Nouns fund CS2 team for 2024
Nouns has passed Proposal 466 and will fund its esports division for the entirety of 2024. For the uninitiated, Nouns is a Decentralized Autonomous Organization (DAO) that is backed by Non-Fungible Tokens (NFTs). The people who support the project are largely those who have been there since the beginning. As of this year, the program supports A Pokemon Unite team, a highly successful Dota 2 team, a Super Smash Bros. division, and many more esports related projects.
Nouns operate much differently compared to other esports organizations as they are entirely transparent. Nouns allows anyone to examine their financial transactions through the blockchain. Nouns originally entered into the CS space in September when they picked up Squirtle Squad and have since then ensured that the squad were supported with salaries, bootcamps, and equipment.
In the recent proposal, Nouns looked to build upon their Dota 2 team, their CS2 team, and other projects. The proposal was to cover salaries for all players, coaches, and even team managers for the year. The previous proposal was expected to expire in early 2024, however this new one look to cement the funding process on an annual basis.
The final tally of votes was 114 for and 11 against, which met the threshold of 47 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 47. The only people allowed to vote on the proposal are those that own one Noun, which is an NFT with today's Noun available for 10.1 ETH each or $22,400. Those looking to create a proposal must own two or more Nouns.
