Lil Nouns is the newest NFT collection featuring a younger version of the Nouns NFT collection. Unlike the usual NFT collection drop, each Lil Noun is minted every 15 minutes. This unique mechanism is automatically generated and will continue forever.
Lil Nouns are essentially a younger version of the successful Nouns NFT collection. Lil Nouns are pixel-art styled 32×32 NFTs, designed in the same way as the original collection. As the name suggests, these non-fungible tokens are characters based on people, things, and place, the true definition of a noun.
Nouns collection originally drops every day, but Lil Nouns drops every 15 minutes and for eternity.
How are Lil Nouns generated?
Lil Nouns are generated through a smart contract mechanism and after every 15 minutes, these NFTs go on auction in the marketplace. Smart contracts are automated programs that are executed once a pre-condition is met. The Nouns team uses this to generate Lil Nouns and claims that this mechanism will continue forever.
Other than that Lil Nouns has also added a few features that many NFT enthusiasts look for in other collections. Lil Nouns also has its “Playground” where users can generate their own Lil Nouns by selecting various given traits as it has a CC0 license (Creative Commons). These personally-generated NFTs are off-chain but they are a good way to explore the dynamics of Nouns.
Lil Nouns DAO
According to the Nouns team, the Lil Nouns NFT collection is the funding source to build the Lil Noun DAO. a Noun-based DAO expansion. In a way, Lil Nouns will help the brand boost its sales and popularity of Nouns.
Lil Nouns DAO works the same way as any other DAO. Each Lil Noun means the individual has one vote in DAO. The voters are allowed to delegate their vote by choice, so they have full authority to operate the DAO.
For every Lil Noun sold, 100% of the earnings go to the Lil Nouns DAO treasury, completely controlled by Lil Noun NFT owners.
Lil Nouns DAO bases its system on having a veto right by the founders @0xsvg and @adelidusiam which means these two have authoritative rights but it is only to protect the NFT project from malicious attacks. This veto right will remain until Lil Nouns’ supply increases and there are enough users to vote on DAO.
To conclude, Lil Nouns are solely launched to boost sales for the Nouns NFT collection. The team behind Nouns is optimistic that by introducing this generative mechanism of NFT drop every 15 minutes, it can draw in more buyers and traders for Nouns NFTs.
Once Nouns supply increases in the NFT market, the Lil Nouns DAO will introduce new projects to bring more opportunities for the holders.
Currently, Lil Nouns’ treasury holds only 20 ETH, around 38,304 USD, which indicates that Lil Nouns still has a long way to go.
