Nounish philosophy of subtraction 🧮


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Dear Bankless Nation, 

At this year’s Devcon event, Ethereum Foundation executive director Aya Miyaguchi gave a talk on the EF’s philosophy of subtraction.

This entails subtracting power to avoid the “natural tendency of organizations to grow and accumulate power.” It’s all about fostering a strong decentralized Ethereum community that can thrive with or without the EF.

Interestingly, this week in the NFT ecosystem we saw this philosophy similarly embraced by Nouns DAO as the decentralized collective announced plans to wind down its centralized Discord server for good: 

Why?

To no longer have a single centralized “official” venue where Nouns communications happen. Instead there will bloom many community venues and from that a stronger, more decentralized Nouns ecosystem. 

There’s been plenty of debate about the decision. But in my opinion Nouns DAO continues to be among the most important projects in NFTs because of its willingness to make these sorts of moves. 

In other words, the group boldly pushes out opportunities rather than safely consolidating power, and I think that’s special. Sometimes subtraction is addition. 

All that said, thanks for reading everyone. Now let’s get you caught up on on the other big NFT happenings from this week ✌️

-WMP

🙏 Sponsor: Upgrade to Bankless Premium to receive the new Monthly Token Report!

  • Quix is running an L2 NFT bridging contest through the rest of today. 

  • Rarible unveiled its 2.0 platform, which provides aggregated listings, bespoke collection marketplaces, revamped $RARI rewards, and more. 

  • Tessera is working on new features for Nounlets releases.

  • Reddit Collectible Avatars, which are Polygon-based NFTs, now have ~3M holders

  • Warner Bros. released a digital collectibles series based on the first Lord of the Rings film:

William M. Peaster is a professional writer and creator of Metaversal—a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond!

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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