Correct.

1 Peter 2:9-10 says: But you are a chosen race, a royal priesthood, a holy nation, a people for God's own possession, that you may proclaim the excellencies of Him who has called you out of darkness into His marvelous light; for you once were not a people, but now you are the people of God; you had not received mercy, but now you have received mercy. (NAS)

In the Old Testament, the priests were from one tribe of Israel.  This one tribe offered sacrifices for the people.

After Jesus died on the cross and the new covenant was established, each follower of Jesus is considered a priest, offering spiritual sacrifices to God:

"...you also, as living stones, are being built up as a spiritual house for a holy priesthood, to offer up spiritual sacrifices acceptable to God through Jesus Christ." 1 Peter 2:5 (NAS)

In this kingdom, where Jesus Christ is the cornerstone, each Christian is "a living stone" in this "spiritual house" offering up his or her "spiritual sacrifices:"

"Through Him then, let us continually offer up a sacrifice of praise to God, that is, the fruit of lips that give thanks to His name." Hebrews 13:15 (NAS)

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