I think it’s highly laughable no one has come to this conclusion so far, and moreover, that there tries to be an explanation beyond this… there is not some value here or even any joke value, it’s just money laundering. In many cases, these transfers are the front for a drug transaction or arms. It’s confusing why this angle is not being covered when it’s full-stop the entirety of all reasons behind these transactions, which are in essence, merely used to hide the actual transaction being performed.
NFT(s) are just money laundering
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Re: NFT(s) are just money laundering
#2> NFT(s) are just money laundering...
Would love to see some strong sources for this strong claim...
Re: NFT(s) are just money laundering
#3Because it isn't true. There's some money laundering, sure, just like there is in anything that involves money. But if you actually spend time in NFT communities it's not hard to find real people who are spending money either because they like the token, or because they think they can flip it for a higher price later.
Re: NFT(s) are just money laundering
#4Thanks for the Friday humor!
Re: NFT(s) are just money laundering
#5> It’s confusing why this angle is not being covered when it’s full-stop the entirety of all reasons behind these transactions
This is a bold claim that I would love to see some evidence of. The vast majority of the transactions are people trying to make a quick buck, not people involved in the trade of drugs or weapons. I don't doubt that this is taking place, but I highly doubt that it is the "entirety of all reasons behind these transactions".
Re: NFT(s) are just money laundering
#6I work in crypto and know a lot of crypto-wealthy. Crypto Punks are truly a symbol of wealth, like a high-end watch. There may be money laundering in NFTs (just like in the art market) but there legitimately are collectors and those preparing for a potential future of digital metaverses where NFTs could be worn, displayed, etc.
Check out Crypto Slam for real-time stats https://cryptoslam.io/
A lot of the volume comes from games that use NFTs for assets (like Axie Infinity and Loot). I foresee more games using NFTs.
Re: NFT(s) are just money laundering
#7You are not the first the come to this conclusion, which is wrong by the way. First because what they are now is perhaps less important than what they can become in the future. Second because there's other uses including speculation, crypto inclusion, art, fun and marketing, to mention some I know of.
Get some knowledge before making assumptions and laughing at people ;)
Re: NFT(s) are just money laundering
#8Where's your proof?
Re: NFT(s) are just money laundering
#9Because it isn't true. There's some money laundering, sure, just like there is in anything that involves money. But if you actually spend time in NFT communities it's not hard to find real people who are spending money either because they like the token, or because they think they can flip it for a higher price later.
I'd wager most are in the latter group... trying to flip for a higher price later.
Re: NFT(s) are just money laundering
#10> I think it’s highly laughable no one has come to this conclusion so far,
This kind of discussion about NFTs being money laundering is taking place in literally every single post related to NFTs on this board.