Last week I came across Noun NFTs, maybe the most groundbreaking NFT project of the year.

Let’s start with a basic description that I expand on in the video:

Nouns are a new profile pic NFT collection that could achieve historical collectible status (think cryptopunks) where each NFT also lets you vote on how to best use a treasury that could eventually hold billions of dollars (making them asset-backed NFTs), and which uses a self-sustaining model that could ensure healthy cashflow, basically forever.

In more simple terms, Nouns are part NFT and part governance token for a DAO.

Why is this a big deal? Part of it comes from the new model that Nouns use, which completely flips everything we’ve come to expect from a profile pic collection. Here are some differences:

– Nouns release only one NFT per day and it’ll go on forever. While this may seem like it doesn’t allow for scarcity, it would actually take 27 years for the collection to reach 10,000 Nouns.

– Nouns aim to be fully decentralized, meaning everyone who owns a Noun has a say on what the roadmap should be, whereas other collections are far more centralized.

– 100% of every sale of the Noun goes into the treasury controlled by the DAO, other collections only see part of sales revenue go into a treasury.

– Nouns use a type of generative art that randomly selects the newest design partly based on the hash of the prior NFT. This is considered to be more elegant than simply “mapping out” the rarity distribution manually before a launch.

– Everything exists on chain, including the Noun artwork itself (other collections use third parties like IPFS).

In the video I explain why this model is superior to the current status quo, and why it’ll lead to a million copy cats (which is bullish for Nouns). I also explain how we’re likely to see many Nouns purchased by other DAOs and communities, which could turn Nouns into something like a governance layer for the metaverse, something that connects Cool Cats, Bored Ape Yacht Club, Pudgy Penguins, Axie Infinity, Illuvium, Decentraland, Art Blocks etc. Of course, much of this depends on the qualities of the people who actually buy the Nouns, since they will be the ones steering the ship. That’s a unique risk for this project.

Finally, I talk about how to think about buying a Noun from a financial perspective. How can you know what you’re buying into and if you’re getting a good deal?

Follow me on twitter: https://twitter.com/GiancarloChaux

Be my friend on BitClout: https://bitclout.com/u/giancarlo_

NOUNS WEBSITE: https://nouns.wtf/
SHARKDAO WEBSITE (TO BUY FRACTIONS): https://sharkdao.wtf/

0:00 Intro
0:52 What are Nouns and how do they work?
1:47 Why the Nouns model is better
4:13 How the Nouns artwork is made (important)
5:47 other differences vs 10k collections
6:20 Why I’m so bullish: reason #1
7:36 Why I’m so bullish: reason #2
9:14 how Nouns can tie the metaverse together
10:03 What is a Noun worth?
12:59 diff paths to success
13:34 the biggest risk

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