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Ethereum co-developer Buterin, NFT shouldn’t serve celebrities

Are there any opportunities we missed at the NFT? Vitalik Buterin thinks yes.

Vitalik Buterin (Wikipedia)

According to CoinMarketCap, a cryptocurrency exchange on the 24th, Ethereum co-developer Vitalik Buterin is concerned about the risk that the NFT auction will become a “casino that already benefits wealthy entertainers”.

The NFT is mainly in the realm of entertainers, large corporations, and property owners, but Ethereum developer Buterin says that should change.

In Buterin’s recent blog post “Legality is the most important scarce resource,” he uncovers how the NFT craze can be used as a force for good. Like artists, charities, and raising huge amounts of money for a good cause.

Amid the soaring popularity of the NFTs in recent months, Buterin mentions its ability to bring in huge amounts of money, but he shouldn’t be seen as “a casino that already benefits wealthy entertainers.”

Instead, he saw that if people acted collectively, the resources could be a philanthropic cause for those who often suffer from financial difficulties.

It’s not worth it at all to help Musk make another million dollars?!

“There are many situations in life that require cooperative behavior,” Buterin said. “If you act alone in a certain way, you are likely to get nothing (or worse), but if everyone acts together, you can achieve the desired outcome. “I have.”

He also argued that “helping Elon Musk to earn another $1 million is of little social value,” amid thrilling public opinion over the possibility that Elon Musk (CEO of Tesla) recently sold one of his tweets. did.

The very fact that Musk didn’t sell his tweets, but that there was too much public interest… public perception proved Buterin’s thesis as to which NFTs were worth the money.

If NFT enthusiasts divert attention from the celebrity NFT and instead support an NFT with good justifications, such as the Grumpy Cat NFT, which raised $70,000 for a cat shelter, the industry would be on many overlooked social causes. It will be a very valuable force.

“If everyone agrees that some NFTs are fun and others are hard, people will strongly prefer to buy the former NFTs, because it gives more of the right to brag and personal pride in owning it,” he said. And because everyone else thinks the same way… and sells more.”


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