The World Economic Forum Featured Nouns Dao In The January 2023 Insight Report

WEF Is Onto Nouns

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NounsDAO mentioned in a document by World Economic Forum

It is January 2023 and @nounsdao is referenced in the ‘Decentralized Autonomous Organization Toolkit’ published by @wef

"Launched in August 2021, NounsDAO is the governing body of the Nouns ecosystem, a platform for the generation and auctioning of generative NFT art projects. Nouns are on-chain, 32x32-pixel avatar NFTs built on Ethereum, each with its own distinct and randomly selected set of character traits. Each day, the Nouns protocol creates and auctions a new Noun to the highest bidder, and the NounsDAO treasury collects 100% of the ETH earnings (the native cryptocurrency of the Ethereum blockchain) generated from nine out of 10 of these daily auctions. For the first five years of the project’s operation, the proceeds from every 10th Noun auction are delivered to a multisignature (multisig) wallet jointly owned by the 10 Nouns ecosystem founders (known as the “Nounders”).

Each Noun carries membership and voting rights for the NounsDAO, so all Noun holders have a vote in governance matters of the NounsDAO and may submit proposals for member approval. As of October 2022, the NounsDAO treasury held 29,243 ETH. These funds are allocated through proposals by NounsDAO participants (i.e. holders of Nouns, or their third-party assignees) to projects that further the long-term growth and global visibility of the Nouns brand. NounsDAO treasury funds have been used to fund projects such as commissioning monthly Nouns-themed comic books and the establishment of Nouns Studio1, a branding platform for the Nouns ecosystem. The Nouns Foundation was established to provide a legal entity to interface with non-crypto native organizations and fiat-based infrastructures to facilitate the success of these projects."


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