- AzukiDAO launched a proposal to hire a lawyer to help file a lawsuit against the founder of the Azuki project, Zagabond, for alleged misconduct.
- The move is meant to recover 20,000 ETH from the team and reward and incentivize artists.
- The controversy arose after the launch of Azuki’s new series, “Azuki Elementals,” which sold out in under 20 minutes for 2 ETH apiece.
Background
AzukiDAO has launched a proposal called “Hire a lawyer” to recover 20,000 ETH from Azuki founder Zagabond. The move will help AzukiDAO retrieve 20,000 ETH from the team, promote the entire Azuki community, and reward and incentivize artists. In addition, the fund will go into organizing a research team for the lawsuit. This comes from the launch of Azuki’s new series, “Azuki Elementals.” The series sold out in under 20 minutes for 2 ETH apiece.
Controversy
The NFT collection has been marred with accusations of unfair practices and a suspicious price decline in the original Azuki collection. The collection dropped from over 17 ETH to just 5.8 ETH. Problems arose during the launch such as website overloads causing Mint failures and an extensive functionality overlap between the original Azuki and new Elementals collections. The controversy escalated when the project team transferred 20,000 ETH after launch which led to an uproar by holders who complained about technical issues with artwork resembling original collection.
Proposal
AzukiDAO is launching a proposal called “Hire a lawyer to help community recover 20k ETH from Zagabond”. The proposal includes hiring a lawyer to file lawsuit against founder alleging misconduct & requesting that 20k earned be returned back into organizing research team for lawsuit & rewarding members & incentivizing artists involved in project/universe expansion .
Admission
Azurki later admitted that it “missed mark” saying even though goal is grow Garden & bring in new members ambitious goals caused much controversy .
Conclusion
The proposed move would aim at recovering stolen funds as well as promoting projects within universe expansion & rewarding members who were involved or impacted by alleged misconduct .
