Have been thinking a bit about a Noun ERC-20 token and Nounish NFT marketplace. I think it’s inevitable that we eventually build these things, so wanted to get people’s thoughts on it.
We have the resources to build a top tier marketplace and it makes sense to have a Nounish token and I think it only makes sense that the token is called Noggles. The more Noggles are used for transactions across the ecosystem the better it is for Nouns. If ETH is used to transact it doesn’t really help Nouns at all. Noggles could be given as grants, or used to transact in any other Nounish project that might require a transaction between two or more parties.
Nounish marketplace transactions are facilitated in Noggles. Maybe there is a 0.5% fee on each transaction half of which goes back to the treasury and half is distributed to the project or artist. Maybe there’s another clever distribution method on top of this that rewards projects and artists for doing volume based on some pro rata share of total volume done. Need to account for wash trading and maybe there’s separate distributions for artists and projects given that most independent artists cannot match the amount of volume at popular 10k project does.
In regards to the token - Nouns treasury bootstraps liquidity on Uniswap and distributes some initial amount to Nouns holders based on a claiming method for all Nouns that exist at the time the token is created. 1 Noun = Some amount of Noggles. The rest goes back to the treasury for whatever.
I’m interested in exploring building this and getting feedback on the mechanics I mentioned. I built an early NFT marketplace which was acquired by a top 3 exchange and I went on to help them build their NFT marketplace as well.