Bean Emerges: Azuki DAO’s Transformation Unveils Memecoin Vision

Bean Emerges: Azuki DAO’s Transformation Unveils Memecoin Vision

In a strategic move set to redefine its trajectory, Azuki DAO, the pioneer behind the original NFT project, is shedding its former identity to embrace the quirky moniker, “Bean.” This rebranding is not merely a name change; it signifies a pivotal shift as Azuki DAO by Chiru Labs transforms into a captivating meme project.

Azuki DAO to Bean: A Memorable Venture with Blast

Bean is gearing up to become an integral part of Blur’s latest Ethereum Layer 2 network, Blast. What adds to the excitement is the substantial backing of $10 million secured for this captivating meme-inspired initiative. The project is poised to introduce a remarkable supply of one billion tokens into the crypto ecosystem.

The recent acknowledgment by Azuki DAO developers that their token distribution plan required an overhaul only amplifies the anticipation surrounding Bean. Under the revised strategy, 50% of Bean tokens go to Azuki DAO, 40% to the Bean Treasury, and the remaining 10% is reserved for the enigmatic founder, Zagabond @ZAGABOND .

Azuki DAO to Bean: A Fresh Chapter Post-Controversy

The decision to embrace the new identity stems from a legal tussle involving Zagabond, the founder, concerning Azuki’s recent NFT collection, ‘Elementals.’ This series, featuring 10,000 PFPs, closely mirrored the original Azuki PFP assets, resulting in a substantial loss of $39 million for disappointed investors. The devaluation of Azuki NFTs by 44% prompted Azuki DAO to initiate legal proceedings against Zagabond.

However, a new dawn has emerged with the rebranding strategy. Bean, armed with a treasury of $10 million and a billion tokens, is set to embark on a meme-centric journey. This marks a promising sequel, drawing inspiration from the beloved ‘BEANZ,’ the second series of Azuki’s highly cherished collection.

Azuki DAO to Bean: Revised Token Supply Plans Unveiled

Bean’s developers, in an effort towards transparency, have presented a revised token supply plan that diverges from the previous information on their website. The updated allocation allocates 50% of $Bean tokens to the Azuki DAO community through an airdrop to holders of the Azuki series NFTs, concluded four months ago. Meanwhile, the Bean Treasury claims 40%, and Zagabond retains the remaining 10%.

The transition from Azuki DAO to Bean, aligning itself with the burgeoning Blast ecosystem, marks a pivotal moment in the dynamic landscape of NFTs and decentralized finance. This shift reflects a growing trend among NFT projects to explore diverse blockchain applications and ecosystems, signaling a maturation of strategies within the sector.

As Bean charts its course in the world of memecoins and integrates with the Blast ecosystem, the project’s future becomes an intriguing narrative that will undoubtedly capture the attention of investors and enthusiasts alike.

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