Blockchain technology and cryptocurrency is more popular than ever, and that means crypto Twitter is abuzz with its ever-growing list of popular slang. At the forefront of buying and selling NFTs is the term “GMI”, which is a response to the unpredictable nature of the crypto market cycle. But what is GMI, and how does it relate to crypto assets and exchanges?
Keep reading to find out.
What Is GMI?
GMI refers to the mindset of “Gonna Make It”, which is often echoed throughout NFT Twitter when people are hopeful about a new piece of art or NFT avatar project on a crypto exchange. This crypto slang is used by enthusiasts to remind themselves (and other users) that they are eventually “gonna make it” big with their crypto assets – even if it was actually a bad decision.
What Does “Making It” Mean?
Generally speaking, “making it” in decentralized financial markets refers to when crypto enthusiasts make massive amounts of profit through trading NFTs in the secondary market. This can happen by investing in smart contract-powered NFT profile pictures or minting your own NFTs. In short, someone has “made it” once they have a high-valued NFT and/or crypto portfolio.
That said, “GMI” isn’t something that originated in NFT Twitter. Instead, it has its roots in the fitness and bodybuilding community. Many users post that they are “Gonna Make It” and believe that they have what it takes to work hard and be successful in achieving an athletic physique.
When Do People Use GMI?
“GMI” is an expression of confidence on NFT Twitter, and people who describe themselves this way believe that their cryptocurrency investments are going to make it big on the secondary market. With that in mind, holders of NFTs who understand the complex market conditions, gas prices, and trading fees that come with cryptocurrency trading are also more likely to “GMI.”
Folks who subscribe to the “diamond hands” investment strategy also believe that they are “GMI.” They bank on their appreciation of their digital assets over time, which is reflected by their staunch commitment to HODLing onto their assets through floor price crashes and value spikes. This is in direct conflict with people who have “paper hands”, who would trade their non-fungible token for traditional currency at the first sign of volatility. NFT Twitter decries this strategy as an indication that a person isn’t GMI.
An Example Of GMI
One of the most popular examples of people who have “made it” within the crypto community are the owners of Bored Ape Yacht Club NFTs. They invested early and held onto their tokens, eventually finding themselves in possession of high-value digital assets, which resulted in newfound fortune for many users.
The astronomical returns on these NFTs are now considered legendary in the crypto community, with new investors often citing BAYC as inspiration for their personal choices to HODL so they can GMI, too.
Final Thoughts On GMI
Everyone starts their cryptocurrency journey hoping they’re GMI, but the truth is that “making it” takes a lot of discipline, research, and a relentlessly positive outlook in the face of unpredictable market conditions. While this might seem like a tall order for many new investors, more people are starting to make their cryptocurrency fortunes. So buy early, hold on, and you’re GMI eventually.