- Over 300 Nouns NFTs have joined a growing call to disassociate themselves from the original NounsDAO by forking the DAO
- The split will see the DAO’s multimillion-dollar treasury split between the two teams if the dissenting gains support from 20% of all Nouns NFTs
- The option to fork NounsDAO was passed as part of the DAO’s recent v3 upgrade
NFT projects are enacting new ways of dealing with unhappy supporters with NounsDAO being the latest to allow disgruntled Nouns collectors to fork the DAO and take a share of the multimillion treasury with them. However, the dissenting group has already gained support from the 20% of all Nouns NFTs needed for them to be allowed out of NounsDAO. Over 300 Nouns have already supported the fork whose possibility was baked in the DAOs recent v3 upgrade, although the dissenting group hasn’t revealed their next steps after the split.
Giving the Minority a Voice
Dubbed as ‘rage quitting,’ the move is the opposite of dumping collectibles in the open market as a way of collectors showing displeasure with an NFT project, with others noting that the option to fork a DAO is a way of giving the minority a voice in the project.
Supported by known Nouns collectors such as pseudonymous DCFGod, a successful split will see the NounsDAO treasury worth roughly 30,600 ETH shared between the two groups.
According to the NounsDAO fork page, Nouns holders have four days and 15 hours to join the push with 304 Nouns already transferred to the NounsDAO fork escrow contract. Some entities are even purchasing Nouns in bulk and pledging them to the fork.
Address 0xef…F8dB recently spent 775 ETH to purchase 22 Nouns NFTs, and then transferred all of them to the NounsDAOForkEscrow contract. Nouns DAO Fork has started today and will end on September 16th. A total of 214 Nouns NFTs have been added to the fork, and the fork treasury…
— Wu Blockchain (@WuBlockchain) September 9, 2023
A Fork is Inevitable
There are roughly 840 Nouns NFTs available today and the over 300 collectibles already pledged to the fork represents almost 40% of all NFTs. With the 20% threshold reached, those who pledged their collectibles need to claim their forked Nouns for the new DAO to be operational.
If you joined the nouns fork BEFORE the 20% hit
Then you need to now claim your forked nouns
There’s instructions in this community made dune
If everyone doesn’t claim then the fork has to wait 30 days to start https://t.co/si5huo73V3
— DCF GOD (@dcfgod) September 10, 2023
The push to split NounsDAO comes a few months after the DAO revealed plans to release a comic book series available in physical and NFT forms in partnership with ComicsDAO and Titanic Comics .
With those supporting the split yet to disclose their next move, it’s yet to be seen how differently they’ll manage the project.