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Nouns: The Playful Generative Non-Fungible Token Project
If you’ve been exploring the NFT space lately, you’ve likely come across Nouns’ creative pixel art images. These characters are known for their vibrant colors and blocky designs. As the NFT market continues to grow, you’ll undoubtedly see more of these unique and playful characters. One differentiating factor that makes Nouns stand out from other NFT projects is its infinite supply. With Nouns, a new NFT is generated every day forever. But what exactly are Nouns, and how can you get involved in this exciting project?
What Are Nouns NFTs?
Nouns is a generative non-fungible token project built on the Ethereum blockchain. Each Noun is a 32×32 pixel character that can be made up of endless combinations of bodies and accessories, including bodies, accessories, glasses, backgrounds, and heads. The first Noun was auctioned on August 8, 2021, and featured a fox head with pink and purple glasses. All Nouns operate under a Creative Commons Zero (CC0) license, which grants users unrestricted access and usage rights to the artwork.
The Nouns ecosystem operates via a DAO (decentralized autonomous organization), meaning it is community-driven and open-source. The Nouns DAO generates and mints a new Noun every day, which is then auctioned to the highest bidder. All revenue from these auctions goes towards the project’s communal treasury, which funds future creative initiatives.
At the time of writing, there are 646 Nouns NFTs available on the Ethereum blockchain. Ownership of a Noun NFT grants members access to the Nouns DAO, allowing them to participate in the project’s governance and decision-making process. Each Noun represents one vote, and holders can delegate their vote to a trusted third party if they so choose.
Who Created Nouns?
Nouns was created by a group of ten founders, affectionately known as “Nounders.” The Nounders include well-known names in the NFT community like Dom Hofmann (Vine co-founder), Gremplin (CrypToadz founder), and Timpers (Chimpers founder). The founders have opted to receive compensation in the form of Nouns, meaning every tenth Noun generated in the first five years of the project will go to a Nounder’s multisig wallet. This approach helps to ensure that the Nouns ecosystem remains fair and accessible to all participants while supporting the project’s founding members.
How Can You Buy a Noun?
Anyone can participate in Noun auctions on the project’s website, Nouns.wtf. Fans can also create their own Noun using the Nouns Playground and experiment with various traits. All Nouns generated so far are viewable and available for purchase on secondary markets like OpenSea.
What Is the Nouns DAO?
Owning a Noun NFT grants members access to the Nouns DAO, which is responsible for generating new Nouns and managing the project’s communal treasury. The DAO allows members to propose new initiatives and vote on proposals submitted by other members. If a proposal is approved, it is automatically executed as a transaction on the Ethereum blockchain.
The Nouns DAO has funded numerous creative initiatives, including fashion collections, Super Bowl commercials, and more. For example, the project collaborated with Fitz Frames, which provides glasses to kids who lose them or grow out of them, to fund over 3,000 prescription glasses for kids and a specialized examination van delivered in December 2022. Bud Light also acquired Noun #179 for 127 ETH and featured the iconic glasses from the Nouns ecosystem in a Super Bowl LVI commercial.
The Future of Nouns
The Nouns project has come a long way since its inception, and the team behind it continues to have big plans for the future. They’re currently working on implementing new features like private voting, enhanced security measures, and a more dynamic user experience to further strengthen the Nouns ecosystem. As new Nouns are created every day, the DAO is also forging partnerships with brands and creators to fund fresh and innovative projects. As the Nouns community expands and more initiatives are funded, the project’s influence will continue to grow. With its playful characters and endless possibilities, Nouns is definitely one to watch in the NFT space.