Both a title and a privledge given to the manhood of those fortunate enough to have been blessed with a penis that provides women with previously unattainable pleasure and satisfaction. Its what legends are truely made of.
Gf-"Hey babe, I think Mr. Boombastic wants to come out and play with me...can he? Pleeeeeeeeeeease?"
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.