Nouns DAO Spends $150,000 to Invest in Canned Roasted Bean Project, Funds' Whereabouts Unknown

On April 3rd, as reported by The Block, three years ago, the Nouns community gave the green light to a proposal to invest 135 ETH (which was worth approximately $150,000 at that time) in a project called MOOØNBEANS. The purpose was to produce and sell high-end baked beans based on a recipe provided by Sublime Butter, a handmade butter company based in the UK. Yet, three years have elapsed, and no canned baked beans have been produced. There are also no clear indications of where the funds went. A director at Sublime Butter, Tony Ho, stated that the company never used the funds. In July 2023, the company dismissed founder Chris Mair as a director, accusing him of fraudulently using the brand for investment fundraising. Ho further claimed that the investment funds were directly transferred to Mair's personal wallet, and the subsequent location of the funds remains unknown. The Nouns DAO needs to take legal action to recover the funds as they never entered the company's accounts.