Buterin worries about the dangers to overeager investors, the soaring transaction fees, and the shameless displays of wealth that have come to dominate public perception of crypto. “The peril is you have these $3 million monkeys and it becomes a different kind of gambling,” he says, referring to the Bored Ape Yacht Club, an überpopular NFT collection of garish primate cartoons that has become a digital-age status symbol for millionaires including Jimmy Fallon and Paris Hilton, and which have traded for more than $1 million a pop.
“There definitely are lots of people that are just buying yachts and Lambos.”
NFT values have plummeted in the 3+ weeks since this interview.
I’m sort of glad that I don’t understand a word of this.
I have no doubt a lot of people have made real money with crypto. By any definition, however, any crypto is the “fiat-est” of fiat currencies.
No thanks
What a pile of complete BS from the usual Soros-worshipping weenies at Time.
The one thing that the liars at Time forgot to include was that Trump got elected by Russians.
This is the kind of crap that needs to be banned from FR because the propaganda is revolting and obvious.
They aren’t geniuses. They were lucky to get in on the ground floor.