NFTs News

Illuvium DAO Takes Stand Against Fraud: Refuses Partnership with Su Zhu

Key Points:

Illuvium DAO is holding a vote to block a proposed crypto gaming session between its CEO Kieran Warwick and Su Zhu, co-founder of Three Arrows Capital.
Deraji argued that direct association with Zhu could risk the reputation that the DAO has worked hard to build.
Illuvium is an NFT-based blockchain game that allows players to capture, trade and battle creatures known as Illuvials.

Illuvium DAO, the community behind the NFT gaming project Illuvium, is holding a vote to block a proposed crypto gaming session between its CEO Kieran Warwick and Su Zhu, co-founder of Three Arrows Capital, a crypto hedge fund that recently filed for bankruptcy.

According to data from Snapshot, there is unanimous support for the proposal, with four wallets casting their lots in favor. The vote began on Feb. 26 and is scheduled to end on March 1.

Deraji, an Illuvium council member, submitted the proposal, citing concerns about the reputation of the DAO. Deraji argued that direct association with Zhu could risk the reputation that the DAO has worked hard to build.

Although Zhu is a well-known figure in the web3 community and has a larger follower count than Illuvium, the proposal stated that canceling the gaming session would help the project avoid the risk of “scam by association.”

Zhu has not yet commented on the matter.

Illuvium is an NFT-based blockchain game that allows players to capture, trade and battle creatures known as Illuvials. The project has gained popularity in the NFT gaming community due to its unique gameplay mechanics and the rarity of its in-game assets.

Illuvium DAO is a decentralized autonomous organization that governs the development and direction of the Illuvium project. The DAO is made up of Illuvium token holders who vote on proposals to determine the future of the project.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.