Chapter
The Use of Art in Money Laundering and NFTs
45:07 - 53:19 (08:11)
The value of art collections and NFTs have been used as a way of laundering money, allowing tax-evading money to be converted into something of value, which can then be sold. This process has had a significant impact on the trend of inflated values in the art market.
Clips
A man shouted in French while being taken away by police, urging people to think about saving the earth.
45:07 - 47:49 (02:41)
Summary
A man shouted in French while being taken away by police, urging people to think about saving the earth. However, such behavior can often have the opposite effect, drawing negative attention and hurting one's cause.
ChapterThe Use of Art in Money Laundering and NFTs
EpisodeAnything Goes
PodcastDistractible
The value of art depends on the perspective of the viewer.
47:49 - 49:42 (01:53)
Summary
The value of art depends on the perspective of the viewer. For instance, the worth of a Vincent van Gogh painting sold for millions in 1987 may vary greatly from person to person.
ChapterThe Use of Art in Money Laundering and NFTs
EpisodeAnything Goes
PodcastDistractible
Art collections and NFTs are being used to launder money from illegal activities due to their high values, notoriety, and ability to be sold for legitimate money.
49:42 - 53:19 (03:36)
Summary
Art collections and NFTs are being used to launder money from illegal activities due to their high values, notoriety, and ability to be sold for legitimate money. This is why it's called "money laundering" - the process of cleaning illicit money.