Nouns vote to fund team through 2024!
Nouns, for the uninitiated, is a Decentralized Autonomous Organization (DAO) that is backed by Non-Fungible Tokens (NFTs). The people that support the project are largely those that have been there since the beginning. Since its founding, the organization has supported a wide range of different projects, and they do so through voting open to all Nouns NFT owners, but all the information is done transparently and available to access.
In a world of esports stories where organizations have defrauded their players, the transparency of Nouns in their public proposals and voting process has been a breath of fresh air. Nouns originally entered into the CS:GO space in September when they picked up Squirtle Squad and have since then ensured that the squad were supported with bootcamps, salaries, and whatever they needed.
In the most recent proposal to continue funding the esports division, the organization has decided to avoid traditional sponsors like gambling companies and will be using their own projects as advertisements on upcoming esports merchandise which was featured at the BLAST.tv Paris Major Americas RMR.
Additionally, it will cover salaries for all players, coaches, and even team managers for a minimum of 10 months, for an expected expiration around mid-February. With the next Counter-Strike Major in March 2024 in Copenhagen, it is likely that this will take the team through the RMR process once more.
The final tally of votes was 190 for and 110 against, which met the threshold of 99 votes and was passed. The Threshold (minimum number of For votes required to pass a proposal) is set as a function of the number of Against votes a proposal has received. The number of For votes required to pass the proposal reaches a max threshold of 15% of Nouns, which is 99.
The minimum threshold needed is 66 Nouns, which is 10% of Nouns. The only people allowed to vote on the proposal are those that own one Noun, which is an NFT and currently available for 29 ETH each or $54,989. Those looking to create a proposal must own two Nouns.
