{"id":4340,"date":"2023-03-01T10:05:17","date_gmt":"2023-03-01T10:05:17","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/03\/01\/illuvium-dao-says-no-to-3ac-founder-nft-news-today\/"},"modified":"2023-03-01T10:05:17","modified_gmt":"2023-03-01T10:05:17","slug":"illuvium-dao-says-no-to-3ac-founder-nft-news-today","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/03\/01\/illuvium-dao-says-no-to-3ac-founder-nft-news-today\/","title":{"rendered":"Illuvium DAO Says \u201cNo\u201d to 3AC Founder – NFT News Today"},"content":{"rendered":"

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Following a unanimous vote from the DAO, Illuvium will not collaborate with 3AC founder Su Zhu on an NT pack-opening event.\u00a0<\/strong><\/em><\/p>\n

The Illuvium<\/a> community does not wish to be associated with the Three Arrows Capital (3AC)<\/a> founder Su Zhu. Hence, the Illuvium DAO is blocking a scheduled pack-opening event between Illuvium CEO Keith Warwick and 3AC founder Su Zhu.\u00a0<\/p>\n

Currently, Zhu is facing accusations of unethical behaviour, and the Illuvium community has pushed back against being associated with the controversial figure.\u00a0Ultimately, the DAO\u2019s voice can overrule even the CEO of the project.<\/p>\n

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Illuvitar D1SK Battles are coming up, and we’ve got an amazing lineup of well-known contestants ready to compete!\ud83d\ude80<\/p>\n

Who would you like to see battle it out? Let us know in the comments below, and stay tuned for updates on this epic event.\ud83d\udd25 https:\/\/t.co\/FikYqPvhOK<\/a><\/p>\n

\u2014 Illuvium (@illuviumio) February 25, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Iluvium council member Deraji believes that the decision will benefit mainstream adoption of the game. Deraji said: \u201cIn this case, the community made their collective voices heard that this event risked the reputation that the DAO has worked so hard to build. We are leveraging our governance model to avoid having our most well-known figure share a stage with Zhu.\u201d\u00a0<\/p>\n

Murky waters<\/strong><\/h2>\n

Su Zhu<\/a> is one of the founders of the now-bankrupt 3AC crypto-hedge fund. Moreover, 3AC is being linked to the Terra Luna crash last year, which is generally bad for business. Hence, the community won\u2019t risk the reputation of the game.<\/p>\n

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Credit Illuvium<\/figcaption><\/figure>\n<\/div>\n

Community power<\/strong><\/h2>\n

Ultimately, the move to cancel the event shows the power of the DAO in Web3<\/a>. Indeed, Illuvium is supported by its community, and important decisions are taken to the vote.<\/p>\n

CEO Keith Warwick is backing the community in its decision.\u00a0<\/p>\n

He told Stockhead: \u201cWhile I knew there was a possibility of community backlash, I also believed that involving him could help us reach new audiences and attract more attention to the project. It was as simple as that, really. But like I say, I totally get the decision.\u201d<\/p>\n

Pack openings<\/h2>\n

Illuvium remains a highly anticipated blockchain game<\/a>, and hype continues to build around this upcoming MMORPG. Furthermore, one way to build hype is through \u2018Celebrity Pack Battles\u2019. Pack Battles involve crypto-famous celebrities opening \u2018D1SK\u2019 packs of Illuvium NFTs. In turn, the winner is the celebrity with the highest-power \u2018Illuvitars\u2019 opened.\u00a0<\/p>\n

Watch this space for more Illuvium updates, as the launch of the game grows closer!<\/p>\n<\/div>\n