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Cake day: June 9th, 2023

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  • BigFig@lemmy.worldtoFunny@sh.itjust.worksRemember NFTs
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    13 days ago

    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.