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GoatmontWaters t1_j1uv9w2 wrote

Ill give you an honest answer. Yes. Why? Because art is already mostly used to launder money (real life art). And NFTs can let you do that but was easier. This is why theres still billions traded each day in NFT sales despite everyone telling you they are scams. ARe they scams? I Dont know, you got some money to launder? Rich people do it and never get in trouble. So maybe you can now do it too.


Now... Non Art NFTs have a very bright future. Utility NFTs are already massively successful in small pockets and will continue to spread. I personally have made multiple thousands of profit from Utility NFTS (not the bored apes or PFP NFTs, NFTs that are stakable and serve functions.)


Themasterofcomedy209 t1_j1uzikp wrote

This is an extremely cynical way of looking at art. The money laundering happens at the very very top between people in a connected web. The vast majority of art is just random pieces sold for like 100 bucks tops, created by artists trying to get by. It’s used to decorate a location, or to send a message.


PublicFurryAccount t1_j1ux7ae wrote

It really isn't mostly used to launder money.


Pspreviewer100 t1_j1uy380 wrote

You're right. It's also used as a front for trafficking.


PublicFurryAccount t1_j1v2nh6 wrote

The art market is basically concept art, commercial illustration, and furries. Everything else is a sideshow except in dollar terms.