April 23 (Cointime) - Richard Chen, the general partner of crypto-focused venture capital firm 1confirmation, had criticized NFT marketplace Blur, calling it a parasite of the NFT ecosystem.
Chen drew comparisons between Blur and collapsed cryptocurrency exchanges FTX and Terra Labs. He further stated:
"The investors who continue to cheerlead Blur will burn their reputation just like those who were on the FTX or Terra cabal."
It's increasingly clear now Blur is a parasite for the NFT ecosystem.
— Richard Chen (@richardchen39) April 22, 2023
The investors who continue to cheerlead Blur will burn their reputation just like those who were on the FTX or Terra cabal. https://t.co/lv2yXDWz6p
Chen's tweet has sparked a debate among investors and enthusiasts in the NFT space. Crypto influencer foobar @0xfoobar defended the platform's role in the market, he stated "Comparing a farming program to explicit custodial theft is way off".
"Don't think it is fair to compare them: FTX was pure fraud and terra was butload stupid - Blur actually makes financial sense and most (quant) traders would agree with the market dynamics" said Twitter user Kris @HashCurveKris.
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