It's just money laundering. They just want to do fine-art money laundering with a lower cost per transaction, and higher convenience.
Crypto art is just an arbitrarily valued intangible asset, posing as art.
Ever wonder why a grey square sells for 9999999 dollars? They're not getting their rocks off on the grey square, they're just pretending to be insane so they can get away with stealing.
Just recently some person put together a bunch of People magazine covers into one jpeg and it sold for 62 million dollars. Of course it's fucking money laundering. That shit is going to sit on some silly hard drive in some silly folder
I read a story about some rich celebrity like Daniel Radcliffe or someone like that, who couldn't figure that out either. Someone was trying to buy a 1 million dollar (non-historical) painting but they just wouldn't let them. Because you have to know people who know people, be owed dark money from certain people, etc.
Posting this every time:
It's just money laundering. They just want to do fine-art money laundering with a lower cost per transaction, and higher convenience.
Crypto art is just an arbitrarily valued intangible asset, posing as art.
Ever wonder why a grey square sells for 9999999 dollars? They're not getting their rocks off on the grey square, they're just pretending to be insane so they can get away with stealing.
Just recently some person put together a bunch of People magazine covers into one jpeg and it sold for 62 million dollars. Of course it's fucking money laundering. That shit is going to sit on some silly hard drive in some silly folder
I see this posted all the time but nobody ever explains how to get in on it
there's nothing to "get in on" unless you've already stolen a bunch of money you need to launder
I mean you probably get a % of the initial sale as an artist
you get a % of every sale and resell of the tokenized art as the creator.
Yeah, I believe the artists are in on the scam, and get paid via the initial art sale which is always a small fraction of the later price.
I read a story about some rich celebrity like Daniel Radcliffe or someone like that, who couldn't figure that out either. Someone was trying to buy a 1 million dollar (non-historical) painting but they just wouldn't let them. Because you have to know people who know people, be owed dark money from certain people, etc.