Feb 28, 2023

DAO Blocks Illuvium’s NFT Pack-Opening Event

The Illuvium community has recently made a powerful statement in the crypto and Web3 space after blocking a scheduled NFT pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu.

The event, titled “Influencer Illuvitars D1sk Battle,” was set to be a showdown between two prominent crypto personalities, Warwick and Zhu, to open NFT packs. However, due to the controversies surrounding Zhu and 3AC, the Illuvium community raised concerns over the potential risks of being associated with Zhu, who currently faces various accusations of unethical behavior.

The Illuvium CEO then suggested that the matter be voted on by its decentralized council. After the council unanimously voted to cancel the event, the Illuvium CEO accepted the outcome and voiced his confidence and belief in the community’s decision.

Deraji, an Illuvium council member, explained that the Illuvium project is working to be a leader in decentralized governance and Web3 gaming. To achieve this, the project must “avoid potential association with unethical individuals and incidents that may impede mainstream adoption.”

The DAO’s decision to not risk association with 3AC may have saved them from potential repercussions. On Feb. 10, a crypto exchange project associated with 3AC triggered a backlash from members of the crypto community. Many people were enraged by the launch, with some swearing never to use the exchange.

The Illuvium community’s decision to cancel the event is a strong reminder of the power of decentralized autonomous organizations (DAOs). It also serves as a reminder that NFT marketing and promotion should be conducted with caution.

For those looking to market and promote NFTs, it is important to be aware of the potential risks associated with unethical individuals and organizations. It is also important to ensure that any NFT marketing campaigns are conducted in a manner that is in line with the values and goals of the project.

Furthermore, it is important to note that the NFT market is still relatively new and it is important to keep up with the latest developments in the space. For those looking to get started with NFT marketing, it may be beneficial to seek assistance from a web3 agency or NFT marketing agency.

Overall, the Illuvium community’s decision to cancel the event is a reminder of the power of decentralized governance and the importance of conducting NFT marketing and promotion with caution.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.