TL;DR
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On daily basis a brand new Nouns NFT goes up for public sale (promoting for ~$57k atm) → that cash then goes right into a fund (referred to as Nouns DAO) → the fund then bankrolls concepts and initiatives that can promote the model.
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Certain, the NFTs are presently promoting for round $57k per day…however this time two years in the past they have been reaching as much as $418k.
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There is a group throughout the Nouns neighborhood that owns 25% of all Nouns NFTs…and so they’ve simply determined they need their a reimbursement.
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They’ve voted to take $12.4M of the fund’s $50M and basically return it to themselves. Whether or not you find it irresistible or hate it, it is monetary democracy in motion!
Full Story
A piece of Nouns NFT holders are asking for his or her a reimbursement.
By no means heard of the Nouns NFT undertaking?
The idea goes a bit of one thing like this:
On daily basis a brand new Nouns NFT goes up for public sale (promoting for ~$57k atm) → that cash then goes right into a fund (referred to as Nouns DAO) → the fund then bankrolls concepts and initiatives that can promote the model.
(And the extra Nouns NFTs you personal, the extra say you have got over how the cash is spent).
On prime of that, the undertaking is CC0 (aka copyright free), so anybody can use their mental property, no matter whether or not they personal an NFT.
The thought being: it is going to flip the undertaking right into a globally acknowledged model and add worth to the extremely restricted assortment of NFTs.
In some ways, this method has labored…it feels just like the Nouns branding is all over the place (inside and outdoors of the Web3 bubble).
BUT! That does not imply the undertaking is proof against the ebbs and flows of the present bear market.
Certain, the NFTs are presently promoting for round $57k per day…however this time two years in the past they have been reaching as much as $418k.
So this is the place the ‘rage quitting’ is available in…
There is a group throughout the Nouns neighborhood that owns 25% of all Nouns NFTs…and so they’ve simply determined they need their a reimbursement.
Certain, they might simply promote a few of their NFTs – nevertheless it’d possible be at a fraction of what they paid for them. As a substitute, they’ve voted to take $12.4M of the fund’s $50M and basically return it to themselves.
Whether or not you find it irresistible or hate it, it is monetary democracy in motion!
