Let's say you are a criminal with $1M to launder. You create an NFT and sell it to you buddy for $1M. Hopefully your buddy is also a criminal mastermind* that

Let's say you are a criminal with $1M to launder. You create an NFT and sell it to you buddy for $1M. Hopefully your buddy is also a criminal mastermind* that already did some laundering, so it's not inconceivable that s/he has a legit looking $1M to spend. Now your buddy doesn't actually send you the cash, instead you deposit the $1M in ill-gotten goods you had laying around. Now you have a legitimate $1M in income to cover the illegal gains. Don't try this at home. I'm sure there are probably some gotchas in the above scheme. * Actually if you just find a legitimate rich person with low morals, they probably wouldn't mind participating for the usual launderer's fee.