A blockchain is a publicly available digital database. It confirms movement of coins, ownership through wallets and cannot be re-written. 

A blockchain is a type of distributed database that is often decentralised across many different servers. Entries can be added to a blockchain, but typically can’t be changed or erased without enormous difficulty and disruption to the network. There are many different blockchains; some of the best known include Bitcoin and Ethereum. 

Blockchain can also be described as a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Smart contracts are the fundamental building blocks of applications built on a blockchain. They are computer programs stored on the blockchain that allow converting traditional contracts, rules, agreements, etc… into digital parallels.

Web3/Web3.0 is said to be a new iteration (or next evolution) of the World Wide Web based on the blockchain, which incorporates concepts including decentralisation and token-based economics.

An NFT stands for “Non-fungible token” and is a fancy way of saying it’s a unique, one-of-a-kind digital item that users can buy, own, and trade. A non-interchangeable unit of data stored on a blockchain that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. Some NFTs can offer additional utility such as representing physical items or act as a smart “members” card which gets you access to members-only perks (a members card which you are free to sell on when you’ve decided you don’t need/want it anymore).

A DAO (Decentralised Autonomous Organisation) is an organisation controlled by voting governance that is enforced by code, which is run and stored on the blockchain. This means it is controlled by the organisation members (i.e token holders), and not influenced by any single party. The company is fully controlled by members!

Tokens that represent a person’s stake in the governance of a project, usually granting them voting powers which can be used to govern a DAO. NFTs can be used as governance tokens.

This is a place where the keys to access one’s digital assets(such as cryptocurrencies and NFTs) are stored. These are sometimes physical devices similar to flash drives, or they can also be software-based (mobile apps and websites).

A free distribution or giveaway of a digital asset such as an NFT, cryptocurrency or token, to various wallet addresses. Airdrops have many uses such as rewarding community members and early adopters. Airdrops are also a common way of gaining attention and new followers.

An access list that guarantees a person the opportunity to mint a given NFT. This is used for many different reasons that range from marketing to security and infrastructure. This process is used by projects to gather data, boost social following and deter bots or bad actors.

Burning or “to burn” is a term often used to describe the process in which users/projects remove tokens from circulation. This can apply to various digital assets including cryptocurrencies, where it is done to reduce the number of coins in circulation, or to NFTs, where it makes the NFT impossible to ever trade again. The process of burning involves sending the token to a wallet address that is unable to send tokens, permanently locking it there.

A Coin is a specific cryptocurrency that uses its own blockchain to keep track of all the data (e.g. Bitcoin, Ethereum, Dogecoin). Tokens are digital assets defined by the token issuer or smart contract and built on a specific blockchain. Tokens can have many uses and can even represent ownership of a physical asset or real life benefits. The benefits of tokens include: increased security and privacy of data, better more efficient transactions and communications, and increased transparency.

There are many definitions out there but most agree that the metaverse is a network of 3D virtual worlds focused on social connection. Some metaverses envision using cryptocurrencies, NFTs, and other blockchain-based technologies both to make exchanges within a given metaverse, and potentially transfer assets between metaverses. If you see us using this word, this is what we mean.

In the Web3 space, ‘minting’ is the process of creating new tokens on a blockchain. This is  often referring to users creating NFTs, but can also refer to the addition of other tokens, such as increasing the quantity of a token in circulation.

Revealing the identity of pseudonymous cryptocurrency traders, often those running a project. The term “self-doxing” is the process of disclosing one’s own identity. Projects where the developers’ identities are known are often described as “fully-doxed”. Fanz is a “fully-doxed” company based in the UK, you can find us on LinkedIn, you can also find more about us by looking up our publicly traded parent company “OOOOO Group” .

An acronym for “know your customer/client”. This is a or a series of procedures to verify the identity of a user or client in a business relationship. Within the web3 space, this typically means verifying the real-life identity of a person behind a web3 wallet, or the identities of people running a project.

A cryptocurrency that originated from an Internet meme or has some other humorous characteristic. Examples include Dogecoin, Shiba Inu, and other dog-themed coins. These typically are synonymous with pump and dump scams. It’s important to note that anybody can create a cryptocurrency, we believe that cryptocurrencies themselves are not bad but the projects and companies behind them can sometimes create cryptocurrencies for illicit purposes.

A type of social engineering where an attacker sends a fraudulent message designed to appear to be from a legitimate source, such as a trusted company like a bank. Phishing is intended to trick a victim into actions including revealing sensitive information, authorising transactions, or installing malicious software. This is one of the most common ways for people to get hacked or scammed so it’s important that you avoid opening unknown/suspicious links, be sure that whoever is asking you to share sensitive information is who they say they are and if you have a Web3 wallet such as MetaMask, Phantom or Rainbow never ever share your seed phrase with anybody, there is no good reason for why anybody needs this from you.