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https://opensea.io/collection/nouns
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Elie
@elie
Nouns was a cool experiment. Nothing against the idea. It had potential. But didn't pan out in actuality. Maybe it would have for a different set of holders. This was clear 2 years ago as well. Nouns treasury still holds $20m. So maybe given another few years you'll figure something out.
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LilPing
@pingfeng
What's wrong with the current holders? What kind of holders do you think could make Nouns pan out?
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Elie
@elie
Well this is theoretical. Maybe the experiment was doomed to begin with. But part of it is there’s a large group that are happy to see value evaporate because of the “culture”. A group that was more profit orientated. Ie they could have launched 20+ startups with their $50m+ treasury. But the profit oriented holders decided saw it was a disaster so pilled their funds with the fork. Another thing id change is founders shares. And that nouns keep minting indefinitely. I said this years ago too fyi. But I’d vote to stop founders getting more nouns. And I’d vote to stop printing more nouns. The treasury has more than it can handle. And that’s been the case forever. So better to stop diluting holders and filling up a useless treasury. This basic concept is beyond many nouners though. When I said this to someone a year ago they responded “why would we stop generating revenue with daily auctions” not realising each auction is selling a share in the DAO 🤷♂️
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