Binance News | Azuki DAO has announced its rebranding to Bean

The global cryptocurrency market cap now stands at $1.43 trillion, up 0.37% from the last day, according to CoinMarketCap data.

Bitcoin (BTC) traded between $37,531 and $38,414 over the past 24 hours. As of 09:30 AM (UTC) today, Bitcoin is trading at $37,720, an increase of 0.38%.

Most major cryptocurrencies are trading mixed by market capitalization. Market outperformers include SUPER, GMT, and FLUX, up 27%, 19%, and 18%, respectively.

On the other hand: According to Cointelegraph, Azuki DAO, an informal decentralized autonomous community organization focused on non-fungible token (NFT) pools, has announced its rebranding to “Bean” and dropped a proposed lawsuit against the NFT pool’s founder, Zagabond, over Mint issue worth $39 million. . The developers stated that the DAO will be rebranded as a memecoin project and will become part of the Ethereum Layer-2 Blast ecosystem. Bean has reportedly secured $10 million from prominent investors to develop and accelerate it within the Blast ecosystem.

The total proposed Bean memecoin supply would be $1 billion, with 40% of the tokens going to its treasury, 50% to Azuki DAO members, and 10% to Azuki NFT creator Zagabond. Minting will only be available to Azuki NFT holders, who must do so within 24 hours of the token launch or face “token burn.” The Azuki NFT collection consists of 10,000 anime-themed portraits (PFPs). in June.

Zagabond has recently released a second series of 10,000 PFP in the Azuki collection, called "Elementals". However, users noted the close similarity between Elemental PFPs and Azuki PFPs, diluting the latter through increased width. The price of Azuki NFTs reportedly dropped by 44% in the immediate aftermath of Elementals' release, prompting a community lawsuit launched by Azuki DAO against content creator Zagabond. The developers stated that detailed information about financing and a roadmap for future developments will be revealed soon.

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