Understand everything about the NFT Nouns collection

Nouns, an NFT collection that mixes pixelated images and a DAO, a decentralized autonomous organization, is rocking the market and popping up all over the place. Let’s see how they work and understand brand building.

what are nouns

In some, they are non-fungible tokens (NFT) and they are a good example of a profile picture collection (PFP) being used profile images on social media.

So too, the Nouns are on the Ethereum network, created to improve community interaction. The DAO Nouns do this by using their treasure to build and sustain this community.

Although it’s been just over a year since the first Nouns NFT, a character with head in fox and monoculars pink, was auctioned. During this periodthe Nouns DAO grown up constantly and now has just over 29,000 ETH (about $45 million) in its treasurea safe box used to fund various initiatives, from donations of charity until appointment of a new species🇧🇷

Who invented the Nouns?

Inspired by an anonymous member’s Tweet, punk 4156. After interest grew in the idea, he followed up with a series of tweets describing the structure that would invariably become Nouns.

Subsequently, a group of ten Nounders (what the Nouns call their co-founders), including Vine founder Dom Hofmann, began working through a shared Discord and created the DAO, using the Punk 4156 sketch as guide.

Construction of the Nouns

Each Noun is a small 32 by 32 pixel image that has been algorithmically generated and created directly on the Ethereum network. In this way, algorithm creates NFTs from a combination of body types, clothes and other factors.

On the contrary of offer limited of PFP NFTs like CryptoPunks or Bored Ape Yacht Club, the Nouns have a new NFT generated randomly and auctioned every 24 hours. According each auction It is closedother Nouns unique is created (with base in a set in attributes predefined) and the process if repeat “forever” according to them.

Some DAO

All Noun Holders can join DAO to help with the project, whether it’s voting on proposals, working on the project, and more. Anyone who has at least one Noun can vote, however, only those who have two or more Nouns can submit proposals.

How to buy a Noun

Launching August 8, 2021, Nouns are released for auction on the Nouns website, with a new one spawned and offered for sale every 24 hours. They are also available on secondary markets such as OpenSea. NFTs are launched on the Ethereum network.

Surprisingly on the marketplaces, Nouns cost from 65ETH at the time of writing this article, around R$500 thousand. With a small amount of Nouns available so far, around 495, they are highly scarce compared to collections like Bored Ape with 10,000 NFTs.

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