Blockchain

Illuvium Community Blocks NFT Event Over Controversial Figure

Illuvium, an interoperable blockchain game, is working to be a leader in decentralized governance and Web3 gaming. As part of this mission, the project’s community leveraged its decentralized autonomous organization (DAO) to cancel an NFT pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. The event, an “Influencer Illuvitars D1sk Battle,” was part of a series where prominent crypto personalities go against each other to open NFT packs.

However, due to the controversies surrounding Zhu and 3AC, Illuvium’s community expressed concerns over the potential risks of being associated with Zhu, who currently faces various accusations of unethical behavior. Illuvium’s CEO suggested that the matter be voted on by its decentralized council, and following this, the council unanimously voted to cancel the event to avoid any association with Zhu.

According to Illuvium’s council member Deraji, the Illuvium project is committed to avoiding potential association with unethical individuals and incidents that may impede mainstream adoption. “In 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 leveraged our governance model to avoid having our most well-known figure share a stage with Zhu,” Deraji explained.

The Illuvium CEO accepted the outcome and voiced his confidence and belief in the community’s decision. “Although I weighed the benefits against the drawbacks, I will always respect the council’s verdict,” he said.

The DAO’s decision to not risk association with 3AC may have saved them from potential repercussions. On Feb. 10, a crypto exchange project associated with 3AC triggered a backlash from members of the crypto community. Many people were enraged by the launch, with some swearing never to use the exchange.

Additionally, community members have constantly voiced their disapproval of Zhu for his role in the 3AC bankruptcy. On Jan. 3, the 3AC founder started firing off accusations at the Digital Currency Group, alleging that it conspired with FTX to target Terra. However, community members called out to Zhu and asked him to focus on his own misdeeds.

This incident highlights the power of decentralized autonomous organizations and the importance of avoiding potential association with individuals who may harm a project’s reputation. By listening to its community and leveraging its DAO, Illuvium was able to make a decision that aligned with its values and mission.

Source Link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Please enter CoinGecko Free Api Key to get this plugin works.
x  Powerful Protection for WordPress, from Shield Security
This Site Is Protected By
Shield Security