I’m Paul Brody and I’m writing a book on Ethereum that will be published in July of this coming year. For my day job, I’m the Global Blockchain Leader at EY (Ernst & Young), but the book is a personal project that isn’t officially an EY publication. The book is called “Ethereum for Business” and contains a brief case study about Nouns DAO in one of the chapters. I’m attaching the text of the case study below and I would just ask that you take a quick look and verify that I have not made any inaccurate statements. If you could reply no later than 20 April 2023, that would be appreciated. I’ll assume if I don’t receive any reply that there’s no objections or errors here. The case study written below is done entirely using publicly available information.
Case Example: Nouns DAO: Compared to many other very complex DAO organizations, Nouns DAO is simpler and clearer to understand: it’s at heart, an art project. Each Noun is 32x32 pixel image that is generated based on a set of rules based on people, places, or things. Each one is an NFT and a new one is made and auctioned off every day. The proceeds go into the Nouns treasury and each noun-owning member can vote on proposals.
Nouns DAO has taken advantage of the mania for art NFT collectibles. Typical nouns sell for between 20 and 100 Eth, basically starting at $35,000 and going up. That’s a lot of money for a 32x32 pixel picture.
The Nouns treasury, as of January 2023 had accumulated nearly 28,000 Eth worth close to $50 million. Proposals on how to spend the money are put up for a vote. The community has funded all kinds of projects from a custom whisky venture to an AI team to design automated content generation tools that work with the Noun images.
I’ll monitor the replies to this posting to check on things.