3 ms·
NFTs are perfect for money laundering because 1. their value is completely arbitrary 2. The launderer can buy an artists whole collection, and legitimately se
by colinmhayes 5y ago
NFTs are perfect for money laundering because
1. their value is completely arbitrary
2. The launderer can buy an artists whole collection, and legitimately sell some for more than they were bought for since everyone can see the artists NFTs are selling for huge sums
3.NFTs can pay the minter a percentage every time they're sold.
- nyolfen 5y agobesides #3 this also describes the conventional art world
- 542458 5y agoThe conventional art world generally has more requirements in terms of reporting. Also, in the conventional art world people would be extremely suspicious if all of an artist’s works were bought up by anonymous individuals and nearly immediately turned around for significant profit - but with NFTs it’s par for the course.
- colinmhayes 5y agoExcept they’re easier to transport.
- otterley 5y agoYes, and?