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Vitalik Buterin Slams BAYC, Says ETH Is Not Built For That


Vitalik Buterin slams BAYC and said ETH was not built to do that and to be used like the bored Ape Yacht cLub is doing, saying that the NFTs are another form of gambling as we can see more today in our latest Ethereum news.

The co-creator of Ethereum is known for his strong opinion on matters related and unrelated to crypto. He has been featured in a Time Magazine interview which had the entire crypto world watching. People who have been following the crypto space for a few months now are surely aware that the non-fungible tokens are where all the hype is. There’s one particular project that was unable to come off of major headlines and that is the Bored Ape Yacht CLub.

Buterin didn’t appreciate what has been going on and was especially concerned about the prices of the BAYC NFTs. He said:

“The peril is you have these $3 million monkeys and it becomes a different kind of gambling.”

The bored Ape Yacht Club remained the most popular collection, by all means, floor price, popularity, volume, and market cap. The hype around BAYC surged last week when Yuga LAbs launched the APE Coin. This is the crypto that underpins the entire BAYC ecosystem and made headlines because it got airdropped to holders of BAYC-related NFTs that recieved thousands of dollars for holding their Bored Apes.

BAYC’s Yuga Labs , larva labs, cryptopunks
Bored Apes

Buterin slams BAYC and talked about the situation between Russia and Ukraine as well, becoming one of the most vocal supporters of Ukraine and proclaiming that he will not maintain neutrality in such a conflict. He said:

“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.”

When talking about things he would like to change abou himself, he said that he hopes to be more risk-taking and less neutral:

“I would rather Ethereum offend some people than turn into something that stands for nothing”

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