A "rug" in the context of non-fungible tokens (NFTs) is a term that is used to describe a certain type of NFT that has been deemed to be low quality or without value. The term "rug" is a metaphor that refers to the idea of "pulling the rug out from under" someone, meaning to deceive or trick them.

In the world of NFTs, a rug might be an NFT that is sold as a unique and valuable digital asset, but which turns out to be a copy of an existing NFT or a low-quality or unoriginal piece of art. The term "rug" is often used to warn potential buyers about NFTs that might be fraudulent or overvalued, and to encourage them to do their research and exercise caution when buying NFTs.