What is FOODNOUNS?

FOODNOUNS is a generative non-fungible token project on the Ethereum blockchain, the treasury of which is managed by a Decentralized Autonomous Organization (DAO). FOODNOUNS started from a fork of Nouns and, like Nouns, FOODNOUNS are 32x32 pixel characters based on people, places, and things. A FOODNOUN is generated every 8 hours. Here are some examples of FOODNOUNS:

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FOODNOUNS DAO MISSION

This is the FOODNOUNS DAO Mission Statement.

FOODNOUNS DAO VISION

This is the FOODNOUNS DAO Vision Statement

FOODNOUNS DAO CORE VALUES

These are the FOODNOUNS DAO Core Values

FOODNOUN AUCTIONS

One FOODNOUN is auctioned every 8 hours, forever. One interface for participating in FOODNOUN auctions is foodnouns.wtf (under construction), which is a website built and maintained by the project founders, known as FOODNOUNDERS.

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In the auction above, FOODNOUN 6 is for sale. There are 5 hours 10 minutes, and 36 seconds remaining in the auction. The winning bid will be automatically and trustlessly sent to the FOODNOUNS DAO Treasury and the winning bidder will win this FOODNOUN, which means that the ERC-721 token will be transferred to their address.

FOODNOUNS Auction Settlement

Because of the way Ethereum works, FOODNOUNS auctions must be settled after they are completed. The auction settlement transaction does three things: 1. Sends the current FOODNOUN ERC-721 token to the winner of the auction, 2. Generates the next FOODNOUN, and 3. Begins the next 8 hour FOODNOUN auction.

FOODNOUNS Community Rescue Wallet

FOODNOUNS supports Food Rescue. In that spirit, if the current FOODNOUN does not receive a bid, it will be sent to a Community Rescue Wallet (CRW). NFTs in the CRW will be managed by members of the Kitchen Nouncil. They can be used to fund Kitchen Nouncil projects via secondary marketplace sales revenues or as giveaways via random twitter spaces and other social media promotions.

FOODNOUNS DAO

The daily FOODNOUNS Auction proceeds are divided in the following manner: 50% to FOODNOUNS DAO Treasury, 25% to NounsDAO Treasury, 15% to the Kitchen Nouncil, 10% FOODNOUNDERS.