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Nouns are an experimental attempt to improve the formation of on-chain avatar communities. Projects such as Cryptopunks have attempted to bootstrap digital community and identity, while Nouns attempt to bootstrap identity, community, governance, and a treasury that can be used by the community. The Nouns DAO, which utilizes a fork of Compound Governance, is the main governing body of the Nouns ecosystem. It receives 100% of ETH proceeds from daily Noun auctions. Each Noun is an irrevocable member of Nouns DAO and is entitled to one vote in all governance matters.
Nouns are an experimental attempt to improve the formation of on-chain avatar communities. Projects such as Cryptopunks have attempted to bootstrap digital community and identity, while Nouns attempt to bootstrap identity, community, governance, and a treasury that can be used by the community. The Nouns DAO, which utilizes a fork of Compound Governance, is the main governing body of the Nouns ecosystem. It receives 100% of ETH proceeds from daily Noun auctions. Each Noun is an irrevocable member of Nouns DAO and is entitled to one vote in all governance matters.