What is NGMI and WAGMI? (NFT Terminology)

NGMI and WAGMI are used frequently in the crypto and NFT world.  Learn what they mean and how to use them.

NGMI

What NGMI Stand For?

NGMI stands for "Not Going to Make It".

What Does NGMI Mean?

If a person (or entity) is labeled as NGMI, it means that the group (the in-group) believes that the person has taken an action, made a poor decision, or holds an opinion that is not in accordance with opinions of the in-group .  

The action, decision or opinion, in the eyes of those judging, will lead to poor results and, hence, NGMI is a prediction of future failure (or lack of success), usually in a financial sense.

NGMI has a very negative connotation and is essentially equivalent to calling someone a loser (or at least a future loser).

How to use NGMI

NGMI can be used in a self-deprecating way after making, in hindsight, a poor decision or taking a bad action.

But more often than not, you’ll see members of an in-group calling members of an out-group (such as people who do not believe in the future of NFTs) with the label NGMI.

The label can also extend to members or holders of NFTs in a collection who, for example, price their NFTs below the floor price (below the lowest priced NFT in a collection); constantly change their selling price; or mindlessly flip NFTs without much thought to profits and losses.

However, you should be careful in your use of NGMI as it has a strongly negative meaning.  Labeling someone in your group with NGMI could be taken as fighting words.

Many people are dealing with their own circumstances.  Life situations can change rapidly, so people have their own reasons for taking the actions that they take.

Some are NGMI, but some are just dealing with what life is throwing at them. 

Examples of NGMI in Context

The first example of NGMI comes from JRNY Crypto who is a crypto and NFT influencer with a popular Youtube channel.

In his tweet below, JRNY mentions the "tulip mania", which was a speculative mania for tulip bulbs during the 1600's in the Dutch Republic.  During this period, tulip prices reached ridiculously high prices, but was soon followed by an epic crash.

This tulip mania is often cited by mainstream pundits who believe that crypto and NFT prices are based on pure speculation and have no real value.

In the opinion of JRNY, such pundits are NGMI.  

Dangiuz (Leopoldo D'Angelo) is an artist that is active in the NFT space.  In his tweet below, Dangiuz makes reference to the large number of "over-hyped" (or even scam) projects which are, unfortunately , prevalent in the NFT world.  

In this example, we see that members of the NFT community can label bad actors within the community as NGMI.

The final example of NGMI comes from the crypto world.

Ran Neuner is the host of a very popular Youtube show called Crypto Banter.

In his tweet below, Ran essentially expresses an opinion that Solana will outperform Ethereum in the 2021 crypto bull market and labels a seller of Solana as NGMI.

While I wouldn't label someone NGMI for taking such a strategy, the tweet does show that there are many differing opinions within a community and sometimes these opinions can be expressed strongly.

• Related: How to Buy Solana NFTs

WAGMI

What does WAGMI Stand for?

WAGMI stands for “We’re All Going to Make It”.

What does WAGMI mean?

WAGMI means that an action has been taken, a decision made, or news announced such that it is to the future benefit, not only to an individual, but to the in-group as a whole.

WAGMI is both an expression of camaraderie and a prediction of future success.

WAGMI has a very positive connotation and has the feeling of “we’re in this together”, particularly when strong conviction is needed in the face of, what others might consider, high risk or contrarian moves.

Additional expressions with similar meanings include:

• WGMI: stands for "We're Going to Make It"
• GMI: stands for "Going to Make It"
• YGMI: stands for "You're Going to Make It"

How to use WAGMI

WAGMI can be used when you want to express your shared conviction on the future success of a group or project (or with the NFT community as a whole).  

For example, if you bought an NFT very early on in the lifecycle of a project and weeks after holding the NFT the floor price of the collection starts increasing rapidly, you might share that good news in the project's Discord group and write "WAGMI".

Using WAGMI in such a way shows that you believe in the long-term success of the project and demonstrated that conviction by holding your NFT when few seemed interested. 

Examples of WAGMI in Context

The beginning of 2021 started out with a lot of ridicule towards NFTs from the traditional crypto world.  

The ridicule often came in the form of the "right, click save" criticism, which basically expressed the belief that NFTs were worthless since anyone can just save the NFT image to their computer (by right clicking on the imaging and saving it to their computer).

• Related: Why Are NFTs Worth So Much?

As the year wore on, and prices for many NFT projects increased, that general criticism died down (although is still quite prevalent). 

As the popularity of NFTs increased, particularly in the summer of 2021, many people in the NFT space co-opted the quote:

"First they ignore you, then they laugh at you, then they fight you, then you win" (which is quote that is often wrongly attributed to Mahatma Gandhi).

The quote expressed a kind of vindication for early believers of NFTs.

PIXELOR, an NFT artist, uses this quote (with a twist) in his tweet below - ending it with the hashtag - "WAGMI".

The next tweet comes from @ColeThereum, who is the co-founder of the Pudgy Penguins NFT collection and actively tweets about the NFT industry. 

In his tweet, he addresses the frantic FOMO (Fear Of Missing Out) that is prevalent in the NFT space.  

Some people in the NFT world are so eager to jump into every project that they miss the big picture; that NFTs are a new and growing industry, and there is time to observe and learn.  

Given enough time and experience, we can be successful - hence, "WAGMI".

The final example of WAGMI comes from the crypto trading world.

Will Clemente, who is known for his on-chain analysis of bitcoin, is expressing his appreciation to his followers in the tweet below.  

It came after months of bitcoin being below its all time highs.  During this time, many believed that the crypto bull market was over, but Will's on-chain analysis over this time period suggested otherwise.

When, finally, bitcoin did break its all time highs, Will shows his appreciation and camaraderie to those who stuck by him during these months and ends his tweet with "WAGMI". 

Final Thoughts

NGMI and WAGMI can almost seem like the Yin and Yang of the NFT community.

Where NGMI is strongly negative, WAGMI is strongly positive; where NGMI is exclusionary, WAGMI is inclusionary.

These expressions are a reflection of the current state of the NFT industry - an industry that takes a lot of conviction to participate in; where success is no guarantee; but also where rewards can be generous.

In such an environment, emotions run high and there is a tendency to exclude those who do not share your beliefs or opinions (NGMI) and, at the same time, wholeheartedly embrace those who do share your beliefs and opinions (WAGMI).

I believe in the future of NFTs and I hope you do too, but I know it is a risky space to be playing in. 

That said... I hope... I believe....

WAGMI 🙂