Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.
Isn’t most art for money laundering. You move money and purchase a piece or “art” for 4 million. Art isn’t worth it. But because it’s been bought it now has a value. If you sell it. Now you’ve created money from nothing. Fucked up
Certainly not. Millions of people create art every day for various reasons and various success. Heck, artists are generally known to be on the poorer end of society exactly because they often care for the art even if it doesn’t sell well. That is the case even for some of the now most famous artists in history. Quite a few of them died dirt poor while their pieces now sell for millions.
Is some art in certain circles used for money laundering? Most likely, but that’s definitely not “most” but at best mabye a few thousand pieces which are dwarfed by the billions of art pieces around today.