Yuga Labs Bitcoin NFTs Blasted by Ordinals Creator

The historic generative art collection inscribed onto Bitcoin gets lambasted by the founding Ordinals developer.

Bored Ape in blue jeans and gold sweater is standing in front of TwelveFold NFT cube as golden Bitcoins are floating around.
  • Yuga Labs launched its first-ever Bitcoin NFT collection on March 5th on Ordinals.
  • Yuga Labs takes custody of all the biddersโ€™ BTC, promising to send it back.
  • TwelveFold NFT auction was deemed โ€˜unethical, ‘ setting โ€˜a bad presence.โ€™

The Web3 behemoth Yuga Labs is getting dragged through the mud on Crypto Twitter this Monday afternoon. Despite the excitement around Yugaโ€™s inaugural NFT collection on Bitcoinโ€™s blockchain and a more-than-ever artistic approach to NFTs, the collection received immense backlash not just from regular crypto enthusiasts but also from the main developer of Ordinals, which are powering Bitcoinโ€™s NFTs.

Ordinal Founder Goes Ballistic on Yuga

While some users are experiencing technical glitches on the minting page and donโ€™t see their transactions registered, thatโ€™s still not whatโ€™s all the fuss about. Casey Rodarmor, the original programmer of the currently trending Ordinals NFT protocol for Bitcoin, went bananas on the Bored Apes creators after discovering that Yuga Labs takes custody of all Bitcoin (BTC) involved in the bidding process, even if itโ€™s not the highest bid.

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In response to the situation, Casey Rodarmor lashed out at Yuga Labs, remarking: โ€œIf I, personally, Casey Rodarmor, ever see you, Yuga labs, the entity, fuck around with degenerate bullshit like this again, I will wash my hands of you forever and encourage others, including those close to me to do the same.โ€

The Ultimate Scammerโ€™s Dream?

The extremely personal and aggressive message ends with a fiery note to the BAYC creators: โ€œGet fucked you highly regarded morons, Casey Rodarmor.โ€ Further, Bitcoin maximalists on Twitter seconded that opinion, with most crypto aficionados calling it a โ€œcash grab.โ€ In contrast, crypto enthusiast Ordinally argues that โ€œcredible players need to set a better example.โ€

Ironically, the 300-generative abstract art NFT collection inscribed onto Bitcoin is not doing as nearly as well as the average collection from Yuga Labs. Currently, the top bid is 2 Bitcoin (BTC), which equals $44,819 and is just a drop in the ocean if compared to multi-million dollar deals BAYC or MAYC NFT collections usually scoop up.

On the other hand, the โ€˜stone ageโ€™ method of bidding doesnโ€™t mean that users would lose their funds if the bid is deemed unsuccessful. Yuga Labs promised to return the money manually after the auction was done. Still, the possible damage to the crypto community goes beyond that, as fraudsters using the same auctioning technique could carry out unprecedented rug pulls and phishing attacks.

On The Flipside:

  • The term โ€˜degenโ€™ stems from โ€˜degenerateโ€™ but doesnโ€™t necessarily have a negative connotation in some crypto communities, which coined crypto slang and still call NFTs โ€˜jpegs.โ€™
  • This results in a clash of perspectives between Bitcoin Maximalists and โ€˜degens,โ€™ known to pump bags of lesser-known projects.
  • Google search engine is promoting a counterfeit phishing mint page as a sponsored ad above the actual Yuga Labs minting page.

Why You Should Care:

Yuga Labs is the leading blue-chip NFT company that has already made a name for itself with the Bored Apes, Crypto Punks, Meebits, and other top-selling projects in the crypto space.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaลกevskis is a DailyCoin Journalist, covering memecoins & latest developments. Tadas has moderate holdings in SHIB, HBAR, LTC, MATIC and a selection of low-cap meme currencies.

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