Azuki DAO, a decentralized autonomous organization (DAO) associated with Azuki Non-Fungible Token (NFT) collection, has undergone a brand change in the midst of a $39 million disputed NFT creation event against Azuki’s founder Zagabond.
The brand change comes with the expectation of a strategic shift, aiming for Bean to become a memecoin project and integrate with the new Ethereum Layer-2 project called Blast.
The development team behind the decision to embrace the name Bean has announced receiving significant financial support of $10 million from important investors to expedite the project’s integration into the Blast ecosystem. The total token supply of Bean memecoin will be 1 billion.
Details about the changes made to the project have also been provided. It has been stated that the current token supply plan differs from the information previously shared on their website. According to the old plan, 40% of the tokens would be in the treasury, 50% would be held by Azuki DAO members, and 10% would belong to Zagabond, the creator of Azuki NFT.
According to the updated plan, the distribution will be as follows: the Azuki DAO community, which owns the Azuki NFT series completed four months ago, will receive 50% of the $Bean tokens by airdropping them to the owners of the NFTs. The remaining tokens will continue to be held at the same address. Additionally, the Bean treasury will receive 40% of the tokens, and Zagabond will have the last 10% remaining at the same address.