First to Find
It is a bit like being the first to ride a roller-coaster; there is a special thrill to being the first, but just about everybody will enjoy the ride!
For some cachers, being First To Find of a new cache is a extra bonus, beyond the regular thrill of the hunt. Many cachers keep a separate count of their FTFs, and regional caching groups often have competition for who has the most FTFs within a geographic area.
Although the person(s) who physically first find the cache may not be the first to get online and report the find, by definition, the FTF goes to the person(s) whose name is at the top of the logsheet. Terracaches take it a step further and offer a separate code to confirm who was the First To Find.
Some caches include a special swag item for the FTF person. With a little creativity, this can be done in all sizes of containers. We set a micro near a new movie theater and put a $5 gift certificate to the theater as the FTF prize.
Sometimes you will also see the terms FTFAP (First To Find After Publication) or FTFP (First To Find Published). These terms are used when a cache is found (and its logbook signed) before it is published. (There are several ways to find caches before they are published, some devious and some not.) The term FTFP was coined by NotThePainter who started using it in the Manchester, NH, area.