Are NFTs Used in Money Laundering Schemes?

Written by talktomaruf | Published 2022/03/02
Tech Story Tags: nfts | blockchain | money-laundering | fraud | nft-tokenization | nft-security | security | blockchain-writing-contest

TLDRNon-fungible tokens (NFTs) are essentially a type of digital artwork that can be purchased and sold on blockchain technology. NFTs are non-transferable; that is, when someone acquires them, the original belongs to them and nobody else, even if others have similar copies. The most expensive NFT was created by Mike ‘Beeple” Winkelmann titled ‘Everydays: The First 5000 Days’ which was sold at Christie’s, a major auction house, at a whopping sum of $69.3 million!via the TL;DR App

no story

Written by talktomaruf | Technical writer and enthusiast for everything blockchain
Published by HackerNoon on 2022/03/02