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A fresh wave of controversy surrounds Azuki following the launch of Azuki Elementals. The blue-chip brand\u2019s newly formed DAO aims to retrieve a staggering 20,000 ETH from Zagabond, also known as Alex Xu, the founder of Azuki. Let\u2019s dive in!<\/p>\n
TL;DR:<\/strong><\/p>\n The Azuki DAO, comprising a self-proclaimed \u201cdedicated group of Azuki enthusiasts<\/a>,\u201d initiated the proposal on July 2nd. Essentially, they are seeking to employ legal measures against the founder, Zagabond, for allegedly \u2018rugging\u2019<\/a> multiple projects. The primary target is to recover $39 million worth of ETH earned from Azuki\u2019s contentious Elementals NFT collection. The plan is to allocate any retrieved funds back to the DAO<\/a> with the intention to bolster the growth of the entire Azuki community.<\/p>\n Despite claiming to be comprised of \u201cOG Azuki holders,\u201d the community has raised doubts about the origin and authenticity of the Azuki DAO and its relationship with the Azuki project. Many suspect it to be either a fraudulent entity or one with malicious intentions.<\/p>\n Moreover, the founder of CryptoPhunks, known as Pauly, has escalated tensions with the Azuki NFT collection. They are also threatening legal action against its founder, Zagabond<\/a>.\u00a0Pauly stated, \u201cWe stand ready to assist the Azuki community in their pursuit of legal action against Zagabond.\u201d<\/p>\n The accusations didn\u2019t stop there. In fact, Pauly disclosed that they had spent over a year tracking down Zagabond to recover an astounding $3 million in USDC. Allegedly, Zagabond obtained the funds through fraudulent means. Adding fuel to the fire, the CryptoPhunks founder asserted that Zagabond and his team had siphoned off \u201cwell over $100 million from our communities.\u201d<\/p>\n Now, let\u2019s take a look at Azuki Elementals. In essence, the recent launch<\/a> has been met with intense criticism. After a community airdrop, the remaining Azuki Elementals NFTs were made available for purchase<\/a>. But, it quickly became apparent that the sale was far from fair<\/a>.<\/p>\n Furthermore, the entire collection was swept up in private sales within a staggering 15 minutes. This generated a jaw-dropping $38 million for the Azuki team. The aftermath of the launch triggered a torrent of dissatisfaction. Numerous grievances emerged. These included the minuscule presale window, technical glitches during the minting process due to an overloaded website, and dissatisfaction with the perceived lack of originality in the artwork. Thus, the floor price throughout Azuki\u2019s entire ecosystem went down.<\/a><\/p>\n As the controversy deepens, the Azuki team faces increasing scrutiny from the community. Many are eagerly awaiting how the situation will unfold!<\/p>\nAzuki DAO Seeking $39 Million from Founder Amidst FUD<\/span><\/h2>\n
Azuki Elementals NFT Launch Under Fire<\/span><\/h2>\n