1320
Remember NFTs
(lemmy.ml)
Big Philomena Cunk energy in that comment.
No what's nft?
Blockchain enforced "ownership" pertaining usually to shitty artwork. Was a real fad back in 2021 but thankfully has fizzled out.
An image in a database tied to an ethereum address.
There's is a 0% chance these rich youtubers actually paid money for it.
What an indictment of our society that this fuck ass ever had that much money and now has more
His net worth is over 2 billion now. It's revolting.
Where are you seeing such a high figure? This article from 2025 says $150 million. I know he has Celsius and wrestling but 2 billion seems like BS
I also saw $150 million, which is more than he deserves but it's mostly because of ownership. Wealth snowballs so even if you make terrible life decisions after the initial investments, you usually come out with even more money.
Nah, it’s genius. A fantastic way to laundry money. It’s like buying paintings but you don’t even need to pay someone to appraise it or a good painter with some sort of good technique.
Yeah, but do paintings typically lose almost all of their value? I thought the idea was that the value should either stay the same or go up.
Either way, in this case, it couldn’t have happened to a nicer guy.
The point here is say you are in business with X party but it's illegal. X party can buy an nft worth nothing or generate one. You buy the NFT for the amount of your bill with X party. You've now technically not paid them for whatever illegal thing, instead you bought an nft from them. You could also break this down into multiple NFTs, buying 100 $100 NFTs from various "owners" that don't link back to X party through shell companies, and you've now paid them $10,000 "for pictures of chimps".
NFTs only exist for money laundering and illicit transfers. Once they've been transferred their value no longer matters, the business has been done.
NFTs only exist for money laundering and illicit transfers
And at least to some degree scamming people even if that's not the main focus. I know a few people that got full on scammed by it
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For Logan Paul, yes, he wanted it to go up.
But if this painting was laundering at work, the important part is that the seller can point to this transaction as "real". The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.
The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ and sell them for 200,000$, so the government would see 100,000$ of profit, but the next guy with the painting, he'd have to sell it for 300,000, claiming 100,000$ in profit, and the next guy, 400,000$, you get the idea.
NFTs can lose value in a way real art isnt allowed to because anyone can claim that's the price, and after the sale, they can be discarded as trash, essentially. New ones can be made in bulk for no effort, and its alright to sell 1000 NFTs at 100$ each, because you can just keep making them and "selling" them and no one has to care about their value in the same way because they're mass producible without that crashing the market.
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How the hell is it even worth $155?
He's really good at scamming people
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Money laundering?
Certainly my guess. No way he was actually dumb enough to pay over £600,000 just for an image someone could "steal" 1:1 just by copying and pasting.
It was almost certainly a way to move money somewhere while retaining plausible deniability, just like with all the other ~~scams~~ projects he's been part of over the years
No way he was actually dumb enough
Let me stop you right there...
... Have you seen this guy talk? He's pretty fuckin dumb.
I think it's the exact opposite - no money actually changed hands. They just sell worthless crap to each other to make it look valuable to suckers.
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no one else going to point out that Logan Paul is somehow not the worst person in that picture
For anyone wondering, she's a conservative influencer who worked with BlazeTV, Toilet Paper USA, contributed opinion pieces to RT and, unsurprisingly, has ties to the Russian government.
More specifically, she and her husband founded tenet media, who ACTUALLY FOR REALS laundered Russian money to shitheads like Tim pool and Dave rubin.
I kinda wish NFTs were still somewhat popular, they were such an effective indicator for the dumbest people alive.
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"Today it is worth $155."
LMAO. No.
Yea ... I agree, it really REALLY isn't worth $155.
$155 looks a little high to be honest.
The very idea of NFTs were wild. You don't own a physical image, you own something kind of like a copyright to an image but you don't in fact own the actual copyright. But it's gonna cost you alot of money and somehow make you even more money someday.
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Isn't it worth exactly what the highest bidder will pay? Where would the $155 number come from? Seems like an NFT famously owned by Logan Paul would sell for more than $155 anyway. Not saying he'd make a profit here...
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Odd, I always thought they were a means to launder your money.
I used to think Bitcoin was a ponzi scheme. I still do, dut I used to, too
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And yet this degenerate asshole is worth ~$150M Laying out bare, being 'smart' has no bearing on wealth.
Get fucked.
We had this ruining the art world right before AI started taking its shot.
NFTs died miserably.
Now it's AI's turn.
Some artists I know made pretty good money on NFTs for a while.
i fucking loved NFT startups in 2021. it was the definition of easy money. I had like 20 clients like that in 2021 alone and it was the shit. the funniest bit is that literally none of these companies or projects were around by the time 2023 started - all wiped out and most of these entrepreneur bros just moved on to do disposable AI startups instead with equally nothingburger results. what's baffling is that these motherfuckers still manage to raise investments for some bullshit pie in the sky but actual techies with ideas struggle to get a quarter worth of financing even though their ideas actually have legs
They have the resonating rhetoric, charisma, personal connections, and delusional enthusiasm necessary to wow investors. Wooing investors is a skill unrelated to technical understanding.
and its fucking annoying that these folks get the best opportunities - in a better world they would've been shoved away in the sales department doing the good deed but nah ain't happening
Can confirm, I took one look at NFTs back in 2021 and immediately said "that's fucking stupid."
Sorry, that's not worth $155.
I somehow....didn't fall for these?
Who with a clear mind and IQ above 0 would fall for that? Seriously!?
In Germany, we have a great saying for such stupid people: “As dumb as a five-meter (~5.5 yard) dirt road.”
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It wasn’t stupid SOMEBODY made a shitload of money - his money.
oh throw up its lauren chen
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this post was submitted on 06 Mar 2026
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