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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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Nouns DAO spent $150,000 to invest in the canned baked beans project, which has been shelved, leaving the whereabouts of the funds a mystery.
BlockBeats news, on April 3, according to The Block, three years ago, the Nouns community approved a proposal to invest 135 ETH (approximately $150,000 at that time) in a project called MOOØNBEANS, which aimed to produce and sell high-end roasted beans using a recipe provided by Sublime Butter, a UK-based artisanal butter company. However, three years later, the project has not produced any canned roasted beans, nor are there clear indications of where the funds went. A manager from Sublime Butter, Tony Ho, stated that the funds were never used for the company, and that the company removed founder Chris Mair as a director in July 2023, accusing him of fraudulently using the brand for fundraising. Ho further stated that the investment funds were directly transferred to Mair's personal Wallet, after which the whereabouts of the funds are unknown. The Nouns DAO needs to take legal action to recover the funds, as they never entered the company's accounts.