Nouns are randomly generated based on Ethereum block hashes, and are made up of a combination of different backgrounds, bodies, accessories, heads, and glasses. Each Noun is an attempt to improve the formation of on-chain avatar communities.
One noun is released via auction every 24 hours. One hundred percent of Noun auction proceeds are sent to Nouns DAO treasury, which is made up of all Noun holders.
Because 100% of Noun auction proceeds are sent to Nouns DAO, Nounders have chosen to compensate themselves with Nouns. Every 10th Noun for the first 5 years of the project (Noun ids #0, #10, #20, #30 and so on) will be automatically sent to the Nounder's multisig wallet to be vested and shared among the founding members of the project (nouns.wtf).