Pixel character images in the Nouns NFT series are inspired by the phrase 'A star is born every day' and embody the meaning of NFTs. Since August 8, 2021, the series has minted a unique new NFT daily through auctions, honoring this commitment.
As of the publication of this article, the collection has reached 1,433 items and continues to grow. Nouners is the nickname for the ten founding co-founders of the collection, who established the daily update frequency as a hallmark of the series. Nouns has become a unique Ethereum NFT project due to its daily auctions and community-driven governance.
Additionally, the uniqueness of the Nouns universe lies in its contribution to knowledge sharing under the Creative Commons Zero (CC0) public domain and its close connection with Nouns DAO.
Please continue reading to learn more about these colorful, pixelated characters.
Introduction to Nouns
Nouns is a groundbreaking NFT series that has fundamentally changed the way digital art is created, distributed, and managed. The Nouns project is built on the Ethereum blockchain and has garnered attention for its unique open-source intellectual property (IP) and community governance approach. The core goal of the project is to create a thriving ecosystem that fosters creativity and collaboration.
Nouns leverages the power of blockchain technology to introduce a new paradigm in the digital art world, decentralizing and democratizing ownership and participation. The Nouns project stands out not only for its innovative application of technology but also for its commitment to fostering an environment led by the community where every member has a voice.
Learn about NFTs
Before entering the world of Nouns, it is essential to understand what NFTs are and how they work. NFTs, or non-fungible tokens, are unique digital items that represent ownership or authenticity of specific items, unlike cryptocurrencies like Bitcoin or Ethereum which are fungible and can be exchanged one-to-one. NFTs are unique and cannot be exchanged for one another.
They are typically used to represent digital art, music, or virtual real estate, minted on blockchain technology. In the context of Nouns, NFTs are used to represent unique digital characters generated and auctioned every 24 hours. Each Noun NFT is a one-of-a-kind piece of digital art, making the Nouns series an engaging and continually evolving project in the NFT space.
Noun holders can help create the Nouns DAO universe
Each Noun is a 32 x 32 pixel character with various features that have become hallmarks of the Nouns series—from its iconic two-tone glasses (referred to as 'Noggles' by the Noun community) to its pixelated traits and embrace of dynamic colors.
The rarity of Nouns varies based on characteristics such as avatars, accessories, and even body types. Regardless of rarity, PFP NFT holders can access Nouns' decentralized autonomous organization (DAO) and vote on governance issues.
As holders of Nouns, they have the right to participate in proposal voting, shape the future of the project, and manage a treasury used to fund community-driven projects. The DAO is a gathering and custody place for funds generated from Nouns' daily minting, and Nouns members can also submit proposals or ideas on how to use the Nouns brand in web2 and web3 projects.
Each Nouns holder can vote on proposals, but Nouns community members must own at least two NFTs to submit proposals. If a proposal receives enough votes, the Nouns DAO treasury will use its funds to support various projects, such as coffee brands and Super Bowl advertisements.
While the DAO funds finance Nouns' projects, the project's brand can also be freely used by anyone for commercial purposes, as it operates under a Creative Commons Zero (CC0) public domain dedication.
Nouns DAO and Treasury
Nouns DAO is a decentralized autonomous organization that serves as the governance body for the Nouns project. It is a community-driven organization that allows Noun holders to participate in its governance and decision-making processes.
The DAO is responsible for managing the treasury of Nouns, with funds coming from daily auctions of new Nouns. The treasury is a crucial part of the Nouns ecosystem as it supports a variety of community-driven programs and projects.
The treasury is overseen by the Nouns Foundation, ensuring that the allocation of funds promotes the long-term development and prosperity of the Nouns project. By granting the community a voice in the project's direction, Nouns DAO embodies the principles of decentralization and collective ownership.
Noun founders receive installment compensation from the Nouns project
After the series was released, its founders agreed to adopt a phased compensation model, where the founders of the Nouns series would not receive upfront compensation for creating the series, but rather pool the rewards for every ten Nouns into a shared crypto wallet, after which the founders would distribute the NFTs among themselves.
So now, the Noun.wtf code market auto-aggregator displays the nouns for the day, any current bids on them, and the end time of the auction. Every few days, it also shows a note from the founding team.
The explanation states: All proceeds from the Noun auctions will be sent to Nouns DAO. Therefore, we, the founders of the project ('Nounders'), choose to use Nouns to compensate ourselves. In the first five years of the project, every 10 Nouns will be sent to our multi-signature wallet (5/10), where they will vest and be distributed to individual Nounders.
Nouns NFT in coffee and more
In the past, Noun members voted and passed various types of proposals.
For example, before the 2022 Super Bowl, the Nouns DAO community voted to approve a proposal that would gift a Nouns NFT to a brand or company in exchange for their use of Nouns glasses in an advertisement and possibly produce a limited-edition Nouns branded product.
The proposal was approved, and Budweiser Light won as a result. The advertisement features the iconic Nouns glasses set against the backdrop of an art gallery, with the artworks all wearing these glasses.
The iconic Nouns glasses have also been a driving force behind Nouns Coffee, an online coffee brand that sells a variety of products from coffee beans to tote bags, with its iconic character being a coffee bean wearing sneakers and the signature Nouns glasses.
When the Noun founders launched the NFT series, they hoped that others could create their own inspired by Nouns, just like Nouns Coffee.
Today on the Nouns DAO website, the founders continue to emphasize the importance of this mission: 'This treasury is provided for Nouns DAO participants to allocate resources for the long-term development and prosperity of the Nouns project.'
Currently, the Nouns community and its adjacent projects have minted over 1,000 NFTs, and they still have a long creative journey ahead.
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