The Developer of Ethereum Criticizes The NFT Empire.

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

According to analytics portal DappRadar, BAYC is one of the biggest NFT collections on Ethereum, with a total volume traded of $1.41 billion. Many of the top all-time BAYC sales were for more than $1 million, with celebrities such as Jimmy Fallon, Serena Williams, and Paris Hilton as owners.

Buterin told TIME Magazine:

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

According to the publication, he was “referring to the Bored Ape Yacht Club.”

Buterin has higher ambitions for Ethereum’s future use cases, such as being “the launchpad for all sorts of sociopolitical experimentation: fairer voting systems, urban planning, universal basic income, public-works projects,” according to TIME.

Instead, he stated, “There are definitely a lot of people who are just buying yachts and Lambos.”

He also alluded to the millions of dollars in cryptocurrencies given to help Ukraine as Russian President Vladimir Putin launched an invasion, and likened it 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 aims to be more risk-taking and less neutral in 2022. “I’d rather Ethereum offend some people than devolve into something meaningless.”

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