Illuvium DAO Votes Against Plan To Hold Market-Oriented NFT Package Opening

02/28/2023 09:07 • Digital Disruptors • 122 views

According to the news on February 28, Illuvium DAO voted against the plan of Illuvium to hold a market-oriented Illuvia NFT package opening, because the plan involves the controversial encrypted identity Su Zhu.

Illuvium DAO voted against the NFT package opening jointly held by Illuvium and Su Zhu

Analysis based on this information:

Illuvium is a decentralized autonomous organization (DAO) that operates in the non-fungible token (NFT) space. Recently, the organization was in the news for rejecting a market-oriented NFT package opening plan. The reason for the rejection was because the plan involved the controversial encrypted identity, Su Zhu.

Su Zhu is a well-known name in the crypto space. He is the co-founder of Three Arrows Capital, a crypto management firm, and the CEO of Defiance Capital, a digital asset management company. However, the encrypted identity has also been associated with controversy in the crypto space. For instance, he was recently involved in a controversy over a tweet where he claimed that XRP was an “ERC-20 token” instead of being built on the XRP Ledger.

The controversy surrounding Su Zhu caused Illuvium DAO to vote against the NFT package opening plan that involved him. Illuvium believed that the plan would not align with their values, and it was not worth the risk. The decision by the DAO reflects a growing trend in the crypto space where organizations are scrutinizing their partners closely to avoid any association with controversies or scams.

The rejection of the plan also highlights the power of DAOs to make decisions that impact organizations. As DAOs continue to gain momentum in the crypto space, it is expected that they will play a critical role in shaping industries and driving innovation. DAOs are designed to be decentralized, meaning that they operate on a democratic voting system that ensures everyone’s voice is heard. The concept of decentralization is a powerful one as it brings about transparency, accountability, and inclusivity.

In conclusion, Illuvium DAO’s rejection of the market-oriented NFT package opening plan proves that the crypto space is maturing. Organizations are more vigilant about their partnerships, and it is expected that this trend will continue. While controversy is not new in the crypto space, organizations are taking a stand against it to maintain their integrity and reputation. DAOs will likely play a critical role in shaping the future of the crypto space, and it is exciting to watch how they evolve and impact the industry.

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Illuvium DAO Votes Against Plan To Hold Market-Oriented NFT Package Opening

Illuvium DAO voted against the NFT package opening jointly held by Illuvium and Su Zhu

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