What’s your thoughts on NFT’s

You're buying a string of code - not rights, not ownership, not usage, etc.

But - it's really useful for money laundering.

 

How would it be useful for money laundering if the cash is digital which makes it trackable?

Money laundering entails the cleaning of physical cash. Through enterprises such as strip clubs, bars, laundromats, AND physical art.

 

Someone looking to “clean” dirty money could theoretically generate an anonymous NFT; list it for sale on the blockchain; purchase it from himself/herself from an anonymous, unregulated digital wallet with illicit funds; and then recognize the money as legitimate funds from the sale of the artwork.

 

Haven't considered that avenue.

Thank you.

 

not to mention you could make NFTS (which are essentially worthless) - give money to five friends and have them sell them to each other, price increasing each time (giving them a cut of course) - and then sell to market saying "look at these sales and increases in value, they must be good investments" and unload them to suckers.