Ethereum founder Vitalik Buterin doesn’t seem to be on the same page with the idea of non-fungible tokens (NFT) yet the Bored Ape Yacht Club (BAYC) series.
In a recent statement with TIME Magazine, Buterin strongly criticized a BAYC unit for being able to reach ridiculous price levels:
"It's risky when you own a collection of apes worth $ 3 million and it indirectly becomes a different form of betting."
For the record, BAYC is among the most popular NFT series and became an incredible craze after the launch of ApeCoin (APE) last week.
The collection is launched on the Ethereum network and is ready to be traded on the OpenSea platform.
Not only that, Buterin stressed that the use of crypto can be seen as beneficial during the Russo-Ukrainian war, not for fun.
As a supporter of Ukraine, Buterin explains:
"The situation of the two countries proves that the crypto sector is not for entertainment or to be played with the presence of pictures of monkeys worth millions of dollars. Instead, it realizes things that have a positive impact on the world. ”
To date, Ukraine has received contributions in the form of cryptocurrencies worth $ 7.5 million (in ether) and $ 650.39 thousand (other cryptocurrency assets) making the total value received-$ 8.15 million.
Buterin was clearly frustrated, “I’d rather if Ethereum were to be criticized than to be a useless network”, perhaps referring to its network that is often criticized for its high gas costs.
At the time of writing, Ethereum’s native coin, ETH is trading at $ 2,971.83 per unit, down more than 1% in 24 hours.
