What is the meaning of WAGMI?
Just like the advent of crypto – a novel and unique concept – the slangs used in the decentralized realm are also unconventional and eccentric. For some reason, terms like WAGMI gel with the ideology of crypto and the passion of its users in a very uncanny way. In fact, if the web3 space, at this point in time, comes up with a language of its own, we wouldn’t be bothered much.
Stock market: We’ve got the most bizarre and quirky jargon
Crypto: HODL my beer
But jokes aside, what even is the meaning of WAGMI and why should you be using it?
WAGMI or “We’re All Going to Make It” is an acronym for a group of contributors in the web3 ecosystem being hopeful and optimistic about the returns on their efforts.
Usually it is used in association with reaping financial benefits from NFTs, whether they are bought or sold. Overall, the term is used in a positive manner to uplift the spirits of fellow web3 developers and to build momentum.
WAGMI is also used when companies or web3 projects have to assure the community about the success of a decision. Sometimes people need a little bit of hope and belief in a new space such as web3, and the meaning behind WAGMI helps bring that assurance in times of chaos.
The exact opposite of WAGMI is NGMI, which stands for ‘Not Going to Make it”. It expresses hopelessness, disappointment and the impending failure of a project or losses on NFTs.
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Origin of WAGMI – the Zyzz story
But how did it come to existence? Sadly, the origin of these term does not go back to crypto itself. In fact, a bodybuilder (late) who went by the name Aziz Shavershian or Zyzz used to use slangs like NGMI and WAGMI.
Belonging to Australia, Zyzz used to frequently post fitness content on his fitness website (Instagram was probably not a big deal back then or perhaps it had not launched).
While the context of the usage of the terms has changed, the intention more-or-less remains the same – motivating people to hodl on, have patience and grind.
It is argued that Zyzz’s videos revolved around what we call toxic masculinity. Contrary to how the terms were used back then and what they entailed, in crypto they are solely for business purposes and to motivate the newbies.
Real-life stories of WAGMI
The term is used to inspire confidence and encourage community. But wouldn’t it be antithetical to not mention how WAGMI has helped people go from rags to riches? Of course, it would. Let’s dive in some real-life examples.
1. The BTC Jesus
The Bitcoin Jesus is a classic example of someone who used the slang term as an inspiration and source of motivation. Roger Ver, one of the big names in the crypto-verse, has been using the WAGMI mindset for the longest time now. What makes Ver unique is the fact that he trusted in Bitcoin and bought a thousand coins when they were being sold for peanuts. Little did he know or may be he did know all that there was to know but BTC saw a humungous surge in the overall price, changing people’s lives overnight.
Ver is of the view that there are innumerable opportunities in crypto but for those who truly believe in the concept of WAGMI and the potential of the burgeoning crypto technology. Ver is a crypto evangelist for sure.
2. The Crypto King
Ian Ballina – aka Crypto King – is a big a name in crypto spaces on social media. He has been investing in various cryptocurrencies and sharing his learnings and insights with his followers on different online spaces. He has been seen to promote the WAGMI mindset. His theory behind the slang aligns more with taking risks in the cryptocurrency space and arguing that potential rewards are worth the risks and short-term losses.
“Bitcoin is my safe word. Just kidding, who needs a safe word anyway” #WAGMIElon Musk