Nouns, an experimental attempt to improve the function of the on-chain avatar community, works at the intersection of cryptocurrency, governance, intellectual property, NFTs, and philanthropy. One noun is generated per day - a 32x32 pixel character based on people, places, and things that sell for as high as 232 ETH each. It attempts to bootstrap identity, community, governance and a treasury that can be used by the community.
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).