As more artists and musicians turn their attention to NFTs, so, likely, do money launderers

Source | Tech Crunch

Outlets that follow the crypto industry have been observing a trend, which is that according to Google search data, the rise in interest in non-fungible tokens, or NFTs, now almost matches the level of interest in 2017 in initial coin offerings, or ICOs.

Of course, ICOs largely disappeared from the scene after the SEC started poking around and determining, in some cases, that they were being used to launder money. Now experts in blockchain transactions see the potential for abuse again with NFTs, despite the traceable nature of the tokens — and perhaps even because of it.

As most readers may know at this point (because they’re increasingly hard to avoid), an NFT is a kind of digital collectible that can come in almost any form — a PDF, a tweet… even a digitized New York Times column.

Tech Crunch | NFT

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Acid House | Collectible NFTs

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