FOMO is generally used as an acronym for “Fear of Missing Out”.
In our case, it is a game! Every day, Forever, after the Noun auction ends, the auction must be settled before a new Noun is minted. Long ago, FOMO was created to gamify that process. We log into the website, and see a Noun. As a group, we either click “Thumbs Up” or “Thumbs Down”. Someone can still settle the auction manually at any point while we play, which we call “rugging us”.
Proposal 8 FOMO Nouns was proposed by SharkDAO. The proposal passed and thus https://fomonouns.wtf/ was created.
As of the time of this writing, there is a team working on a proposal for FOMO V2 with some very exciting new features! That prop is on the discourse, go check it out!
https://discourse.nouns.wtf/t/proposal-fomo-v2/1317