Ethereum Was Not Built For This: Buterin indirectly swipes at Bored Ape

• Ethereum Founder Vitalik Buterin believes that Ethereum and other cryptos should be utilized for some good causes and meaningful results in the real world. 

• He is a critic of Russia-Ukraine but has signified that it has made people realize the actual use of cryptocurrencies.

• It seems like Buterin is not a big fan of NFTs, as he highlighted them in a recent Time feature. 

Vitalik Buterin, the Ethereum founder, recently got featured in Time magazine. Buterin expressed his concerns about crypto having a high dystopian potential if implemented incorrectly.

And it seems like the Ethereum co-founder is not a big fan of NFTs, he expressed his opinions on the trendy concept of NFTs, highlighting the peril if you own these $3 million monkeys, and this becomes a different type of gambling. 

Although he did not specify a particular name, the NFT enthusiasts know he refers to the Bored Ape Yacht Club NFT project. 

Buterin on Crypto and Russia-Ukraine War:

And further, using the ongoing war between Russia and Ukraine, he signified how the crypto market could offer better value to the users. Buterin has been a significant critic of Russia’s anarchist approach towards Ukraine. 

He often takes to his Twitter to show support towards the local population and asks the ruler Vladimir Putin of his homeland to go for a more peaceful approach and cease the military operations. 

Further directing towards his unfavouring opinions about NFTs, he cited that the Ukrainian government has been highly benefiting from the cryptocurrencies, which he considers is more fruitful and better than buying tokens of apes. 

According to him, one positive aspect of the situation since the past three weeks is that it has reminded people that the purpose of crypto assets is not to play with the million-dollar monkey pictures. But it is to do things that achieve meaningful results in the real world. 

Buterin further expressed the desire to indulge in causes that have an impact on society, even if it results in controversy or criticism of his project. He highlighted that He would rather Ethereum offend some people than turn into something that does not mean anything. 

But no matter from whom the BAYC project is witnessing criticism, it is constantly growing by leaps and bounds. As its creators, Yuga Labs have recently launched ApeCoin (APE), a native token to the BAYC project. They also Tweeted a trailer that somewhat reflected some plans regarding a Metaverse of Bored Ape YC. 

BAYC was launched in April last year and gained considerable popularity in a short time. The 10,000 unique BAYC have a market capitalization of about $3 billion. The Bored Ape NFTs are pretty popular among celebrities. And some of the prominent ones associated with it include Justin Bieber, Shaquille O’Neal, Gwyneth Paltrow, Rapper Eminem, etc.

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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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