Illuvium DAO Aborts NFT-Pack Opening With 3AC Because Of The Accusations Involving The Latter Party

Diana Ember
Diana Ember Crypto
3 Min Read

After thwarting a planned NFT pack-opening ceremony between Illuvium  and Three Arrows Capital (3AC), the community that supports Illuvium, an interoperable blockchain game, has shown the strength of decentralized autonomous organizations (DAOs).

In an “Influencer Illuvitars D1sk Fight,” where notable crypto celebrities compete against one other to unlock NFT packets, Warwick was slated to face off against Zhu. The Illuvium community did voice worries about the possible dangers of being linked with Zhu, who is presently the target of several charges of unethical behavior. As a result of the scandals surrounding Zhu and 3AC, Illuvium stopped the initiative.

Illuvium Community Voted for the Ceasal of Relations

The CEO of Illuvium recommended that its decentralized council vote on the issue. The council then unanimously decided to call off the event in order to prevent any connection with Zhu that could create misunderstandings.

illuvium dao aborts nft-pack opening with 3ac because of the accusations involving the latter party

Deraji, a council member for Illuvium, claims that the project strives to be a pioneer in decentralized government and Web3 gaming. It must “avoid possible affiliation with unethical persons and occurrences that may hamper mainstream acceptance” in order to do this. Deraji said that the Illuvium CEO expressed his confidence and support for the community’s choice after hearing the community’s input. I will always respect the council’s decision, he declared, even if I weighed the advantages against the disadvantages.”

The DAO might have Avoided Potential Ramifications

The DAO may have avoided potential ramifications by choosing not to take a chance on affiliation with 3AC. On February 10, a 3AC-related cryptocurrency exchange initiative sparked criticism from the cryptosphere. The debut infuriated a lot of individuals, and several of them vowed never to use the exchange again.

Community members have also consistently expressed their displeasure with Zhu for his involvement in the bankruptcy of 3AC. The creator of 3AC began leveling charges against the Digital Currency Group on January 3 and claimed that it had planned with FTX to target Terra. Community members, however, yelled out to Zhu and urged him to concentrate on his own wrongdoings.

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The thesis I wrote in my last year of university was on future currencies, but it was a very new field for me as the blockchain and crypto world were not that mature yet. Today, I find myself writing on these topics in various news channels, and I can say that I have fulfilled my dreams of university.
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