Home DeFi & NFT Secret DAO Unveiled: Azuki Enthusiasts Demand $39 Million From NFT Founder

Secret DAO Unveiled: Azuki Enthusiasts Demand $39 Million From NFT Founder

Azuki NFT

In a jaw-dropping twist, the crypto world is buzzing with the emergence of a decentralized autonomous organization (DAO) comprised of fervent Azuki enthusiasts. This group has taken the stage by storm, launching a groundbreaking proposal that aims to retrieve a staggering 20,000 Ether (ETH) from none other than Zagabond, the enigmatic founder behind the renowned nonfungible token (NFT) brand Azuki.

This audacious proposal, which kicked off on July 2, has set its sights on Zagabond, whose real identity is revealed to be Alex Xu. The allegations against him are as startling as they are weighty. It is claimed that Zagabond’s involvement in questionable practices across various projects warrants the recovery of a mind-boggling $39 million worth of ETH. These funds were earned from the controversial launch of Azuki’s highly coveted “Elementals” NFT collection. The DAO’s intention is to employ legal means by hiring a lawyer and pursuing legal action against Zagabond to reclaim what they believe rightfully belongs to the Azuki community.

The voting process is currently underway, and the initial results are nothing short of astonishing. An overwhelming majority of 88.11% of AzukiDAO (BEAN) tokens have been cast in favor of the proposed legal pursuit, while 11.9% have expressed their dissent. The clock is ticking, and the proposal is slated to conclude at 6:38 am UTC on July 3, plunging the Azuki ecosystem into a state of suspense as the future hangs in the balance.

While AzukiDAO claims to consist of “OG Azuki holders” who are deeply passionate about the project, doubts and skepticism have emerged regarding the authenticity of the DAO and its alleged connection to the Azuki team. Twitter has become a hotbed of discussions, with a pseudonymous commentator using the handle Tytan.ETH shedding light on the prevailing sentiment among Azuki holders. According to Tytan.ETH, a significant portion of the Azuki community remains oblivious to the existence of AzukiDAO, raising concerns about the legitimacy and intentions of this newly formed organization. Questions about its validity and the potential for fraudulent activities are being raised, casting a shadow of doubt over the DAO’s objectives.

Delving deeper into the origins of AzukiDAO, an examination of the BEAN token contract reveals that it was minted a mere two days ago, sparking further speculation about its sudden emergence. The associated Twitter page was created in June 2023, and the Discord channel presently boasts a modest membership of only 116 individuals. These factors contribute to the air of mystery surrounding the DAO and its purported affiliation with the broader Azuki project.

To shed light on the unfolding drama, Cointelegraph reached out to Azuki, Zagabond, and AzukiDAO for comments. However, as of now, no immediate responses have been received, leaving the community and industry observers craving clarity and answers.

The controversy surrounding the Elementals collection has been the talk of the town since its contentious launch on June 27. Azuki NFT holders and vocal commentators within the wider NFT community have not held back in expressing their discontent with the Azuki team. The Elementals project was first teased during an Azuki-branded event held in Las Vegas on June 23. A select group of Azuki holders were fortunate enough to receive airdropped NFTs, creating a sense of exclusivity and anticipation.

However, the subsequent release of the remaining NFTs on June 27 was riddled with turmoil and allegations of unfair practices. Many participants encountered technical glitches that prevented them from accessing the sale, leading to accusations of favoritism towards insiders. Additionally, concerns were raised about the distribution of the airdropped NFTs and the influence wielded by participants in the BEANZ project.

As the Azuki community grapples with the aftermath of this controversy, the fate of the proposal put forth by AzukiDAO hangs in the balance. The community finds itself at a crossroads, where decisions made in the coming days will have far-reaching implications for the project’s trajectory and reputation.

The wider NFT community is watching with bated breath, recognizing the significance of this case beyond the confines of Azuki. Trust, governance, and accountability are all under scrutiny as the NFT space continues to evolve and mature. The outcome of this high-stakes saga will undoubtedly shape the future landscape of nonfungible tokens, influencing how creators, collectors, and enthusiasts navigate the increasingly complex world of digital art and collectibles.

As the clock ticks closer to the conclusion of the AzukiDAO proposal, stakeholders across the crypto landscape eagerly await the verdict. Regardless of the outcome, the events surrounding Azuki and its controversial Elementals launch serve as a stark reminder of the challenges and intricacies inherent in the rapidly evolving realm of NFTs. The Azuki community, along with the broader NFT ecosystem, stands at a pivotal moment, one that will test their resilience, adaptability, and commitment to building a fair and transparent future for digital ownership.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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