thought experiment: 

if tomorrow, nouns suddenly removed treasury governance and instead chose a core team solely tasked with using the funds to grow the brand, would avg noun price over the next 30 days:

1. decrease
2. increase
3. stay the same

obv. assuming the core team is very competent and well-respected among the community of holders and prospective buyers. think of Doodles as an analogy

new core team or the literal 10 nounders?

let's say it's a combo of nounders + other people who are very competent + well respected in the space. people like noun 22 for example

totally. my assumption would be roughly stay the same if not slightly decrease. i’m not sure of a specific team config that would “single-handedly” raise the price. i think most buyers like that it’s not a centralized team.

and that’s not a knock on who’s hypothetically in it. could be anyone and SOMEONE still will have issues about why it should be different ppl in the group.

yeah for sure. I think if you decouple the asset from gov rights, the demand sustains, as evidenced by simultaneously consistent auction prices & falling governance participation rate over time.