Nouns are an attempt to improve the formation of on-chain communities. Nouns bootstrap identity, community, governance and a treasury.
Nouns is one of the most unique NFT collections in existence. Nouns is an internet community and vibe empowered by a treasury. 1 Noun is minted and auctioned off every day, forever. 100% of the proceeds of the auction go into the Nouns DAO. As a holder of a Noun NFT, you get to vote on proposals for how the treasury is spent. 1 Noun equals 1 vote.
Given the inflationary nature of the auction mechanism, holders are incentivized to foster the growth of the Nouns ecosystem, "the proliferation of Nouns". The Nouns ecosystem is ever-growing, with proposals being funded to grow the brand and thousands of ETH spent by the community in its first year of existence.
The Nouns Auction Contract will act as a self-sufficient Noun generation and distribution mechanism, auctioning one Noun every 24 hours, forever. 100% of auction proceeds (ETH) are automatically deposited in the Nouns DAO treasury, where they are governed by Noun owners.
Each time an auction is settled, the settlement transaction will also cause a new Noun to be minted and a new 24 hour auction to begin.
While settlement is most heavily incentivized for the winning bidder, it can be triggered by anyone, allowing the system to trustlessly auction Nouns as long as Ethereum is operational and there are interested bidders.
One noun, every day, forever.
To proliferate the Nouns brand worldwide.
Nouns artwork is in the public domain
One Noun is trustlessly auctioned every 24 hours, forever.
100% of Noun auction proceeds are trustlessly sent to the treasury.
Settlement of one auction kicks off the next.
All Nouns are members of Nouns DAO.
Nouns DAO uses a fork of Compound Governance
One Noun is equal to one vote.
The treasury is controlled exclusively by Nouns via governance.
Artwork is generative and stored directly on-chain (not IPFS).
No explicit rules exist for attribute scarcity; all Nouns are equally rare.
Nounders receive rewards in the form of Nouns (10% of supply for first 5 years).
Digital artist for TBAC and Chimpers, who has worked with NounsDAO, BAYC x Rolling Stone, RTFKT, Kolectiv, and Interleave.