this post was submitted on 06 Mar 2026
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[–] Jakeroxs@sh.itjust.works 1 points 12 minutes ago

I'm very sure it's the same kind of shit with the retro game ratings https://youtu.be/rvLFEh7V18A

If it was easy to buy, I would pay $5 for this thing, so I could tell the three people in my life that would be amused by my owning it. That's the floor on the market, for this particular one - so it still has a long way to fall.

[–] pinball_wizard@lemmy.zip 1 points 1 hour ago

"Today it is worth $155."

LMAO. No.

[–] Valmond@lemmy.dbzer0.com 3 points 5 hours ago

It's like a tax on stupidity.

[–] khanh@lemmy.zip 2 points 5 hours ago

Can confirm, I took one look at NFTs back in 2021 and immediately said "that's fucking stupid."

[–] F_State@midwest.social 9 points 9 hours ago (1 children)

$155 looks a little high to be honest.

The very idea of NFTs were wild. You don't own a physical image, you own something kind of like a copyright to an image but you don't in fact own the actual copyright. But it's gonna cost you alot of money and somehow make you even more money someday.

[–] LH0ezVT@sh.itjust.works 2 points 32 minutes ago

You own a sign with a link to the image.

[–] Quexotic@infosec.pub 10 points 10 hours ago

Odd, I always thought they were a means to launder your money.

[–] Tollana1234567@lemmy.today 1 points 8 hours ago

the Pauls so thier grift was dying "targeting children for views" so they pivoted to maga.

[–] lemmydividebyzero@reddthat.com 2 points 9 hours ago

But the Metaverse!!!!

[–] TastyWheat@lemmy.world 1 points 8 hours ago

Wouldn't even pay for his jaw repairs these days

[–] SpaceCowboy@lemmy.ca 3 points 10 hours ago

Is that Lauren Chen, the Russian agent?

[–] Bleys@lemmy.world 34 points 20 hours ago (1 children)

no one else going to point out that Logan Paul is somehow not the worst person in that picture

[–] GalacticSushi@lemmy.blahaj.zone 37 points 19 hours ago (1 children)

For anyone wondering, she's a conservative influencer who worked with BlazeTV, Toilet Paper USA, contributed opinion pieces to RT and, unsurprisingly, has ties to the Russian government.

[–] SkyezOpen@lemmy.world 18 points 17 hours ago

More specifically, she and her husband founded tenet media, who ACTUALLY FOR REALS laundered Russian money to shitheads like Tim pool and Dave rubin.

[–] Kellenved@sh.itjust.works 109 points 1 day ago (1 children)

What an indictment of our society that this fuck ass ever had that much money and now has more

[–] Town@lemmy.zip 24 points 22 hours ago (1 children)

His net worth is over 2 billion now. It's revolting.

[–] dditty@lemmy.dbzer0.com 31 points 21 hours ago (1 children)

Where are you seeing such a high figure? This article from 2025 says $150 million. I know he has Celsius and wrestling but 2 billion seems like BS

[–] taiyang@lemmy.world 14 points 19 hours ago

I also saw $150 million, which is more than he deserves but it's mostly because of ownership. Wealth snowballs so even if you make terrible life decisions after the initial investments, you usually come out with even more money.

[–] cholesterol@lemmy.world 17 points 18 hours ago (1 children)

Isn't it worth exactly what the highest bidder will pay? Where would the $155 number come from? Seems like an NFT famously owned by Logan Paul would sell for more than $155 anyway. Not saying he'd make a profit here...

[–] ayyy@sh.itjust.works 1 points 8 hours ago (1 children)

No, literally nobody cares so nobody’s going to pay.

[–] Magnum@infosec.pub 1 points 4 hours ago

Believe me, there's a guy out there willing to pay $250

[–] samus12345@sh.itjust.works 37 points 21 hours ago (1 children)

How the hell is it even worth $155?

[–] ICastFist@programming.dev 9 points 19 hours ago

He's really good at scamming people

[–] ColeSloth@discuss.tchncs.de 4 points 13 hours ago (2 children)

Terrible investment. That was probably like 2 months of his income.

[–] Magnum@infosec.pub 1 points 4 hours ago

His annual income is estimated at around $20 Million, so it was probably less.

Also you can write realized losses off of your taxes.

[–] UnderpantsWeevil@lemmy.world 7 points 10 hours ago

Or it wasn't. Very possible he was simply gifted the NFT and lied about the price.

A bunch of the early 20s NFT sales were wash sales

[–] NullPointerException@lemmy.ca 73 points 1 day ago (2 children)

Nah, it’s genius. A fantastic way to laundry money. It’s like buying paintings but you don’t even need to pay someone to appraise it or a good painter with some sort of good technique.

[–] dohpaz42@lemmy.world 24 points 1 day ago (2 children)

Yeah, but do paintings typically lose almost all of their value? I thought the idea was that the value should either stay the same or go up.

Either way, in this case, it couldn’t have happened to a nicer guy.

[–] Brunbrun6766@lemmy.world 43 points 23 hours ago (2 children)

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.

[–] anonklay@lemmy.world 1 points 7 hours ago (1 children)

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.

[–] ArmoredThirteen@lemmy.zip 8 points 19 hours ago (2 children)

NFTs only exist for money laundering and illicit transfers

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

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[–] Khanzarate@lemmy.world 23 points 23 hours ago (4 children)

For Logan Paul, yes, he wanted it to go up.

But if this painting was laundering at work, the important part is that the seller can point to this transaction as "real". The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.

The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ and sell them for 200,000$, so the government would see 100,000$ of profit, but the next guy with the painting, he'd have to sell it for 300,000, claiming 100,000$ in profit, and the next guy, 400,000$, you get the idea.

NFTs can lose value in a way real art isnt allowed to because anyone can claim that's the price, and after the sale, they can be discarded as trash, essentially. New ones can be made in bulk for no effort, and its alright to sell 1000 NFTs at 100$ each, because you can just keep making them and "selling" them and no one has to care about their value in the same way because they're mass producible without that crashing the market.

[–] uienia@lemmy.world 1 points 9 minutes ago

It is also important to mention that you don't actually own any art with NFTs. You own a link pointing to the art, but the art itself is not owned by the owner of the NFT.

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[–] Assassassin@lemmy.dbzer0.com 22 points 21 hours ago (1 children)

I kinda wish NFTs were still somewhat popular, they were such an effective indicator for the dumbest people alive.

[–] CosmicTurtle0@lemmy.dbzer0.com 9 points 19 hours ago* (last edited 19 hours ago) (1 children)

They still are.

Though MAGA red hats are a really close second.

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[–] Anarki_@lemmy.blahaj.zone 41 points 1 day ago (1 children)
[–] Th4tGuyII@fedia.io 18 points 1 day ago (4 children)

Certainly my guess. No way he was actually dumb enough to pay over £600,000 just for an image someone could "steal" 1:1 just by copying and pasting.

It was almost certainly a way to move money somewhere while retaining plausible deniability, just like with all the other ~~scams~~ projects he's been part of over the years

[–] PhoenixDog@lemmy.world 15 points 22 hours ago

No way he was actually dumb enough

Let me stop you right there...

[–] ceenote@lemmy.world 13 points 23 hours ago

... Have you seen this guy talk? He's pretty fuckin dumb.

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[–] texture@lemmy.world 9 points 18 hours ago

oh throw up its lauren chen

[–] schnokobaer@feddit.org 19 points 23 hours ago (4 children)
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[–] tackleberry@thelemmy.club 10 points 22 hours ago (1 children)

NFT? you mean money laundering?

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[–] Damionsipher@lemmy.world 16 points 1 day ago

And yet this degenerate asshole is worth ~$150M Laying out bare, being 'smart' has no bearing on wealth.

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