NFTs, Digital Art and Money-Laundering

Overview


The world of digital art is on a meteoric rise, with blockchain technology offering a revolutionary new way of selling art in the form of Non-Fungible Tokens (NFTs), and giving a new meaning to what many consider art to be. With seemingly anyone now able to become a digital artist, and anyone from celebrities to children trying their hand at selling or collecting digital art, contemporary art sales are at an all-time high.

McDermott’s Private Client lawyer, Anita Shah, writes in ThoughtLeaders4 Private Client Magazine on the the implications of NFTs from a legal perspective, and associated the risk of money-laundering heightened by the notably under-regulated market place that NFTs operate in.

The article was first published with ThoughtLeaders4 Private Client Magazine.

 

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