The names, an NFT group that mixes pixel art and DAO, a decentralized autonomous organization, are shaking up the market and popping up all over the place. Let’s take a look at how they work and understand brand building.
What are the names
Names are Non-Fungible Tokens (NFT) and are a good example of a set of profile pictures (PFP) being profile pictures used on social networks.
Likewise, names are part of the Ethereum network, which was created to improve community interaction. DAO names do this by using their treasures to build and maintain this community.
Although it’s been just over a year since the first Nouns NFT, a Letter With President in the Fox And single pink, it was auctioned off. during those a periodnouns DAO Senior consistently and now has just over 29,000 ETH (Around $45 million) in his country treasurea safe box Used to fund various initiatives, from Donations From friendship to an appointment again classify.
Who invented the names?
Inspired by a tweet by an anonymous member, punk 4156. After interest in the idea picked up, he followed it up with a series of tweets describing the structure that would always become names.
Then, a group of ten Nounders (what the Nouns call their co-founders), including Vine founder Dom Hofmann, worked through a joint Discord and created a DAO, using Punk 4156’s sketch as their guide.
Each name is a small 32 x 32 pixel image generated by algorithms and generated directly on the Ethereum network. In this way, the algorithm creates NFTs from a combination of body types, clothing, and other factors.
unlike Displays Limited From PFP NFTs like CryptoPunks or Bored Ape Yacht Club names have a new NFT I was born randomly It is auctioned every 24 hours. according to All auction it’s a closedelse Names unique created (with base in a group in characteristics predetermined) and the operation if repeat Forever, according to them.
The names are DAO
All Nameholders can join the DAO to help out with a project, whether that’s voting on proposals, working on a project, and more. Anyone with at least one name can vote, however, only those with two or more names can submit proposals.
How to buy a name
Launched from August 8, 2021, the names are going up for auction on the Nouns website, with a new one being created and offered for sale every 24 hours. It is also available on secondary markets such as OpenSea. NFTs are launched on the Ethereum network.
Surprisingly, in the markets, names cost from 65ETH at the time of writing, around R$500,000. With a small amount of names available so far, around 495, it’s extremely rare compared to pools like Bored Ape with 10,000 NFTs.