Solana NFT glossary
One-line definitions of the terms you will meet when buying, selling and collecting NFTs on Solana — from floor price and sweep to pNFT, cNFT and royalty.
- Floor price
- The lowest price any NFT in a collection is currently listed for.
- Listing
- An NFT put up for sale at a fixed price. It stays yours until someone buys it or you cancel.
- Offer (bid)
- A price you are willing to pay for an NFT. The owner can accept it at any time until you cancel.
- Collection offer
- An offer that any holder of the collection can accept with any of their NFTs.
- Sweep
- Buying several of the cheapest listings in a collection in one go.
- Volume
- The total value of sales in a collection over a period, such as 24 hours or all time.
- Market cap
- Floor price multiplied by supply. A rough measure of a collection's size.
- Supply
- How many NFTs exist in a collection, excluding burned ones.
- Traits (attributes)
- The properties of an NFT, such as background or clothing, stored in its metadata.
- Rarity rank
- An NFT's position when the collection is ordered by how uncommon its traits are. Rank 1 is the rarest.
- Royalty
- A share of each resale price paid to the creators, set in the NFT's metadata.
- Mint
- Creating a new NFT on-chain. Also used for the NFT's unique address (its mint address).
- Burn
- Destroying an NFT permanently. Burned NFTs no longer count towards supply.
- pNFT (programmable NFT)
- A Metaplex NFT that can enforce royalties. It stays frozen in the owner's wallet and only moves through its rule set.
- Metaplex Core
- A newer Solana NFT standard where each NFT is a single account, with features added through plugins.
- cNFT (compressed NFT)
- An NFT whose ownership is stored in an on-chain Merkle tree, making it very cheap to mint.
- Wallet
- The app that holds your keys and signs transactions — Phantom, Solflare and Backpack are common on Solana.
- Recovery phrase (seed phrase)
- 12 or 24 words that control your wallet. Anyone with them owns everything in it. Never share them.
- Delegate
- An address you have allowed to move a token on your behalf, for example a staking program.
- NFT staking
- Locking an NFT in a program to earn rewards while you keep ownership.
- Aggregator
- A marketplace that shows listings from several marketplaces together. Orbis aggregates Orbis, Magic Eden and Tensor listings.
- Wash trading
- Selling an NFT back and forth between wallets you control to fake volume or price.
- Orbs
- Orbis reward points, earned by buying, selling and listing, and spent on giveaways, boosts and rewards.
- Lamports
- The smallest unit of SOL. 1 SOL = 1,000,000,000 lamports.