FloorDAO Sends $2.5M to Splinter Group After Months of Fighting Over Financial Commitments

NFT finance-focused crypto group FloorDAO “forked” into two separate entities this week in an effort to shake off FLOOR token investors who disagreed with the project's direction – and its abandonment of its arbitrage-friendly roots. FloorDAO, which seeks to build products for “NFT-Fi,” recently sent over $2.5 million of its treasury – in crypto tokens and NFTs – to a splinter group called FloorkDAO. The splinter group quickly initiated a redemption that paid nearly $5 per FLOOR, close to this year's high water mark for the struggling asset, which is currently trading at $3.88. The exodus is the culmination of months of internal battles over FloorDAO's commitment to its obligations to investors in its FLOOR token.

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