WTF is Nouns?
Nouns is a generative non-fungible token project on the Ethereum blockchain. At it’s core, Nouns is a protocol for proliferating Nouns. Nouns are 32x32 pixel characters based on people, places, and things. One noun is generated every day.
TL;DR: Nouns is a community-owned brand that makes a positive impact by funding ideas and fostering collaboration.
How it works
One noun is auctioned every 24 hours, forever. People can participate in the auctions by visiting nouns.wtf, which is a website maintained by the founders of the project (”Nounders”).
100% of the proceeds from the daily auctions flow into the NounsDAO treasury. Each Noun represents one vote in all governance matters. Noun votes may also be delegated to individuals or to other groups, such as the Nouncil.
Noun votes are used to direct how the treasury is used. Proposals are created by Noun owners as a governance mechanism that executes a transaction on the Ethereum blockchain if a vote is passed.
Nouns artwork is CC0 (in the public domain) and free to use.
The real magic happens when these components come together to create the Nouns flywheel:
The Nouns Flywheel
- Funds flow into the NounsDAO treasury
- The NounsDAO treasury funds various projects to proliferate Nouns
- The brand of Nouns gains more recognition and awareness
- The Nouns ecosystem and NFTs become more valuable, sustaining auction sales
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Since the IP of Nouns is CC0, anyone can create and build projects using it. Any and all content can be borrowed, copied, remixed, bought, and sold. Building a brand or community from scratch is tough. But with the frictionless ability to participate on any level without asking for permission, the value is in the rapid spreading of the underlying ideas and meaning.
Projects that build upon the idea of Nouns are considered extensions of Nouns. The Nouniverse is the result of this collective, community-driven, permission-less participation and collaboration.
Unified by a shared goal of proliferating Nouns, anyone can share in the economy of ideas and creativity, making it a very exciting place to spend time in Web3.