Nouns Marketplace Pod Proposal

NounsDAO NounsDAO Proposals
1

Goal

Create a Nouns marketplace for originals and derivatives projects.

Why?

  • Create a free marketplace for secondary sales of Nouns.
  • Facilitate the derivatives ecosystem: make it easier to search and discover the Nouns ecosystem.
  • Build distribution for the NounsDAO: build community and liquidity that NounsDAO can use to potentially curate in the future.

Considerations

  • 0% fees
  • No official endorsement of derivatives
  • Linked to from nouns.wtf header
  • Feels nounish in branding and aesthetic
  • Entirely open source
  • Low barrier to entry for derivatives to be added to the marketplace
    • This will be manually operated to start and managed by the marketplace pod.
    • We can work on an automated and more trustless way to recognize derivatives and get closer to permissionless listings.

Budget

  • 50 ETH for 6 months of marketplace pod operations

Milestones

  • Design sign off from community
  • 2-4 weeks initial development time
  • Deployed at nouns.town domain (need to confirm)
  • Marketplace launch with initial batch of derivatives
  • Add in Daily Nouns Auction experience
  • Automated derivative addition
  • [Stretch]: Aggregate other marketplaces
  • [Stretch]: Enable swaps

Team
Noun 174 (Jacob)
Noun 178 (Blequity)

Disclosure:
We are the co-creators of Zora, the NFT marketplace protocol. We spend our time building Zora, and have previously created sites like punks.house, blit.house and thegrand.exchange

3 Likes
2

Really excited to see the Daily Nouns Auction experience as another client to interact w the protocol.

Amazing project by stellar team. Full support!

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a great move for our decentralization efforts of the main nouns.wtf app functionality and supporting derivatives.

after 6 months is the plan to request additional funds for continued operations?

4

is there a Dune dashboard or something similar to see volume of the other marketplaces launched on Zora?

5

yep, that’s the plan. I’d imagine that budget could lower and more operational focused to maintain the marketplace since a lot of startup costs are taken on in this first proposal.

FWIW this is why i think open source is important here so it’s easy to be taken on/expanded by the community over time.

1 Like
6

Here’s a dune dashboard for V2 (this will be V3 based). You can see the cryptopunks, blit and other collection volume:

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7

:pinched_fingers:

So excited for this.

Do you have any initial ideas for how the automated trustless derivative addition will happen?

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I was thinking that we could eventually create an onchain registry of NFTs and nounish/not tags for each of them.

This registry could be DAO controlled. The marketplace would auto-support anything with a nounish tag.

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I’m curious about the technical considerations around the derivatives marketplace. Will the solution you have in mind be custodial? Will the bids/asks will be on-chain?

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Non-custodial, and the bids/asks will be onchain. Somewhat similar to the Cryptopunks marketplace.

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Thanks. I feel like fully on-chain works for high value items like punks (maybe… even high value projects like blitmaps trade mostly on OS), but most derivatives have very low floor. For a project like NounPunks (floor 0.03), the cost to list on the deriv marketplace outweighs the 0% fee. For bidders, it’s similar: OS offers both free bidding and no lock-up on funds. Is there a way that these two points can be addressed? I’m not sure a vibrant economy of derivs can be kick started without competing with OS directly.

3 Likes
12

Building upon 0x v4 may be a good fit here - on-chain/off-chain order optionality, gas efficient, royalty support, etc. Regardless, I agree that off-chain orders are necessary for derivatives to see success on the platform.

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13

I think it’s worth getting feedback about this from the extension (derivatives) projects in the Discord about these points. If this proposal is to facilitate the extension ecosystem then choosing the best tech and features for them is key to success.

Another example: bespoke collections like Noadz get their start on OpenSea’s gasless minting system in order to see if there’s demand for their work and not pay the cost if there isn’t. Encouraging more artists to create bespoke Nouns extensions by offering free minting might create a thriving marketplace of interesting projects.

1 Like
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Agreed, we could use Wyvern/0x/Rarible protocol’s for offchain orders. I’ll add that as a milestone to the proposal.

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Awesome. Thanks @jacob!

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love this idea :banana: and agree 100% with 9999’s concerns

it has been hard for any project/community specific marketplaces to really stick outside of punks, but I feel that the nouns community has a chance to support something built for (and from within) the ecosystem

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Two more questions:

Would this marketplace support auctions of derivative NFTs?
Would it support Collection Offers, like LooksRare? - or - could it support Nounish Derivative offers across all collections?

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@jacob @blequity I see this was funded back in April. Is there any update on the project?

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zaak here from the ZORA team that’s working on this project alongside @jacob :wave:

the marketplace is currently live with continuous updates and feature releases planned e.g. exploring offchain orders and allowing users to create private sales.

you can also find the open-source github repo here. the first community contribution was also reviewed and deployed this week! we’re also exploring DevRel initiatives to encourage more community contributions.