Rain · Buy & Sell Bitcoin, Ethereum, and more in the Middle East
Rain · Buy & Sell Bitcoin, Ethereum, and more in the Middle East

Rain Blog

News and updates from the leading cryptocurrency platform in the Middle East

Noun NFTs are Taking the Crypto World by Storm

By (Rain İçerik Ekibi - Jun 06, 7:00 PM

Nouns have sold over $100M worth of NFTs so far, with 1 Noun every 24 hours, making the average price per one  around $100,000-$200,000. These figures are quite impressive, and they are the reason why this new collection is the focus of this article—read on to find out all you need to know about Nouns.

What are the Nouns?

Let’s start with an interesting aspect, that is, the Nouns are CC0 NFTs, which essentially means that you don’t own the copyright to the actual art piece, only the token it’s associated with. Now this might sound like a red flag for many, but hear us out: by allowing other people to use your NFT’s art, you’re actually involving them in building up around your piece, which will likely have a positive effect on its valuation, making you win in the long run. Whatever this effect might be, it will surely be greater than the value increase you’d have achieved marketing your Noun alone.

Other than that, the actual pieces are quite self-explanatory, they are simplistic characters that resemble the CryptoPunks a bit by style. We’ll discuss their benefits and features in an upcoming section.

Noun’s DAO and Its Rich Treasury

By owning a Noun, you automatically become part of the Noun DAO, which is actually richer than you’d think. In fact, it is said to receive anywhere from USD 100,000-200,000 every single day from royalties. Because of the fact that every single Noun sale contributes to it, this organization reportedly amassed around $48M that it will use to fund exciting projects for the community.

Nouns’ ventures

Let’s take a look at what they use the money for exactly:

  1. Nouns x Madhappy Apparel: A cool wearable drop that included extremely limited and desirable clothing. Funded with 100 ETH (USD 200,000)

  2. Nouns Around Town Documentary Film: this will be a fun documentary about the NounsDAO produced by Stoopid Buddy Stoodios. Also, there will be a Nouns piece built for the Pasadena Rose Parade, as well as 6 human-sized Noun costumes made to popularize the project even more. Funded with 610 ETH (USD 1.2M)

  3. Nouns Esports Team: Nouns will become the official sponsor of the Dota2 professional gaming team. It will change its name to NounsDota, and sign the members of the team for one season, which means each player will have the nouns glasses next to their names (e.g. ChefPuri ⌐◨-◨) Funded with 35 ETH (USD 70,000)

  4. Nouns CC0 Story Foundations and Development: this will involve creating quasi constitutions for Nouns, with six stories per book. Each piece will have a unique storyline, around 20 characters with pictures and descriptions, and many episode ideas. Funded with 148 ETH (USD 300,000)

  5. Nouns Sunglasses: a luxury sunglass line launched in real life with Nouns branding. Funded with 115 ETH + one noun (USD 360,000)

  6. LilNouns: these new NFTs will be small versions of the old Nouns. One LilNoun will be auctioned off every 15 minutes, and they provide a great solution for those who’d prefer something more affordable than the old Nouns, as they are only going for around 0.7-0.8 ETH a piece. LilNouns also have their own DAO, which has already accumulated more than 630 ETH.

Ending Remarks

Nouns are pretty vivid parts of the NFT world, and thanks to their exciting roadmap and desirable artwork, they have already started to gain some traction among early adopters. Many argue that their momentum could last, and they could ultimately hike to the top of the charts if all goes as planned. In any case, to secure one, you will need ETH, which you can buy on Rain.bh faster and easier than anywhere else—only a few clicks, and you’re ready to go!

logo-light

Rain is a Crypto-Asset Services Provider headquartered in İstanbul. Rain provides services to its users at financial institution standards.

Company

Learn

Careers

Social

Scan to download

iOS & Android

Downloads

Copyright 2022 Rain Turkey