Need to turn a million dollars of shady money into legit profit? Mint an NFT or coin and set a ridiculous price on it. Make the transactions on an anonymous ledger. Sell it to yourself.
I mean, come on. Art and real estate have always been vehicles for wealthy people to dump money offshore. Crypto made it so much easier to invent assets out of thin air and set whatever price you want on it.
With NFTs you don’t even need to hype up some artist as the next big thing, or trade in antiquities. Just generate a picture of Trump as a beefcake fireman or something and sell it for 1.8 million. That actually happened.
And golly, nobody is talking about it anymore. The fad just dried up just like all the money. Huh, go figure.
Time to harvest those losses.
Always wondered why someone would pay a lot money for a bunch of pixels. Status and attention-serking (aka identity) are pretty strong drivers
Speculation was the main driver for most people once the prices started going exponential
