1. PixelPlaygroundHome
  2. Web3 News

Illuvium DAO Votes Against Market-Oriented NFT Package Opening Involving Controversial Encrypted Identity

• Web3 News • 121 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 i…

Illuvium DAO Votes Against Market-Oriented NFT Package Opening Involving Controversial Encrypted Identity

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

Interpretation of the news:


Illuvium, a decentralized, open-world RPG built on the Ethereum blockchain ecosystem, recently found themselves at the center of a controversy surrounding their plan to hold a market-oriented Illuvia NFT package opening. News reports on February 28 revealed that Illuvium DAO had voted against the plan due to the involvement of the controversial encrypted identity Su Zhu.

The controversy surrounding Su Zhu’s involvement has been ongoing for some time. While some consider him a prominent investor and figurehead in the cryptocurrency community, others have raised concerns about his previous connections to BitMEX, the now-infamous exchange that faced legal action and penalties for alleged illegal activities.

Many members of the Illuvium community have expressed unease about the potential association with Su Zhu, prompting Illuvium DAO to hold a vote on the matter. Ultimately, the DAO voted against the proposed NFT package opening, citing the risks and negative impacts associated with Su Zhu’s involvement.

This decision highlights the growing importance of community governance in the cryptocurrency and blockchain space, particularly in decentralized projects like Illuvium. The Illuvium DAO, composed of members who hold the project’s native ILV token, serves as a governing body that enables token holders to have a say in the project’s development and decision-making processes.

However, the controversy also underscores the challenges that projects like Illuvium face when attempting to balance the interests of their community with the commercial objectives that often underpin such ventures. NFTs, in particular, have become increasingly mainstream, with high-profile sales and celebrity endorsements driving demand and media attention.

As Illuvium continues to navigate these challenges, it remains to be seen how the project will incorporate community feedback and governance into its future plans. Nevertheless, the DAO’s decision to vote against the market-oriented NFT package opening signals a clear commitment to prioritizing community concerns and taking a cautious, considered approach to commercial ventures.

In summary, the recent controversy over Illuvium’s proposed NFT package opening involving Su Zhu highlights the importance of community governance and balancing commercial interests with community concerns. The Illuvium DAO’s decision to vote against the plan indicates a clear commitment to prioritizing the interests of the project’s token holders and taking a cautious approach to future commercial ventures.

(

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/3941/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/28/2023 09:06
Next 02/28/2023 09:13

Recommended articles