Ethereum co-founder Vitalik Buterin speaks at ETHDenver on February 18, 2022 in Denver, Colorado. MICHAEL CIAGLO—GETTY IMAGES

‘With these $3 million monkeys, it becomes a new type of gambling,’ says Ethereum founder.

However, Ethereum billionaire co-founder Vitalik Buterin dislikes the Bored Ape Yacht Club NFT collection.

Buterin, 28, said TIME Magazine that having $3 million monkeys makes it a risky game. The Bored Ape Yacht Club, he said.

According to DappRadar, BAYC is one of the largest NFT collections on Ethereum, with $1.41 billion in total volume transacted. Celebrities including Jimmy Fallon, Serena Williams, and Paris Hilton owned several of the top BAYC sales of over $1 million.

Ethereum might be used for “all kinds of sociopolitical experimentation: better voting systems, urban planning, universal basic income, public-works projects,” according to TIME.

Instead, “many individuals are simply purchasing boats and Lambos,” he remarked.

He also referenced the millions of dollars given in bitcoin to help Ukraine when Russian President Vladimir Putin invaded and likened it to Bored Apes.

On March 14, Buterin told TIME that the recent events have served as a reminder to many in the crypto community that the objective of crypto isn’t to play games with million-dollar photographs of monkeys but to make a difference in the real world.

“More risk-taking and less neutral” in 2022, Buterin told TIME. “I’d rather Ethereum annoy people than become meaningless.”

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