Thread by @sdimantha

Another fascinating new NFT project that I've explored is @nounsdao . For a great introduction to the project check out @kevinrose interview with creator @punk4156 here: proof.xyz/nouns-4156/ and their website at nouns.wtf

What is different about Nouns?
1) There will be 1 Noun created every day in perpetuity, no hard caps like the 10K @BoredApeYC / @thecryptopunks PFP projects

2) Each Noun brings membership into the governing Nouns decentralized autonomous organization (DAO). For more on DAOs check out this thread by @owocki and awesome market research report created by @gitcoin and shared by @forefront__

https://twitter.com/owocki/status/1435701069418426369

(to dig into the governing smart contracts check out their fantastic documentation here: nouns.notion.site/Smart-contract…)

3) Some Nouns derivative projects are actually subDAOs. You read that right there are subDAOs. The first subDAO: @sharkdao. @sharkdao has acquired 4 Nouns including PartyNoun! They have visualized this ecosystem here: sharkdao.community/the-basics.svg 🤯🦈

4) The average price of recent successful Nouns auction bids have been hovering around the 130 ETH range (~$440K by today's ETH prices) recently. Even with a theoretically unlimited supply, but there is some cache in being an early Nounder. Every 10th Noun is given to the DAO.

5) Many of the Nouns have a market to themselves, for example PartyNoun (Noun11 nouns.wtf/noun/11). Using @fractional_art you can buy 1 of 118,998 pieces of PartyNoun, though the implied valuation has gone down over time (91 ETH compared to 113 ETH sale price)

6) The Nouns DAO has a team of builders called the @verbs_team who have been key contributors to the ecosystem. More about the team here: verbs.team

7) The Nouns team is teaming up with artist @NoirThierry to fund and conceive of a public arts project to build life-size bronze sculptures of Nouns, using. The project is still in its planning stages: discourse.nouns.wtf/t/nouns-x-noir…

One of my favorite Nouns has to be "Froger" (Pronounced like Roger) / Noun33. @sharkdao had a naming contest and came up with this brilliant name. Check out Froger here: nouns.wtf/noun/33

I'm excited to see the future of the @nounsdao project, its subdaos and derivatives, and will post more as I learn more. Check out the Nouns Notion site for more interesting tidbits! nouns.notion.site/Explore-Nouns-…

@nounsdao Thanks to @sriramk who, during an AMA session earlier this week, inspired me to look into the @nounsdao project as one of the most exciting developments in the NFT/Web3 space