WAGMI).
We believe in the future of NFTs, and we hope you do as well.
