this post was submitted on 06 Mar 2026
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The point here is say you are in business with X party but it's illegal. X party can buy an nft worth nothing or generate one. You buy the NFT for the amount of your bill with X party. You've now technically not paid them for whatever illegal thing, instead you bought an nft from them. You could also break this down into multiple NFTs, buying 100 $100 NFTs from various "owners" that don't link back to X party through shell companies, and you've now paid them $10,000 "for pictures of chimps".
NFTs only exist for money laundering and illicit transfers. Once they've been transferred their value no longer matters, the business has been done.
Thank you! Now for the first time, i finally see the slightest sense in NFTs. I really didn't get it from the start. I heard various explanations and they never made any sense to me. Left me confused every time until now.
Its just a mask for a deal in the background. Ok now i get it.
Yep.
My buddy once went to a farmer’s market where they weren’t allowed to sell beer, but they were allowed to give it away. So he did the oldest trick in the book: scooped up a bunch of rocks in a box, put up a sign that said “Rocks $5,” and “Free beer with purchase of rock.”
NFTs are just the rock.
And at least to some degree scamming people even if that's not the main focus. I know a few people that got full on scammed by it
Cash only exists for money laundering and illicit transfers and scamming
Also tax evasion