1. DECENTRALIZED: A Tribute to Bitcoin’s Ethos
2. Transfer of Control and Consequences
3. Financial and Symbolic Aspects

Rune 2, an Ethereum-based NFT project created by CyberKongz, has announced the full decentralization of its DECENTRALIZED project. The team sent Rune 2 to Satoshi Nakamoto’s wallet and stated they would withdraw from the project, causing a 25% drop in DECENTRALIZED token value.

DECENTRALIZED: A Tribute to Bitcoin’s Ethos

DECENTRALIZED, launched with the intent of representing the decentralized culture and ethos of Bitcoin, was launched on April 20, 2024, coinciding with the day of the fourth Bitcoin halving. It was created using the Runes Protocol, which was also introduced on the halving day. The project started as a Pre-Rune Ordinals collection called 'Prometheans,' created by the CyberKongz team. This collection had a supply of 21,000 units, 85% of which were airdropped to hand-selected Ordinals communities, and the remaining 15% to existing CyberKongz holders.

Transfer of Control and Consequences

The CyberKongz team transferred control of the DECENTRALIZED project to Satoshi Nakamoto, causing an immediate 25% drop in the token’s value. According to team representatives, this move was intended to symbolize the ideals of decentralization and blockchain culture rather than to seek financial gains.

Financial and Symbolic Aspects

Transferring control of the DECENTRALIZED token cost over $1 million. This step was taken to highlight the importance of decentralization and blockchain culture rather than to pursue commercial goals.

The transfer of control over the DECENTRALIZED project to Satoshi Nakamoto holds symbolic significance for blockchain culture and decentralization. While it impacted the token value in the short term, the team emphasizes that their actions align with the spirit of blockchain and Bitcoin culture.