The cryptocurrency world just experienced yet another scandal when one of the Bitcoin core developers, Luke Dashjr, called out an unauthorized ordinal NFT with his name. Dashjr was not involved with the creation and sale of the NFT and does not consent to the use of his code or name for the purpose. The auction was hosted on Scarce.City where the highest bidder won the NFT for 0.41 BTC or $9600. Dashjr said someone with Scarce.City reached out to him to “donate” 90% of the NFT’s value, but he rejected the offer. Soon after the outcry from Dashjr, the buyers were promised a refund of the NFT’s amount by Scarce.City.
The story has received an immense backlash from the cryptocurrency community. Many are pointing out how this could have been avoided in the first place and are demanding greater scrutiny of NFTs and their auctions. There has been a call for equal regulation of NFTs, as well as increased security and transparency so as to prevent it from happening in the future. While the incident itself is ridiculous, it raises important points of discussion.
The debacle with Dashjr and Scarce.City is a reminder to everyone to be aware and careful when dealing with cryptocurrency. We must remember to always do our due diligence and research before investing in any digital asset. It is also important to be mindful of potential scams, as this story has shown how lucrative NFTs can be for some people. In the end, it is important to remember that cryptocurrency is a risky business and one should always be vigilant when investing.
The Dashjr and Scarce.City controversy has been a lesson for the cryptocurrency world but also a chance for the industry to discuss important points about the regulations and security of trading NFTs. Hopefully, the conversation will result in better regulations and transparency in the future.