Here's a breakdown:
Adverb:
* Meaning: It refers to the present time.
* Example: "I am writing now."
Noun:
* Meaning: It refers to the present moment as a point in time.
* Example: "We're living in a challenging now."
Determining "Now" as a Noun:
* Context: Look for the context. Does it act as a subject or object of the sentence, or is it modifying a verb, adjective, or another adverb?
* Replacement Test: Can you replace "now" with a noun phrase like "this moment" or "the present"? If yes, "now" is likely a noun.
In most cases, "now" acts as an adverb.