Fun

News Feed - 2023-11-25 07:11:00

Zhiyuan Sun14 hours agoAzuki DAO rebrands to ‘Bean’ as it drops lawsuit against founderThe DAO previously proposed a lawsuit against Azuki creator Zagabond over a dilutive $39 million NFT minting that took place in June.5695 Total views23 Total sharesListen to article 0:00NewsJoin us on social networksUpdate - November 25 11:45 AM UTC:This article was updated after receiving a clarification statement from an Azuki DAO spokesperson regarding its token distribution plan. 


Azuki DAO, an unofficial community decentralized autonomous organization surrounding the namesake nonfungible token collection, has announced its rebranding to “Bean" as it drops a proposed lawsuit against the NFT collection’s founder, Zagabond, over a $39 million minting affair. 


In a statement sent to Cointelegraph, Azuki developers said the DAO will rebrand into a memecoin project and become part of the Ethereum layer-2 Blast ecosystem. Developers also claims that Bean has also secured $10 million from “prominent investors” for its development and acceleration within the Blast ecosystem.


The proposed Bean memecoin will have a total supply of 1 billion. In a follow-up statement sent to Cointelegraph, Azuki DAO developers said that the current token supply plan displayed on its website is "out of date." The plan previously states that 40% percent of tokens are allocated to its treasury, 50% to Azuki DAO members, and 10% to Azuki NFT creator Zagabond. The plan also previously stated that minting would only available to Azuki NFT holders, who must do so within 24 hours of the token’s launch or face “token burn.”


The follow-up statement explains that "50% of the $Bean [token] was allocated to the Azuki DAO community for the airdrop of Azuki series NFTs," which concluded four months ago. "The remaining tokens are still in the address," they said. "40% of $Bean [token] was allocated to the Bean Treasury, and 10% of $Bean was allocated to Zagabond, which is currently still in the address."


The Azuki NFT collection represents 10,000 anime-themed profile pictures (PFPs). In June, a second series of 10,000 PFPs in the Azuki collection, dubbed “Elementals,” was released by Zagabond. Immediately after release, however, users noticed the close resemblance of Elemental PFPs to Azuki PFPs, thereby leading to the dilution of the latter through an increase in supply.


The price of Azuki NFTs reportedly fell 44% in the immediate aftermath of Elementals’ release. The move also triggered a community lawsuit proposal launched by Azuki DAO against creator Zagabond. 


“Detailed information on financing and a roadmap for future developments will be disclosed shortly,” developers wrote. Godspeed @cz_binance pic.twitter.com/jIaCj43sx8— ZAGABOND.ETH (@ZAGABOND) November 21, 2023


Related: AzukiDAO proposes to recover 20,000 ETH from Azuki founder ‘Zagabond’# Blockchain# Cryptocurrencies# DAO# NFTAdd reactionAdd reactionRead moreSolana’s genesis story: Anatoly Yakovenko’s vision for a high-performance blockchainBlockchain devs expect complications from EU smart contract kill switchDairy Queen opens NFT pop-up store in China

News Feed

$1.7M in Quadrigacx Bitcoins Move, Court Trustee EY Says Transfers Were ‘Unauthorized’
$1.7M in Quadrigacx Bitcoins Move, Court Trustee EY Says Transfers Were "Unauthorized" On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now
Former FTX exec Ryan Salame to give up $5.9M Bahamas property
Martin Young5 hours agoFormer FTX exec Ryan Salame to give up $5.9M Bahamas propertySalame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.2143 Total views3 Total sharesList
Technical Analysis: Gamestop Partnership Sends IMX 35% Higher
Technical Analysis: Gamestop Partnership Sends IMX 35% Higher Immutable X avoided Thursday’s red wave, and was one of this week’s biggest crypto gainers, following ne
Tether shuns blockchain launch, cites market concerns
Josh O"Sullivan10 hours agoTether shuns blockchain launch, cites market concernsTether’s decision to avoid launching its blockchain stems from the crowded market and strategic alignment with existing platforms.7871 Tot
Mercadolibre Inks Partnership With Mastercard to Secure Its Crypto Ecosystem in Brazil
Mercadolibre Inks Partnership With Mastercard to Secure Its Crypto Ecosystem in Brazil Mercadolibre, one of the biggest “e-tailers” in Latam, has partnered with credi
Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids
Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids Two days ago on December 2, the Ross Ulbricht Genesis Collection auction of non-fungible toke
Ana Paula Pereira7 hours agoCrypto will transcend international currencies — BlackRock CEOLarry Fink states that global investors are increasingly eager to add crypto assets to their portfolios.3779 Total views158 Tota
After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market
After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market On Saturday, members of the forum r/cryptocurrency discussed how the current
Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision
Bitcoin, Ethereum Technical Analysis: ETH, BTC Remain Lower Ahead of Federal Reserve Rate Decision ETH was close to falling below $1,000 on Wednesday, as markets began to prepare f
Polygon’s Discord channel hacked, team works to regain control
Amaka Nwaokocha17 minutes agoPolygon’s Discord channel hacked, team works to regain controlAs the value and popularity of digital assets continue to rise, cybercriminals are also incentivized to exploit any vulnerabili
Bitcoin Price Consolidates In Tight Zone: Why A Crash To $84,000 Is Likely
Este artículo también está disponible en español. Analysts are currently leaning towards a further breakdown in the Bitcoin price, as market volatility has positioned the
Derek Andersen5 hours agoJudge dismisses class-action suit against Uniswap over token scam lossesThe judge showed rare understanding of DeFi technology and stated the defendants would do better to address their complaint