Jun 20, 2022
The $34M crypto experiment that went brilliantly well
Heard of Nouns?
Its was an experimental NFT project that launched in August 2021.
I have to say, amongst all the NFTs that I research on, this stood out by a far margin.
Let’s have a quick look at some of the best NFTs out there shall we?
Yuga blew everyone’s mind with the stickiness of Bored Apes, then airdropped Doggies and Mutants.
What they did with the Otherside game, Otherdeeds and Kodas, the marketing and quality of storytelling, was really respectable.
They might really beat Meta to the Metaverse.
Then there is Azuki, filling up the demand for anime-style NFTs, though the recent snafu with Zzzagabond wasn’t cool with the community.
Then there is CryptoPunks, the O.G.
They are like the Christopher Columbus of the New World, the bold pioneers to the NFT world.
In a messy, convoluted space like NFTs, being the first counts.
Now, there’s even a Goblintown.
What’s that?
No worries, its so juicy I wrote an in-depth piece about it already.
Stay tuned.
Back to Nouns.
They were trying to build something radically different from all the other boring NFTs out there.
1 Noun will be minted every 24 hours (imagine a pixelated face with an assortment of accessories like spectacles, beard, crown .etc).
No more, no less.
Each Noun goes for around 100 ETH.
Demand, interest, hype and the community is very strong.
Anyone can own a Noun and they are called “Nounders”.
Each Noun represents 1 vote to the Nouns DAO.
The DAO is whack.
All proceeds raised from selling Nouns goes back to the DAO.
It has huge plans like selling merchandise, doing a documentary film, owning an esports team and even supporting LilNouns (more affordable Nouns for poorer folks like me!).
Oh and you don’t the IP or rights to ANY Nouns.
Meaning you can still make money from the IP but so can anyone.
A radical approach to IP, where you can allow others to market your IP, profit from it and in turn build up your branding.
It seems to be working phenomenally.
When I first heard of it last year, I was skeptical.
I saw the art work and couldn’t figure out where was the value.
I saw bids going up to 120 Eth and thought it was a bubble waiting to be popped.
Well, like how we all thought the last Fast and Furious film will be the last one, similarly, Nouns proved us wrong too.
To consistently sell 1 NFT daily for over 100 Eth is seriously impressive.
I will follow Nouns closely and study their strategies further.
NFTs may have its jokes and memes, but strip away the humour and play, you see how effective it can be to tell stories and build brands.
While most people would observe that it was Nouns NFTs that gave birth to the DAO and allowed the brand to go stratospheric, enabling them to access funding to do so much more.
Technically speaking, I would argue that the NFTs were just a way for Nouns DAO to penetrate the crowded market, ride the hype train and eventually build a global brand and loyal community with breakneck speed.
Wow right?
-
Have you heard of Nouns NFT?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #bitcoin #cryptocurrency #bayc #nft #getrich #airdrop #branding #mastercard #line #revolution #web3
Join Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing
