Crypto Slang Series: What Is NGMI and What Does It Mean in the Crypto World?
NGMI is an acronym you may have seen on social media and threads in crypto circles. In our second installment of Crypto Slang Series we look at what NGMI means and the different examples when it is used.
What does NGMI mean?
The term stands for “Not Gonna Make It”. It is usually used by pundits to suggest a bleak future about an asset, investment or trading style. Recently, it gained popularity within the crypto and NFT communities.
Where did NGMI come from?
As happens with most online slang terms, no one seems to know the exact origin. However, some claim that NGMI actually comes from a catchphrase that signified its direct opposite – WGMI. WGMI stands for We’re Gonna Make It and was popularised by the late bodybuilder Zyzz in one of his inspirational Youtube videos, which garnered 1.7 million views when it was uploaded again in 2012.
NGMI in Crypto
This term is usually used in 3 different contexts within the crypto industry to:
- Signal that an investor is going to miss out on a profitable opportunity, be it investing in an ICO or a crypto trade.
- Show disdain against a new cryptocurrency, which in the speaker’s opinion is bound to fail.
- Express disappointment after taking a wrong decision or making a mistake when buying and selling crypto.
Examples of use
A quick search on Twitter yields a number of results for #ngmi. Let’s take a quick look at the examples found for how netizens are using NGMI when talking about crypto.
Example 1: You will miss out
https://twitter.com/1biLLiondoLLarz/status/1499267400801427458
Twitter user Sir Bud Fox uses #NGMI to motivate followers to invest in crypto as a means to passive income otherwise they are ngmi.
Example 2: It’s bound to fail
Hey frens, Time for a little quiz. What shit coin is that? I will give away $1,000 HUAHUA to a random winner who provided the correct answer and retweeted this within 48 hours.
— Crypto Panse ⚛️ (@CryptoPanse) February 28, 2022
3 hints
– it’s not $COPE
– scale is $USD
– someone is #NGMI pic.twitter.com/PFmafUzwk9
CryptoPanse’s tweet asks whether anyone can guess which coin is NGMI. Due to recent news, the currency affected this time around is not cryptocurrency but the Russian Rouble that is currently crashing due to Putin’s decision to invade Ukraine. Being a cryptocurrency exchange, we find it unethical to share ngmi sentiments on an emerging crypto, however the current state of the Russian Ruble seems a perfect use case for the term.
Example 3: Regret after taking the wrong decision
In a Reddit group called r/ethtrader, a user posted the below:
Spending 200 ETH on Gas for a 100 ETH mint. NGMI. https://etherscan.io/tx/0x51fc36f233e372bc7104b8d708b8db9f8035e68a291200927612d454ef6a1002
byu/comfyggs inethtrader
This signifies a level of disappointment for making a costly mistake in a transaction and shows the user regrets taking this action.
NGMI in NFTs industry
This new, innovative blockchain industry is rich with financial opportunities and it is steadily gaining ground as a booming industry. So it is no wonder that certain slang used in crypto circles is now carried over to the NFT circles.
Examples of use in NFTs circles
Similar to the use in crypto, within NFT circles it is usually used to signify a loss of faith in someone who bought or sold a particular NFT. For example, in the below tweet, a user gives advice about a particular NFT, urging followers that if they do not follow it then they will not make it;
This looks amazing 💜🔥😱
— rpvnft.eth (@RPV_NFT) February 28, 2022
If you are paying crazy amounts of Eth for hype projects and ignoring this #NGMI#NFT #NFTCommunity #NFTs #nftcollector #PlayColony #nftgames #Ethereum https://t.co/1RAtB7kf6d pic.twitter.com/t7pAD9sd1g
As a crypto investor, why do you need to know about it?
Being on the lookout for news and comments made by fellow crypto and NFT investors should be a priority for any crypto investor. Knowing the lingo and what acronyms such as FUD, NGMI and HODL stand for and how they are used, means you will never miss out on important market sentiment and will help you make well informed decisions when buying and selling cryptocurrencies.
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Frequently Asked Questions (FAQs)
NGMI stands for Not Gonna Make It.
To signal that an investor is going to miss out on a profitable opportunity, to show disdain against a new cryptocurrency, which in the speaker’s opinion is bound to fail, and to show regret after taking a wrong decision.
To signify a loss of faith in someone who bought or sold a particular NFT.
As always, this article does not constitute financial advice and you should be sure to do your own research and consult a professional financial advisor before making any investment decision.