The Illuvium DAO community has decided to cancel a proposed gaming session between its CEO Kieran Warwick and the co-founder of Three Arrows Capital, Su Zhu. The decision was reached after a vote on the Snapshot page, with a 100% approval rate. The community is responsible for the NFT gaming project Illuvium: Beyond, which is set to launch soon.
Deraji, a member of the project council, initiated the proposal and expressed concerns over the reputation of the DAO. Having a direct relationship with Zhu could put the DAO’s hard-won image in jeopardy, especially given his recent bankruptcy filing, and cancelling the gaming session will help the project avoid the risks of “scam by association.” Illuvium’s CEO, Kieran Warwick, had invited Zhu to battle with him in the collection game Illuvitars D1sk, to promote the new game.
The decision to cancel the gaming session is significant, as it demonstrates the community’s willingness to prioritize the project’s integrity over individual interests. It also highlights the importance of transparency, fairness, and trust in decentralized autonomous organizations or DAOs. DAOs are organizations that operate on a blockchain, and their decisions are made through voting by their members, who hold tokens or shares that represent their stake in the organization.
Illuvium is an open-world fantasy game that allows players to collect, trade, and battle with NFTs. The game is designed to be played on Ethereum, and it utilizes various technologies, such as Unreal Engine, Chainlink, and IPFS, to provide a seamless and immersive user experience. The game’s NFTs are unique digital assets that can represent characters, weapons, spells, or other gaming items, and they can be owned, traded, and used by players in the game.
Illuvium’s DAO is responsible for managing the project’s development, funding, and governance, and it consists of community members who hold Illuvium’s native token, ILV. The token holders can vote on various proposals, such as funding requests, game updates, or partnerships. The DAO also rewards token holders with ILV for their contribution to the project’s growth, such as testing the game, creating artwork, or providing feedback.
The decision to cancel the gaming session reflects the DAO’s values, such as community consensus, risk management, and ethical conduct. The DAO believes that by cancelling the session, it can ensure a fair and transparent playing field for all players, uphold its reputation in the web3 community, and avoid any legal or regulatory issues. The DAO also recognizes the potential harm that scams or frauds can do to the NFT market, and it aims to promote a sustainable and trustworthy ecosystem for NFTs.
The Illuvium DAO’s decision has garnered support from the web3 community, as it sets an example for other projects to follow. The web3 community aims to create a decentralized, inclusive, and innovative web, where individuals can own and control their data, identity, and assets, and interact with each other without intermediaries or restrictions. DAOs are seen as a key tool for achieving this vision, as they enable collective decision-making, self-governance, and value creation.
The Illuvium DAO’s decision also underscores the benefits and challenges of DAOs. DAOs can provide a more democratic and transparent way of organizing, funding, and executing projects, but they can also face issues such as governance disputes, token manipulation, or legal uncertainties. DAOs require a high degree of trust and coordination among their members, as their decisions can have real-world consequences.
Overall, the Illuvium DAO’s decision to cancel the gaming session with Su Zhu is a positive development for the NFT gaming and web3 communities. It shows that DAOs value integrity and fairness, and that they are willing to make difficult decisions to protect their reputation and interests. It also demonstrates the potential of NFTs and web3 technologies to transform the gaming industry and create new opportunities for players, creators, and investors.
