- Vitalik Buterin emphasizes decentralization and rejects lobbying, while Ethereum focuses on supporting app builders and users.
- Milady NFTs gain attention, but volatility remains high as the market sees significant losses alongside potential growth.
- The crypto community urged to prioritize value creation, avoiding the “grifter’s playground” mentality, according to Ki Young Ju.
CEO of Cryptocuant Ki Young Ju has aligned with Ethereum co-founder Vitalik Buterin on prioritizing value creation over profit. Ju expressed concerns about crypto becoming a “grifter’s playground” under unchecked capitalism, urging the community to focus on building meaningful products like Bitcoin’s cypherpunk origins.
Ethereum Leadership Reshapes Priorities
Vitalik Buterin recently outlined the Ethereum Foundation’s (EF) evolving leadership structure, targeting improved technical expertise and ecosystem collaboration. Key priorities include fostering communication with app developers, users, and Layer 2 solutions. Additionally, the EF aims to uphold decentralized values such as privacy, open-source development, and censorship resistance, even at the application layer.
However, Buterin clarified the EF’s commitment to remaining neutral, rejecting aggressive lobbying or ideological pivots. Instead, the foundation focuses on supporting developers and using Ethereum’s chain for payments and treasury management. This vision aligns with Buterin’s push for decentralization, contrasting centralized approaches in some blockchain initiatives.
Milady NFTs Gain Spotlight
Meanwhile, Vitalik Buterin’s updated profile picture featuring a Milady NFT has sparked market activity. This move follows Elon Musk’s earlier endorsement of the anime-style NFT collection. Milady, now regarded as an intellectual and edgy NFT brand, competes with established collections like Pudgy Penguins and CryptoPunks.
The market reaction was immediate, but not all participants benefited. A whale lost approximately $80,900 after mismanaging a high-value Milady trade. Despite this volatility, Milady’s market capitalization sits at $167 million. If it rivals Pudgy Penguins’ $600 million valuation, each NFT could reach $60,000.
Challenges in the NFT Space
NFT markets remain highly volatile, posing risks for investors. Illiquidity and sudden price swings complicate large trades, as demonstrated by the whale’s loss. Moreover, while Milady’s growth is promising, achieving CryptoPunks’ $1.2 billion valuation requires substantial market evolution.
