Nouns, the generative non-fungible token (NFT) project, has been making waves in the NFT space. With its playful pixel art images, which feature signature bright colors and simple blocky design Nouns NFT Project. Unlike most NFT projects with a set number of supplies before mint. Nouns are an infinite work of art, generating one new Noun NFT every day “forever.”
As a community-driven brand, Nouns aims to use its open-source IP to empower holders. They can fund their most ambitious dreams and business ideas with their NFTs. The Nouns community is already making its mark as brand ambassadors to innovative ventures. By representing everything from clothing brands to chocolate bars to extreme sports clubs.
Here’s what you need to know about the Nouns project, the ecosystem, and its community.
What is the Nouns NFT Project?
Each Noun is a 32×32 pixel character with almost endless combinations of bodies and accessories. It includes 242 heads, 140 accessories, 30 bodies, 23 glasses, and two backgrounds. The first Noun auctioned on August 8, 2021. It featured a fox as a head and pink and purple two-tone glasses.
Nouns operate under a CC0 license, which places the artwork in the public domain. It grants users unrestricted access and usage rights.
Every day, the Nouns DAO generates and mints a new Noun, which adds to the ever-growing collection. The Noun placed up for auction to the highest bidder. This process ensures that the Nouns ecosystem remains dynamic and continuously evolving. By providing a means for community members to acquire and trade unique NFTs.
One hundred percent of the money from sales goes straight into the project’s communal treasury. Ownership of a Noun NFT grants membership to the Nouns DAO. By allowing the holder to participate in the governance and decision-making process. Each Noun represents one vote.
How many Nouns are there?
Nouns will generate forever, resulting in a neverending supply. At the time of writing, there are 646 Nouns NFTs on the Ethereum blockchain. Currently, 390 owners have one Noun in their wallet.
How can I buy a Noun?
Anyone can participate in Noun auctions. The nouns.wtf website built and maintain by the project founders. Fans are also welcome to create their Noun and play around with the traits on the Nouns Playground. All Nouns created so far can view and purchase on secondary on OpenSea.
Who created Nouns?
The founders of Nouns, affectionately named ‘Nounders,’ are a group of 10 builders, creators, and NFT thought leaders. They first initiated the concept of Nouns and NounsDAO. This includes CrypToadz founder Gremplin, Vine co-founder Dom Hofmann, Chimpers founder Timpers, and Punk4156. Additional Nounders include lastpunk9999, devcarrot, cryptoseneca, eboyarts, punk4464, and _solimander.
To ensure that all proceeds from Noun auctions support the Nouns DAO ecosystem. The Nounders have opted to receive compensation in the form of Nouns. Every tenth Noun generated during the first five years of the project will automatically sent to a Nounder’s multi-sig wallet. Where they will vest and distribute among the project’s founding members.
One of the defining features of the Nouns project is its distribution model. It ensures the ecosystem remains fair and accessible to all participants. Despite the distribution of Nouns to Nounders, the regular cadence of 24-hour Noun auctions never disrupts. Once a Noun generates, it directly sent to the Nounder’s multi-sig. The next available Noun ID made available for auction as schedule. This approach helps maintain fairness and equality within the Nouns ecosystem. It also provides compensation and support for the project’s founding members.
The project’s DAO governance structure provides a means for Noun holders to participate in decision-making processes. Noun holders can propose new initiatives and vote on proposals submitted by other members. If a proposal is approved, it will automatically be executed as a transaction on the Ethereum blockchain. Nouns can also delegate their vote to a third party. A minimum of two Nouns are required to submit proposals.
The Nouns DAO has funded countless creative ideas, including fashion collections, Super Bowl commercials, and more. Notable proposals include NOUNS x Fitz Frames. Partnered with screening and testing partners to provide glasses for kids, and a specialized examination van delivered in December 2022. Additionally, the beer giant Bud Light acquired Noun #179 for 127 ETH. It featured the iconic glasses from the Nouns ecosystem in a commercial that aired during Super Bowl LVI. This demonstrated the growing mainstream appeal of NFTs. The Nouns ecosystem is a major corporation beginning to recognize the unique value of these digital assets.
One of the more recent additions to the Nouns ecosystem is Lil Nouns, a project created within the Nouns DAO. Lil Nouns features a collection of adorable and whimsical Nouns at a more affordable price point. It provides an accessible entry point for those interested in joining the Nouns DAO community but unable to afford a traditional Noun. These Nouns are smaller than traditional Nouns. It measures just 16×16 pixels and features unique and playful designs intended to evoke a sense of cuteness and charm. Artists create Lil Nouns by submitting their designs to the Nouns DAO. Once it gets approved, the Nouns DAO mints and the new Lil Noun adds it to the collection.
The Nouns ecosystem is poised for growth. Nouns DAO developers have announced plans to implement new features, private voting, and enhanced security measures, to strengthen the Nouns ecosystem. Examples include dynamic quorum, ragequit design space, a conditional objection period, and more. With each passing day, as new Nouns are created and the DAO forges partnerships with brands and creators, the growing community of members submitting and approving proposals will continue to expand the influence of the Nouns ecosystem.