The Ethereum Nouns project is creating a new kind of on-chain organization, using daily NFT auctions to grow communities and open source IPs—and has raised tens of millions of dollars worth of ETH to date.
Now, Zora's NFT platform extends that model, empowering almost anyone to create an NFT-based DAO for almost any project.
Nouns Builder is Zora's new tool for creating Web3 organizations like Nouns, using NFT art auctions, collections, and passes to raise money for a buyer-controlled treasury. It is a no-code turnkey solution that is open source and free to use, with the goal of making it easy for the Ethereum DAO to get up and running.
The development of Nouns Builder is very much in line with Web3's decentralized ethos: Noun itself started as a fork of the Zora auction house system, Zora co-founder Jacob Horne told Decrypt. Now Zora has taken the Noun model and made it more accessible to content creators without requiring engineers to fork and modify existing code (which other projects have done).
Nouns launched in August 2021 as the NFT market reached new heights, auctioning one character profile picture (PFP) pixel each day. Initially, what was exciting about the platform was the new one-day cadence and amazing auction prices, with some NFTs selling for hundreds of thousands of dollars in ETH when collectors buy them. into a DAO—or decentralized autonomous organization, basically a tokenized community with a shared treasury. Over time, Nouns has strengthened its greater focus on advancing open-source intellectual property and has used sufficient funds to position Nouns' image in Bud Light commercials and indie films, for example, among other community-approved initiatives.
Nouns exemplifies the NFT-driven model at a high level, which Horne says is “highly aligned with incentives.” The owner is responsible for working to advance the Nouns brand to build and maintain value. Horne cites the “devs do something” meme that has proliferated on Twitter; in the Noun model, members cannot rely on an external development team to work.
Horne believes the model “addresses a lot of structural problems” with large-scale profiling projects—such as Bored Ape Yacht Club, CryptoPunks, and Doodle—which each reach 10,000 NFT. He also suggested that NFT-based gradual expansion and membership would allow for more stable growth and increased activity than the token-driven DAO model.
“I've seen a lot of tokens. I don't see a lot of organizations,” Horne said of the DAO landscape, noting the chain's low participation in proposals with many such communities. "We've seen the term DAO used a lot, but in practice, I don't know if we actually see it."
in a real sense."
Most DAOs probably won't raise tens of millions of dollars selling NFTs, like Nouns has, but Zora thinks the model still makes sense for a wide variety of organizations—including social groups, DAOs that collect art or other assets, communities that support protocols or platforms. , and DAO Nouns-esque focuses on spreading memes.
testing out @nounsbuilder and maybe messing around and launching fuckDAO.
one fuck? every day? forever? pic.twitter.com/SbMOmXujTN
— ripe (@ripe0x) October 27, 2022
Nouns Builder takes flight
Nouns Builder launched on the Ethereum mainnet last week and has already attracted several new builders. One example, Purple DAO, is a community focused on advancing Farcaster, a decentralized social media protocol. Every day, Purple DAO auctions off a simple, identical purple block as entry to that community.
It's not about art in that case, of course: the buyer is raising funds for a community proposal meant to advance the Farcaster ecosystem in the process. Horne says Nouns Builder is broadly adaptable to accommodate different types of projects with different auction cadences and incentive adjustments making it suitable for any purpose.
Zora has also launched a DAO Builder, which not only uses the Nouns Builder but will also let members set the tool protocol going forward. The team launched a proposal to Nouns DAO today for financial support, with hopes of generating a 1,000 ETH ($1.57 million) grant for the seed Builder DAO and enabling further development and support of Nouns Builder.
Zora was founded in 2020 by a trio of Coinbase Veterans and recently raised $50 million in May at a $600 million valuation. The platform protocol has been used to score more than 1.1 million NFTs to date, and the startup has long focused on helping creators build community through Web3. Nouns Builder is the latest evolution of that.
“We want to help bring as much creativity on-chain as possible,” said Horne. “It helps the community itself to connect in ways we haven't seen before.”
source: data.emka.web.id/2022/sekarang-siapapun-dapat-membuat-ethereum-nft-dao-dengan-zoras-nouns-builder/