Yuga Labs is getting roasted for its latest Bitcoin-based NFT sale because of its rather primitive auction process. Basically, users make their bids by blindly sending Bitcoin to a Yuga address and the firm promises that they’ll send the money back should the bid fall short. One critic called the auction process a “scammer’s dream,” adding that it set a “really bad precedent” for the space. The thing is, though, Bitcoin was never built for this stuff. There are no OpenSea’s or Blur’s atop the premier blockchain. It’s basically just one big over-the-counter deal. So, can you really blame Yuga?
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