Introduction
A Nouns NFT avatar is a staple of the NFT space and a must-have piece for many of the top NFT collectors. Desired as a collector’s item first, Nouns NFTs also act as a membership pass to the exclusive Nouns DAO, a decentralized organization made up of Nouns holders.
The first Nouns NFT was put up for auction on Aug. 8, 2021 and every 24 hours since that day, one Noun has been auctioned off via the self-sufficient Nouns Auction smart contract.
This is a radically different approach in the NFT space where most other NFT project drops masses of NFTs onto the market all at once.
Nouns have been selling for more 80 eth in a bear market
The actual Floor Price is 99 ETH !!!
Nouns DAO
The Nouns DAO treasury receives 100% of ETH proceeds from daily noun auctions. As of this writing, the Nouns DAO treasury contains more than 26K ETH the equivalent of $44,709,018.39 USD.
Nouns DAO, which is based on Compound Governance, is also the main governing body of the Nouns ecosystem.
Nouns use their voting abilities (1 Noun = 1 vote) to direct the treasury. Nouns can create and vote on governance proposals, which execute transactions on the ethereum blockchain when they are approved.
Nouns can vote on proposals or delegate their vote to a third party. A minimum of 2 Nouns is required to submit proposals.
There are actualy a total of 126 proposals that have been introduced by the Nouns DAO. A majority of them have been approved by voters. Some notable proposals have resulted in the creation of the Nouns Mobile App, the signing of a professional esports team, and the creation of a Nouns Comic. Many other proposals have been executed for charitable donations, Nouns events, and Nouns art projects and displays.
he Nouns DAO and its holder base grow organically every day thanks to its unique daily minting process.
Futur of Nouns ?
Nouns is one of the few NFT projects that feel truly decentralized. It’s amazing how much Nouns has done in one year, from launching a luxury sunglasses brand to sponsoring eSports teams.
If this incredible pace doesn’t stop, it’s not crazy to imagine Nouns being one of the first NFT projects to become a full-fledged brand.