Azuki DAO — the Decentralized Autonomous Group (DAO) behind the OG NFT undertaking — is reportedly altering its title to “Bean” because it rebrands. Apparently, this title change represents a strategic realignment for the group because it evolves into an intriguing meme undertaking.
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 alleged to generate a big provide of 1 billion tokens.
Azuki DAO builders lately admitted that its newest token distribution plan isn’t as much as scratch. Presently, 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 authentic Azuki PFP belongings. Consequently, vital financial setbacks ensued following the undertaking’s launch in June, costing displeased traders a complete of $39 million — Azuki NFTs devalued by 44% owing to having similarities of the underwhelming endeavor.
Azuki DAO initiated a lawsuit in opposition to Zagabond following this incident. Nonetheless, the state of affairs has now been rectified by the group’s rebranding technique.
Now, as Bean sprouts with a treasury of $10 million and a billion tokens to develop, authentic Azuki followers can anticipate a recent meme-centric chapter, taking inspiration from the NFT undertaking’s extremely cherished assortment, which was second in line, “BEANZ”.
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