Reinventing Nouns
AI summary of the linked articleAuditless, a protocol strategy organization, argues that Nouns should build unforkable "poison pill" media assets that can be proliferated, rather than funding one-off brand campaigns. The article says the Nouns treasury, once as high as 30k ETH, is trending toward zero after a fork let arbitrageurs withdraw pro rata shares and drain about half the treasury. It says brand expansion projects succeeded but did not produce ongoing organic demand, and that arbitrageurs still win most daily auctions and keep mounting forks. The author describes the approach as a strategy that straddles both book value and proliferation. |
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2 comments I really enjoyed this helicopter view of Nouns as it helped me notice the structural challenges they're facing. It would be amazing to read Part 2 with more ideas about potential media investments.  A “poison pill” in the DAO context is an unforkable asset. Purchasing a crypto punk has been suggested in the past as one example but would not be considered “Nounish”. That's super interesting! I actually hadn't considered this yet. Basically, the Nouns treasury is incentivized to spend on assets that can be sold for ETH but where reaching consensus on whether they are to be sold for ETH requires a quorum. Instead of Nouns doing finite campaigns for point-in-time brand awareness, it’s time for the DAO to channel brand awareness and build ownership in media assets. This had my imagination run wild. I wonder what fits the bill here |
