Money laundering
this post was submitted on 21 Nov 2024
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The fact that it was bought by a crypto "entrepreneur" pretty much confirms it.
Yo I was about to comment this.
Like literally.
How do you transfer a huge amount of money.
Just get the receipient to create "art"
Instruct receipient to sell "art" for the amount of money
Voila, legal money laundering!
Yeah, it's the first thing I thought. Everybody else sees it too, right? This is well past dadaism.
...but wasn't this the case all along in the art market, except for institutional buyers?
Was commonplace in vanilla wow, you would see common items in the Auction House selling for silly prices - those were the players buying gold. Washing it via the auction house making it seem more legitimate.
I don't understand how buying art with 6.2 m in cash is not going to be suspicious though?
Because you “can’t put a price on art”. Assuming there’s a sales tax or something for the sale, it’s pretty much a legit sale.
For real. If I really wanted the "art" I wouldn't have to spend more than $15. $5 for a roll of duct tape, $10 for a banana.
I see what you did there
Traditional art was just NFTs all along.
🌍🧑🚀🔫🧑🚀
You mean it's all money laundering?
Yep!
Dude I put that on a tee for you.
Wait, it's all a meme?
Apparently not.
Ah-ha! Now you have missed the meme reply!
Check and mate. 😏
I too have a nearly perfect replica of this piece. I'm selling each piece, which is part of an extremely limited run of 1000 pieces in total produced this week on demand, signed and sealed in a Tupperware container for freshness, for $2,990 each, worldwide shipping is just another $299.
I'd be willing to sell it for $299 with $29 shipping, what a steal!
I don't get the apeel.
I might be splitting hairs, but it’s appeal.
It's a pun. A peel, like the skin on a banana.
As was mine, albeit a poor one.
Splitting as in banana split.
Well it seems the puns come in bunches.
You're all bananas
Is the banana for scale?
It's really just one of a limited number of licenses which allows the owner of the license to showcase the work and legally regard it as an official work from the artist who first came up with the idea. Anyone can tape a banana to a wall, but only a few can do so and say that it's an 'original'.
I don't know if I can trust the license. Any way to make it burn a ton of electricity to function?
We'll do I have a bridge to sell you!
- who gives a shit if it's original or derivative
- Tape a different fruit and it's now a new original
Do this as an institution you'll get nuked in court.
Do this as an individual nobody will pay to see it.
The more you complain the more it's worth.
People pay money to see it because it's controversial.
That's why it's art.
That's why I consider AI art actually art.
I agree, it's very absurd, and that's part of the point. It's also obvious too that someone gives a shit since they're willing to shell out millions of dollars for it. And as far as taping another piece of fruit to the wall, it unlikely to do well because with modern and conceptual art, it's all about who came up with the idea first.
You cannot stop idiots from being stupid.
Actually we are the idiots, because we just let them launder money
World gone mad.
The rich need more money laundering vehicles.