martin ↑ on Warpcast

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https://opensea.io/collection/nouns

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thoughts ? working on a proposal for canonical nouns, using ERC6551, like l00t.world a new take on droposals?

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oh wow i’m changing my mind. looking at it this way it’s super fun and I love it. we’ve always been like “just make any noun you want in the playground and use it as your pfp!” but ppl have always found it non intuitive. maybe this is the better invitation to play with nouns art and make it your own.

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exactly! what do you think of the distribution mechanism for the NFTs? i was thinking VRGDA for head and glassess (more rare/noteworthy) and open edition for the rest at a reasonable price that way we don't set a market price, just choose the distribution rate (i.e. 3 Capybara Heads per year) and let it run

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i kind of want to say it should just all be a fixed price. VRGDAs are good when you want to maintain scarcity (more dynamic than daily auction but still long term guarantee on issuance rate) but why do we want that? this is leaning in the OE direction (not meant to be scare) and we should fully lean into it

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I think scarcity creates value - people don't use a playground Noun or any other Noun derivative because it doesn't feel unique. If anyone can copy my Noun for $5, it's not as valuable. If we do OE and set the price once, I'm nervous about either over or underestimating demand, which could throw off the whole thing.

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I also think _scarcity_ is actually a key thing we are testing here, not just the ERC6551 tech. Droposals and others provide many good options for abundant NFT collecting, and I think Nouns should experiment with scarcity

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i’m rethinking this. nouns already has a scarce pfp. also all pfps are going after scarcity. it’s kind of tired. wouldn’t it be refreshing and amplifying of cc0 ideals to create a low fixed-cost non-scarce pfp? it will also allow us to target a specific price with guarantee (eg $100) where vrgdas we’re guessing

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At its core, I think scarcity is the key to collecting - if the traits are all guaranteed to be open forever, I think we'll have very little demand after the first week. I personally wouldn't find buying traits that are open forever to be that fun - at that point it's easier to mint a png from /playground

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I saw this first-hand when I worked on Top Shot - once we reached Season 3 and we dropped tens of thousands of Moments (not even OE), collector interest dropped significantly. There was no fun in consistently collecting if you knew tens of thousands of people could get the same thing as you.

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