Ethereum founder Slams NFTs

Ethereum founder Slams NFTs

Bitcoin Influencers Crypto news Social Technology
June 11, 2022 by Super System
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NFTs are just gambling schemes according to Vitalik Buterin The famed Bored Ape Yacht Club NFT collection does not appeal to Vitalik Buterin, the 28-year-old billionaire founder of Ethereum. “The peril is you have these $3 million monkeys and it becomes a different kind of gambling,” Buterin said recently. Those close to the conversation said
NFT scam

NFTs are just gambling schemes according to Vitalik Buterin

The famed Bored Ape Yacht Club NFT collection does not appeal to Vitalik Buterin, the 28-year-old billionaire founder of Ethereum.

“The peril is you have these $3 million monkeys and it becomes a different kind of gambling,” Buterin said recently. Those close to the conversation said that he was “referring to the Bored Ape Yacht Club.”

According to various analytic sources, BAYC is one of the biggest NFT collections with $1.41 billion in total volume traded. The collection boasts of celebrity owners such as Paris Hilton, Serena Williams, Jimmy Fallon, and much more. A bulk of the top all-time BAYC sales were for over $1 million.

Buterin, on the other hand, has more positive expectations for future Ethereum applications, such as becoming “the launchpad for all sorts of sociopolitical experimentation: fairer voting systems, urban planning, universal basic income, public-works projects,”

Rather, “There definitely are lots of people that are just buying yachts and Lambos,” he said.

He also seemed to equate the millions of dollars in cryptocurrencies contributed to help Ukraine as Russian President Vladimir Putin launched an invasion to money spent on Bored Apes.

“One silver lining of the situation in the last three weeks is that it has reminded a lot of people in the crypto space that ultimately the goal of crypto is not to play games with million-dollar pictures of monkeys, it’s to do things that accomplish meaningful effects in the real world,” Buterin said.

In the coming weeks, Buterin hopes to be “more risk-taking and less neutral,” he said. “I would rather Ethereum offend some people than turn into something that stands for nothing.”