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It is a noun with at last four meanings:
1 The study or art of creating new words.
2 The act of introducing a new word into a language.
3 The use of an existing word in a new way.
4 The holding of novel or rational religious views. (Although this definition is now largely obsolete.)
1 Neology is a hobby of mine.
2 I’ve just had a new word accepted by the Oxford English Dictionary. Neology!
3 Urban Dictionary is a catalyst for neology
4 Believing that we are all just the dream of a sleeping cat is not necessarily a neology.
Neology by AKACroatalin April 20, 2015
Related Words

neologyzym

Should I be ashamed of my own neologyzym?
neologyzym by Slavewoman November 8, 2013

nebology 

Doesn’t play any game other than fortnite, and only wears double helix.
Did Nebology touch grass yet? Its been over 2 years.
nebology by ItsOsiris June 18, 2021

Nebology 

"nebology" is a word used to describe a very sad individual who can't stop playing & buying skins on fortnite. these types of individuals brag to all their friends they spend 450$ on a code to "flex" it for a week, and try and justify the purchase to the best of their ability. (the gif shows a visual representation of what they do when said item comes back.)
Dude stop acting like Nebology and actually use your money wisely, you're too old to be blowing money on games.

nekologicalgamez 

A youtuber who looks like a fucking rat on steroids his ears look like a elephants but his channel is okay
Hey man did you watch the nekologicalgamez video?
Nah man he looks like a faggot
nekologicalgamez by Ultra fat cunt September 28, 2018
(noun) The field of study about new things.
“Neology is the one of the newest scientific fields.”
Neology by MaybeARealWord March 30, 2021