Azuki DAO Rebrands to ‘Bean’ for a Meme-Impressed Future

Azuki DAO — the Decentralized Autonomous Group (DAO) behind the OG NFT venture — is reportedly altering its title to “Bean” because it rebrands. Curiously, this title change represents a strategic realignment for the group because it evolves into an intriguing meme venture.

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 major provide of 1 billion tokens.

Azuki DAO builders just lately 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.

Embracing a New Chapter

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, important financial setbacks ensued following the venture’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 towards Zagabond following this incident. Nonetheless, the scenario has now been rectified by way of 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 contemporary meme-centric chapter, taking inspiration from the NFT venture’s extremely cherished assortment, which was second in line, ‘BEANZ’. 

Need extra? Join with NFT Plazas

Join the Weekly Newsletter
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All funding/monetary opinions expressed by NFT Plazas are from the non-public analysis and expertise of our web site moderators and are supposed as academic materials solely. People are required to totally analysis any product prior to creating any sort of funding.

Digital artwork fanatic who brings a singular perspective to NFT information.