.CatherineFlick says that the cryptocurrency industry is controlled by centralized entities
, the cryptocurrency that was airdropped to BAYC NFT holders, some opined that venture capital firms of the likes of Andreessen Horowitz benefited the most from the token launch, which underscored the centralization of crypto.
Flick has stressed that most people are left “holding the bag” in crypto, while early adopters are among the only beneficiaries. Earlier this month, Yuga Labs also acquired the CryptoPunks collection from Larva Labs. The fact that one centralized entity controls the two most popular NFT collections triggered a wave of criticism from those who are worried that Web3, the term that refers to the next iteration of the internet, isn’t even remotely as decentralized as it is supposed to be.