![]() Most active DAOs have been formed in the past two years and are generally based around a DeFi or NFT project. While their history is murky and their legal statuses are unclear, their potential is undeniable. Since 100% of auction revenue is deposited into the Treasury, every 10th Noun for the first five years will be gifted to the founders (Nounders).ĭAOs have been all the rage recently.Every Bitcoin is the same as every other Bitcoin. Bitcoin, for example, is a fungible token. ![]() ![]() NFTs are tokens but they are not the same as any other NFT. It is the decentralized alternative to companies. Many crypto projects are governed this way which entails token holders having a vote on how platforms operate. DAO = Decentralized Autonomous Organization.NounsDAO, however, can potentially live forever. The end doesn’t necessarily have to be a resolution but it has to be there.ĪSLSP dabbles with the concept of timelessness but the piece ultimately ends the intention is to elongate expectation. When we ingest content, we expect there to be a beginning and an end. John Cage and NounsDAO are both manipulating our perception of time. 100% of the auction proceeds are deposited into the NounsDAO Treasury, which is governed by the aggregate of Noun NFT holders. Their features are random and are controlled by a smart contract that automatically places the Noun in the winning bidders wallet while simultaneously creating a new Noun to be auctioned off exactly 24 hours later. Each Noun is a generative 32×32 pixel NFT made up of people, places, and things. NounsDAO is an NFT project built on Ethereum that harnesses time as its sole method of distribution and decentralization. On August 9th 2021, NounsDAO auctioned off their second Noun.Īt the time of writing (August 31 2021) NounsDAO is currently auctioning off their 25th Noun and will continue auctioning off new Nouns every day until the end of time… or at least until the end of Ethereum. On August 8th 2021, NounsDAO auctioned off their first Noun. A new Noun will also be auctioned off that day. The final note will occur on September 5th, 2640. The most recent notes, G# & E, were on September 5th, 2020, and the next scheduled note, G#, will occur on February 5th, 2022. 639 years was chosen because that was the age of the aforementioned church. In 1987, Cage adapted it for organ and in 2001 – 9 years after Cage’s passing, a small German church constructed a customized organ to perform this piece over the course of the next 639 years. In 1985, contemporary composer John Cage wrote a solo piano piece called ASLSP (As Slow as Possible) that can last anywhere from 20 to 70 minutes. What Do NounsDAO & John Cage Have In Common? This post was originally released on August 29th and details the form and function of NounsDAO but it does not update the metrics in regards to how many Nouns there are and the associated metrics (average Noun price and treasury holdings). ![]()
0 Comments
Leave a Reply. |