While NFTs have created a new outlet for many artists, the technology has also been a boon to digital content thieves. Pirates can mint knockoff NFTs with nothing more than a digital file and some cryptocurrency, then sell those knockoffs to unsuspecting collectors.
While NFTs have created a new outlet for many artists, the technology has also been a boon to digital content thieves. Pirates can mint knockoff NFTs with nothing more than a digital file and some cryptocurrency, then sell those knockoffs to unsuspecting collectors.
The Department of the Treasury published a study on the facilitation of money laundering and terrorist financing through the art trade. Among other considerations, the report discussed the risks of financial crimes in connection with NFTs.