Last month, Nouns DAO underwent a "fork" as a result of complaints about the DAO's spending patterns. A second fork was then made after a suggestion to compel Nouns to keep using its treasury was made.

In order to safeguard the interests of minorities, Nouns DAO, which generates one NFT every day to fund project promotion, adopted forking in May. The fork, which just ended, involved 62 Nouns, or around 20% of the Treasury's holdings. 2035.49 ether, worth over $3.2 million, was part of the early outflows, which brought the total amount of money lost in the first fork to almost $27 million.

The September fork's participants do not appear interested in rebranding Nouns, despite the fact that the Noun fork process technically permits previous holders to use the project's code for a spinoff project. Less than 1,000 of the original 16,000 ETH were left in the fork's wallet after 224 different transactions by people claiming their part of the ether (ETH) were recorded in the fork contract.

If enough ETH wasn't spent, a Nouns proposal would have depleted the DAO's finances, but it was forked before the voting concluded and doesn't have enough support to pass. Although the Noun price floor is decreasing due to this fork, it is causing some holders to sell their holdings. For instance, long-time Nouns investor Patricio Worthalter sold his shares after obtaining 24 Nouns' worth of treasury cash in the prior fork. In the most recent fork, Worthalter contributed 22 of the 62 participants, and his Noun was bought for 113.33 ETH, or about $357,000 at the time.