[riekus]

I recently heard that a lot of those insane art transactions are accounting/laundering practices. Made a lot of sense for me when I heard that.

[timurg]

This is tens of billion dollars market[1] managed by investment firms. So it is not surprising the insane prices with PR and everything and while richer are getting richer. Now they have also digital art and NFT.

https://theartmarket.foleon.com/artbasel/2020/the-art-market...

[gumby]

Once you understand the art “Freeport” business you’ll see it’s almost entirely a money laundering system.

NFTs slotted straight into the same system.