A group of unhappy Azuki NFT holders formed the Azuki DAO and demanded a refund of over $38 million from Azuki creator Chiru Labs for "scamming" holders.
A Group of Unhappy Azuki NFT Holders Formed the Azuki DAO
A group of unhappy Azuki NFT holders formed the Azuki DAO and demanded a refund of over $38 million from Azuki creator Chiru Labs for "scamming" holders.
The launch of Azuki Elementals, a spin-off NFT project from the creators of the original Azuki NFT collection, prompted the formation of the DAO. Holders widely criticized the Elementals drop since it resembled the original collection so closely.
However, shortly after the Azuki DAO was created, it was hit with an attack as two hackers exploited a flaw in the Azuki DAO claiming contract and managed to steal 35 ETH, worth around $68,422, from the DAO.
Nonetheless, the DAO has asserted that it has addressed the contract's vulnerability and is conferring with a group of Legal DAO representatives to decide how to best pursue legal action against Zagabond, the founder of Azuki, for allegedly rug pulling holders with the Elementals collection and other past endeavors.
Azuki DAO's actions have been criticized by several other Azuki owners, who claim that the relatively small group of collectors does not represent the desires of the larger Azuki community.
Meanwhile, Azuki has hinted that it was creating an anime series based on its universe of characters. During the community call, the Azuki team elaborated that the series will feature animated shorts that would be self-funded and make use of Web3 technologies. The team is also allegedly planning to update the Elementals artwork to make it more distinguishable from the first collection.
