Members of a relatively unknown DAO have initiated a proposal that purportedly seeks to claw back 20,000 ETH from Azuki founder Zagabond following the controversial launch of azuki's “Elementals” collection.
from Etherscan shows the contract for the “Bean” token being used to vote on the proposal was minted just two days ago, while the associated Twitter page was created only in June 2023 and its Discord channel shows only 116 members.
Cointelegraph contacted Azuki, Zagabond and AzukiDAO for comment but did not receive an immediate response.Holders of Azuki NFTs and pundits from the broader NFT community have levied a good deal of criticism at the Azuki team ever since the controversial launch of its “Azuki Elementals”The “Elementals” project was first hinted at during an Azuki-branded event hosted in Las Vegas on June 23. A small allocation of the 20,000 NFTs was airdropped to select Azuki holders.
The remaining NFTs became available for purchase at 4 pm on June 27. Existing holders of Azuki NFTs and holders of “BEANZ” — another derivative project — were given a 20-minute pre-sale window.The sale never went public, as the entire collection was snapped up in private sales in under 15 minutes. Overall, the launch earned the Azuki team a total of $38 million.
NFT holders also expressed their concern that releasing 20,000 new NFTs would dilute the value of pre-existing NFTs in the collection. The controversy reached its peak when the project team reportedly transferred 20,000 ETH from the wallet soon after the collection was minted out.
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