Azuki Holders Call for Return of Ether Following Disappointment with Elementals NFT Mint
– A group of Azuki non-fungible token (NFT) holders is voting to have nearly 20,000 ether returned to them after the Elementals NFT mint.
– Reasons for the vote include disappointment with the collection and allegations of the team scamming purchasers.
– The proposed plan is to allocate the funds to a decentralized autonomous organization (DAO) to support the growth of the Azuki community.
– The DAO currently has 72 members with 36 votes on the proposal, and a significant portion of “yes” votes coming from a single holder.
– Chiru Labs, the company behind Azuki NFT, released Elementals as an add-on to the ecosystem and raised $38 million in 15 minutes, but faced criticism from holders and market watchers.
Community Discontent with Elementals Collection
– Holders and market watchers expressed disappointment with the Elementals NFT collection.
– Many felt that the new NFTs looked too similar to the original Azuki collection, despite having a different branding story.
– The price of Azuki NFTs dropped by nearly 50% due to the release of Elementals.
– Chiru Labs is taking steps to address the concerns and correct the mistakes made with the collection.
Azuki DAO Members Propose Return of Funds
– Some Azuki DAO members want their money back from the Elementals mint.
– They proposed returning the funds to users instead of receiving newer NFTs.
– The members accuse the team of scamming them with empty promises and empathy checks.
– They also suggest hiring a lawyer to take legal action against Azuki creator “Zagabond” for alleged rug pulls.
Controversy Surrounding AzukiDAO
– Some crypto enthusiasts on Twitter question the authenticity and intent of AzukiDAO.
– They speculate that the group may be fake or have malicious intent.
– AzukiDAO claims to be composed of ex-core contributors to Azuki and “diamond-handed” NFT holders.
– The group hopes that their proposal will compel Zagabond to take positive action.
Hot Take
Azuki holders’ frustration with the Elementals NFT collection demonstrates the importance of transparency and differentiation in the NFT market. While Chiru Labs quickly raised significant funds, they now face backlash from disappointed holders. It remains to be seen whether the AzukiDAO proposal will lead to the return of funds and legal action against Zagabond. This situation serves as a cautionary tale for NFT creators to carefully consider community expectations and avoid misleading branding.
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