Azuki DAO — the Decentralized Autonomous Group (DAO) behind the OG NFT challenge — is reportedly altering its identify to “Bean” because it rebrands. Apparently, this identify change represents a strategic realignment for the group because it evolves into an intriguing meme challenge.
Poised to be a part of Blur’s newest Ethereum Layer 2 community, Blast, $10 million funding has been secured to facilitate this fascinating meme-inspired initiative, which is claimed to generate a big provide of 1 billion tokens.
Azuki DAO builders not too long ago admitted that its newest token distribution plan isn’t as much as scratch. At present, it points 50% of Bean tokens to Azuki DAO and 40% to the Bean Treasury. In the meantime, the remaining 10% is reserved for the model’s founder, “Zagabond”.
The builders promise an improved monetary endowment and roadmap for future progress.
A New Chapter Following Controversy
The selection for Azuki DAO to embrace a brand new title comes on the heels of a authorized dispute involving Zagabond, associated to Azuki’s newest NFT assortment, “Elementals“.
Elemental NFTs mirrored the artworks of unique Azuki PFP belongings. Consequently, important financial setbacks ensued following the challenge’s launch in June, costing displeased buyers a complete of $39 million — Azuki NFTs devalued by 44% owing to having similarities of the underwhelming endeavor.
Azuki DAO initiated a lawsuit towards Zagabond following this incident. Nonetheless, the scenario has now been rectified by means of the group’s rebranding technique.
Now, as Bean sprouts with a treasury of $10 million and a billion tokens to develop, unique Azuki followers can anticipate a recent meme-centric chapter, taking inspiration from the NFT challenge’s extremely cherished assortment, which was second in line, “BEANZ”.
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