It is the “fear of missing out” on something NFT or crypto-related that you think others are benefitting from.
The Long Explanation
It is the acronym for the phrase “fear of missing out”, which in the NFT world, refers to the anxiety an NFT enthusiast feels when thinking about NFTs in general, specific NFT projects or events, and the like.
In terms of buying, FOMO kicks in when you come across a hyped NFT project, and feel an urge that you should invest in it before you miss out on the opportunity.
If you are an NFT holder, and constantly concerned about whether you should hold on to an asset or sell it, the anxiety can be referred to as FOMO.
While some people may benefit from their FOMO, a portfolio that largely depends on this condition will lead to negative performances for a regular NFT investor.