Azuki DAO rebrands to ‘Bean’ as it drops lawsuit against founder

1:34 pm
November 25, 2023
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**Azuki DAO Rebrands to ‘Bean’ and Drops Lawsuit Against Founder Zagabond**

Summary:
Azuki DAO, a decentralized autonomous organization related to the Azuki nonfungible token collection, has rebranded itself as “Bean” and dropped a lawsuit against its founder, Zagabond, concerning a minting issue worth $39 million. The DAO has also shifted its focus to become a memecoin project and has secured $10 million from investors for its development and integration into the Ethereum layer-2 Blast ecosystem. The proposed Bean memecoin will have a total supply of 1 billion.

The Azuki NFT collection consists of 10,000 anime-themed profile pictures, and a second series of 10,000 PFPs, called “Elementals,” was released by Zagabond in June. This led to a decrease in the price of Azuki NFTs and triggered a community lawsuit proposal against Zagabond. The DAO has announced that more details on financing and future developments will be disclosed soon.

**FAQs**

1. What is the reason behind Azuki DAO’s rebranding to “Bean”?
Azuki DAO rebranded itself as “Bean” and dropped a lawsuit against its founder, Zagabond, following a $39 million minting affair. The organization has also shifted its focus to become a memecoin project and secured $10 million for its development within the Blast ecosystem.

2. What is the supply of the proposed Bean memecoin?
The proposed Bean memecoin will have a total supply of 1 billion.

3. What triggered the community lawsuit proposal against Zagabond?
The release of a second series of 10,000 PFPs, called “Elementals,” led to a decrease in the price of Azuki NFTs, causing the community to propose a lawsuit against creator Zagabond.

4. Is there further information about the financing and future developments of Bean?
The developers of Bean have stated that detailed information on financing and a roadmap for future developments will be disclosed shortly.

5. What is the current status of the token distribution plan displayed on Azuki DAO’s website?
The token distribution plan displayed on the main website at the time of publication has been declared “out of date” by an Azuki DAO spokesperson. Further updates may be expected.

By rebranding to “Bean,” the DAO appears to be turning over a new leaf, focusing on its future development and the welfare of its community.


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