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.
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.
Thank you! Now for the first time, i finally see the slightest sense in NFTs. I really didn't get it from the start. I heard various explanations and they never made any sense to me. Left me confused every time until now.
Its just a mask for a deal in the background. Ok now i get it.
My buddy once went to a farmer’s market where they weren’t allowed to sell beer, but they were allowed to give it away. So he did the oldest trick in the book: scooped up a bunch of rocks in a box, put up a sign that said “Rocks $5,” and “Free beer with purchase of rock.”
But if this painting was laundering at work, the important part is that the seller can point to this transaction as "real". The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.
The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ 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.
It is also important to mention that you don't actually own any art with NFTs. You own a link pointing to the art, but the art itself is not owned by the owner of the NFT.
I don't think that's actually all that important. It's fundamental to an understanding of NFTs, but not their role in any sort of money-laundering, since you can also just make NFTs using some AI-generated art or make 5000 NFT's from one low-effort art you do own.
All money laundering needs is the non-fungible part, which is easy to do, just stamp the corner with a limited-edition numbering mark and the 500 fungible digital tokens of a single art become 500 nonfungible tokens.
You can also just never sell it, but buying it doesn't help you launder your own ill-gotten money, just other people's. The issue is creating it. It's not that big an issue, but NFTs are way more efficient.
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
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.
NFTs are actually very interesting tech with a very real use case. However, just like crypto currencies, their actual use case is so boring you'd literally consider falling asleep as someone explained it. As someone who actually learned what NFTs were long before they got big, I knew what once they hit mainstream, I should keep my money as far away from it as humanly possible.
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.
Claim it as a loss on your taxes since it is an investment. Now it is "worth" whatever taxes were paid on 635,000 dollars of income, which I would guess is in the 100K - 300k range.
That doesn't help that he actually paid $635,000 for it and now it's worthless.
It's as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that's allowed (which I'm pretty sure it isn't), doesn't really help with that.
Or... He either didn't actually pay that money... Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.
I guess it's possible... But I'd consider the fraudster who famously committed financial frauds, participating in more financial fraud, to be a much more probable scenario.
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...
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
you don't grift a shitty product because you think it's worth something, you grift it because you think someone else will.
The ones hoarding toilet paper during the pandemic didn't do so because they thought it was an intrinsically sublime product. They did it for the grift
I was thinking that both values are very close to zero, but that would mean they use a third currency as intermediate, and as I remember that's not how things work.
To be fair, there are active buy offers for that one for ~$5k. The $155 figure is a collection offer, meaning someone is ready to buy anything in that collection, no matter how shitty it is. And, at practically zero liquidity (only one of those ever sot sold after minting), the concept of value becomes meaningless, he could accept the offer and take back $5k, he could list it at something like $20k and it'd likely quickly sell, or he could bullshit one of his rich friends to buy it from him for a million... or he could print that out and jerk it off to it, the therapeutic effect of which might be worth millions for his entertainment business, who knows.
If it was easy to buy, I would pay $5 for this thing, so I could tell the three people in my life that would be amused by my owning it. That's the floor on the market, for this particular one - so it still has a long way to fall.
But I wouldn't support the football-loving corrupt FIFA and the United Divided States with their fascist president dictator, no matter how much I like soccer football
Beanie babies were a thing, a real physical thing. You could hand one to a child and they could play with it for years, or you could use it as a weapon and knock one of your siblings unconscious. But it was a thing. Nfts are a digital link to something. They are not even the thing that they link to.
I remember mocking NFTs. The stupid things only ever had one single legitimate use case - helping ensure that artists got fucking paid for their work - and was obliterated almost immediately by the second dumbest bubble ever.
Daniel Tiger is education 🤡 like Clutch Cargo always felt half assed. NFTs like cereal box prizes for playing stupid games. who never screenshot a high score?
win pinball
block ads, i gave up at windows 95 loading. office competition pool paid out on Friday for a high score screenshot.
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.
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
Cash only exists for money laundering and illicit transfers and scamming
Also tax evasion
Thank you! Now for the first time, i finally see the slightest sense in NFTs. I really didn't get it from the start. I heard various explanations and they never made any sense to me. Left me confused every time until now.
Its just a mask for a deal in the background. Ok now i get it.
Yep.
My buddy once went to a farmer’s market where they weren’t allowed to sell beer, but they were allowed to give it away. So he did the oldest trick in the book: scooped up a bunch of rocks in a box, put up a sign that said “Rocks $5,” and “Free beer with purchase of rock.”
NFTs are just the rock.
For Logan Paul, yes, he wanted it to go up.
But if this painting was laundering at work, the important part is that the seller can point to this transaction as "real". The IRS or the FBI might be looking into his sudden gains of half a million dollars, but when they do, they find that he sold Logan Paul half a million dollars of art.
The NFT part makes it incredibly easy to generate said art. Before NFTs, rich people would mark up paintings, and those had to go up in value, because they would buy them at 100,000$ 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.
Thank you for that thoughtful response. That all makes sense.
It is also important to mention that you don't actually own any art with NFTs. You own a link pointing to the art, but the art itself is not owned by the owner of the NFT.
I don't think that's actually all that important. It's fundamental to an understanding of NFTs, but not their role in any sort of money-laundering, since you can also just make NFTs using some AI-generated art or make 5000 NFT's from one low-effort art you do own.
All money laundering needs is the non-fungible part, which is easy to do, just stamp the corner with a limited-edition numbering mark and the 500 fungible digital tokens of a single art become 500 nonfungible tokens.
Real art can simply be destroyed if you want
You can also just never sell it, but buying it doesn't help you launder your own ill-gotten money, just other people's. The issue is creating it. It's not that big an issue, but NFTs are way more efficient.
Buy it, insure it, get "hacked" and then get your clean money from the insurance.
How the hell is it even worth $155?
He's really good at scamming people
I’m not sure it’s worth $155 cause then it was the bored Ape that was trending but it lost it values drastically.
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
scamsprojects he's been part of over the yearsLet 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.
I mean, this is the same guy who bought a pokemon card for 5 million... but he just turned an 11MM profit on that
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.
They still are.
Though MAGA red hats are a really close second.
I don’t live in the US. Do people really wear these hats out in public?
And if so, what the hell is everyone else’s excuse for allowing them to feel safe doing so?
Yes. Conservatives, specifically the alt-right, need ways to identify each other in public so that they can "feel included".
And the reason they feel safe is that liberals and progressives are largely non-violent.
Cowards, you mean.
NFTs are actually very interesting tech with a very real use case. However, just like crypto currencies, their actual use case is so boring you'd literally consider falling asleep as someone explained it. As someone who actually learned what NFTs were long before they got big, I knew what once they hit mainstream, I should keep my money as far away from it as humanly possible.
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.
You own a sign with a link to the image.
And there isn't even a guarantee that link will work in perpetuity.
Or that it's the only link to the image; you just own one of the links.
That NFT is worth $0
Claim it as a loss on your taxes since it is an investment. Now it is "worth" whatever taxes were paid on 635,000 dollars of income, which I would guess is in the 100K - 300k range.
That doesn't help that he actually paid $635,000 for it and now it's worthless.
It's as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that's allowed (which I'm pretty sure it isn't), doesn't really help with that.
Or... He either didn't actually pay that money... Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.
Or aliens descended from space and messed with everybody's minds so we all think that he's a real person.
C'mon, stick to reality.
I guess it's possible... But I'd consider the fraudster who famously committed financial frauds, participating in more financial fraud, to be a much more probable scenario.
Just accept the reality that dumb people make dumb "investments".
Sure, and accept that this guy has a few million dollars and can afford to pay for some "creative" accounting.
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...
No, literally nobody cares so nobody’s going to pay.
Believe me, there's a guy out there willing to pay $250
Hurr-durrrr!
(Said the guy)
And yet this degenerate asshole is worth ~$150M Laying out bare, being 'smart' has no bearing on wealth.
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
What do you think is a ponzi scheme?
BITCOIN
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."
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.”
you don't grift a shitty product because you think it's worth something, you grift it because you think someone else will.
The ones hoarding toilet paper during the pandemic didn't do so because they thought it was an intrinsically sublime product. They did it for the grift
"that's a driveway!"
Sorry, that's not worth $155.
It wasn’t stupid SOMEBODY made a shitload of money - his money.
It's like a tax on stupidity.
It's all just money laundering-plus-a-scam.
NFT? you mean money laundering?
New Fraud Template
oh throw up its lauren chen
How much is it worth in Trumpcoin?
The computer can't handle a number that small, it will just round it to 0.
Do you mean to say that Trump coins are very valuable?
I was thinking that both values are very close to zero, but that would mean they use a third currency as intermediate, and as I remember that's not how things work.
So in conclusion my comment needs some more work.
Why is it even worth $155?
It was content. He likely made more off of the clowns that made him a millionaire than it cost.
What I want to know is how it's still worth $155?
Terrible investment. That was probably like 2 months of his income.
Or it wasn't. Very possible he was simply gifted the NFT and lied about the price.
A bunch of the early 20s NFT sales were wash sales
His annual income is estimated at around $20 Million, so it was probably less.
Also you can write realized losses off of your taxes.
To be fair, there are active buy offers for that one for ~$5k. The $155 figure is a collection offer, meaning someone is ready to buy anything in that collection, no matter how shitty it is. And, at practically zero liquidity (only one of those ever sot sold after minting), the concept of value becomes meaningless, he could accept the offer and take back $5k, he could list it at something like $20k and it'd likely quickly sell, or he could bullshit one of his rich friends to buy it from him for a million... or he could print that out and jerk it off to it, the therapeutic effect of which might be worth millions for his entertainment business, who knows.
Id probably have bought it as a sticker for 0.50 or a dollar when I was 10
That scam exists because of all the deregulation. With proper regulation all the people pushing NFTs would have had to pay back all they stole.
Really?
If it was easy to buy, I would pay $5 for this thing, so I could tell the three people in my life that would be amused by my owning it. That's the floor on the market, for this particular one - so it still has a long way to fall.
I'll make you one of these for $5.
Is this the guy who got his jaw busted, and now wants to fight a football player?
Is this the same guy who filmed the dead bodies in Aokigahara forest?
Not Financially Tenable
But the Metaverse!!!!
Who owns it now? I suppose thé value change when its sold. Any wat to sée thé past grades?
Wouldn't even pay for his jaw repairs these days
Is that Lauren Chen, the Russian agent?
the Pauls so thier grift was dying "targeting children for views" so they pivoted to maga.
I'm very sure it's the same kind of shit with the retro game ratings https://youtu.be/rvLFEh7V18A
I bought for the first time a few NFTs this year. Basically that was the only way for me to buy FIFA WC26 tickets in the FIFA blockchain.
Humble brag.
But I wouldn't support the
football-lovingcorrupt FIFA and theUnitedDivided States with their fascistpresidentdictator, no matter how much I likesoccerfootballBig Philomena Cunk energy in that comment.
Trends often look obvious in hindsight. What’s interesting is how every cycle teaches people something new about hype, risk, and timing.
But this looked obvious the moment it popped up. At no point did I ever think this was a good idea.
not f'n there
NFTs were 2021? Damn that was a while ago.
TIL: NFT's are/were the modern equipment of beanie babies
Beanie babies were a thing, a real physical thing. You could hand one to a child and they could play with it for years, or you could use it as a weapon and knock one of your siblings unconscious. But it was a thing. Nfts are a digital link to something. They are not even the thing that they link to.
I remember mocking NFTs. The stupid things only ever had one single legitimate use case - helping ensure that artists got fucking paid for their work - and was obliterated almost immediately by the second dumbest bubble ever.
No what's nft?
An image in a database tied to an ethereum address.
There's is a 0% chance these rich youtubers actually paid money for it.
Blockchain enforced "ownership" pertaining usually to shitty artwork. Was a real fad back in 2021 but thankfully has fizzled out.
Then he made it all back on a Pokemon card, right?
Like a lot of the art world, I'm pretty sure these were mainly used for money laundering.
A fool and their money are soon parted.
Daniel Tiger is education 🤡 like Clutch Cargo always felt half assed. NFTs like cereal box prizes for playing stupid games. who never screenshot a high score?
win pinball block ads, i gave up at windows 95 loading. office competition pool paid out on Friday for a high score screenshot.
what?
PBS and weed. feel funny