How SharkDAO raised over 1,000 ETH to buy 6 Nouns NFTs and become the largest sub-DAO of Nouns DAO
SharkDAO is a sub-DAO of Nouns DAO raising funds to participate in the Nouns ecosystem. Nouns is an on-chain generative NFT project with a daily auction of a 32x32 pixel character with heads that represent a noun like “moose,” “pylon,” or “banana.” SharkDAO brings together Nouns enthusiasts priced out of buying their own Noun with the shared goal of acquiring Nouns and contributing to the Nouns ecosystem. Since their launch in August 2021 SharkDAO has acquired 6 Nouns, put forward several successful proposals in Nouns DAO governance, and brought together over 900 nounish DAO members.
With highly competitive auctions happening every 24 hours, SharkDAO's success was made possible through the flexibility of their Juicebox project settings. From cycle to cycle, SharkDAO enabled or disabled payments and adjusted $SHARK tokenomics (total issuance rate, reserved rate, and issuance reduction rate). With unlocked cycles and no edit deadline, they were able to make changes to their project quickly in response to upcoming Nouns auctions.
Since their launch in August 2021, SharkDAO has raised over 1000 ETH on Juicebox, acquired six Nouns, and brought together over 900 members. They remain active nearly two years later collaborating with artists for NFT drops and working on governance in the Nouns ecosystem. NounsDAO has passed several SharkDAO proposals including Nouns-based short films and FOMO Nouns. SharkDAO has also helped provide eye exams and glasses to thousands of kids in need, donated 5 ETH to the Coral Restoration Foundation, and started a Juicebox project which raised 60+ ETH for co-founder Del Piero's son's leukemia treatment.
Through community ownership and pooling resources, SharkDAO offered a way for members to participate in the Nouns ecosystem despite the high barrier to entry. SharkDAO members can own as little as one $SHARK token and become an active voice in Nouns DAO governance through the sub-DAO. To learn more about the story of SharkDAO, listen to Dropnerd on episode 5 of the Juicebox podcast: https://podcast.juicebox.money.