The NFT Space Is About to literally blow up soon…
Karim Al Moghraby
Researcher
Copywriter
Writer
A member loyal to Islamic State in Iraq and the Levant waves an ISIL flag in Raqqa, Syria, over eight years ago. PHOTO: STRINGER/REUTERS
Early adopters of blockchain technology aren’t the nicest people out there; they didn’t use cryptocurrencies to solve world hunger or global warming. The majority of these early adopters used cryptocurrency for heinous crimes like money laundering and human trafficking.
In other words, the people who mainly profited from crypto were manipulating the currency out of necessity to pay for things illegal to be paid for through regulated financial institutions. However, as Bitcoin has become more widespread, blockchain technologies have become less nefarious.
ISIS monetizes NFTs intending to raise funds
An NFT expressing complete support for the Islamic State has been circulating online, raising concerns about a possible revival of the terrorist organization’s funding.
According to the Wall Street Journal, citing former senior US intelligence officials, this is the first known NFT created and spread by a “terrorist sympathizer.” The NFT, titled IS-NEWS #01, carries the organization’s symbol and a message praising the Islamic State for a recent attack on a Taliban position in Afghanistan.
The same person who created IS-NEWS #01 also made two others that support the Islamic State, which can be found on a marketplace such as rarible and OpenSea. Non-fungible tokens have been removed from centralized exchanges. Still, the technology behind NFTs makes it nearly impossible to remove them entirely from the internet.
When ISIS rose to power, it used the internet to spread videos of its morals before losing nearly all of its territory in 2017. The loss of this territory deprived the organization of its primary funding source. At the same time, Western authorities and social media took steps to reduce the organization’s online presence.
Analysts informed the Wall Street Journal that terrorist groups could finance their operations through NFT sales. There are also fears that terrorist groups will use this technology to avoid attempts to cut off their funding and propaganda.
“It’s as censorship-proof as you can get,” former federal intelligence analyst Mario Cosby told the Wall Street Journal. “There’s not really anything anyone can do to actually take this NFT down.”
New to trading? Try crypto trading bots or copy trading
A member loyal to Islamic State in Iraq and the Levant waves an ISIL flag in Raqqa, Syria, over eight years ago. PHOTO: STRINGER/REUTERS
Early adopters of blockchain technology aren’t the nicest people out there; they didn’t use cryptocurrencies to solve world hunger or global warming. The majority of these early adopters used cryptocurrency for heinous crimes like money laundering and human trafficking.
In other words, the people who mainly profited from crypto were manipulating the currency out of necessity to pay for things illegal to be paid for through regulated financial institutions. However, as Bitcoin has become more widespread, blockchain technologies have become less nefarious.
ISIS monetizes NFTs intending to raise funds
An NFT expressing complete support for the Islamic State has been circulating online, raising concerns about a possible revival of the terrorist organization’s funding.
According to the Wall Street Journal, citing former senior US intelligence officials, this is the first known NFT created and spread by a “terrorist sympathizer.” The NFT, titled IS-NEWS #01, carries the organization’s symbol and a message praising the Islamic State for a recent attack on a Taliban position in Afghanistan.
The same person who created IS-NEWS #01 also made two others that support the Islamic State, which can be found on a marketplace such as rarible and OpenSea. Non-fungible tokens have been removed from centralized exchanges. Still, the technology behind NFTs makes it nearly impossible to remove them entirely from the internet.
When ISIS rose to power, it used the internet to spread videos of its morals before losing nearly all of its territory in 2017. The loss of this territory deprived the organization of its primary funding source. At the same time, Western authorities and social media took steps to reduce the organization’s online presence.
Analysts informed the Wall Street Journal that terrorist groups could finance their operations through NFT sales. There are also fears that terrorist groups will use this technology to avoid attempts to cut off their funding and propaganda.
“It’s as censorship-proof as you can get,” former federal intelligence analyst Mario Cosby told the Wall Street Journal. “There’s not really anything anyone can do to actually take this NFT down.”
New to trading? Try crypto trading bots or copy trading
A member loyal to Islamic State in Iraq and the Levant waves an ISIL flag in Raqqa, Syria, over eight years ago. PHOTO: STRINGER/REUTERS
Early adopters of blockchain technology aren’t the nicest people out there; they didn’t use cryptocurrencies to solve world hunger or global warming. The majority of these early adopters used cryptocurrency for heinous crimes like money laundering and human trafficking.
In other words, the people who mainly profited from crypto were manipulating the currency out of necessity to pay for things illegal to be paid for through regulated financial institutions. However, as Bitcoin has become more widespread, blockchain technologies have become less nefarious.
ISIS monetizes NFTs intending to raise funds
An NFT expressing complete support for the Islamic State has been circulating online, raising concerns about a possible revival of the terrorist organization’s funding.
According to the Wall Street Journal, citing former senior US intelligence officials, this is the first known NFT created and spread by a “terrorist sympathizer.” The NFT, titled IS-NEWS #01, carries the organization’s symbol and a message praising the Islamic State for a recent attack on a Taliban position in Afghanistan.
The same person who created IS-NEWS #01 also made two others that support the Islamic State, which can be found on a marketplace such as rarible and OpenSea. Non-fungible tokens have been removed from centralized exchanges. Still, the technology behind NFTs makes it nearly impossible to remove them entirely from the internet.
When ISIS rose to power, it used the internet to spread videos of its morals before losing nearly all of its territory in 2017. The loss of this territory deprived the organization of its primary funding source. At the same time, Western authorities and social media took steps to reduce the organization’s online presence.
Analysts informed the Wall Street Journal that terrorist groups could finance their operations through NFT sales. There are also fears that terrorist groups will use this technology to avoid attempts to cut off their funding and propaganda.
“It’s as censorship-proof as you can get,” former federal intelligence analyst Mario Cosby told the Wall Street Journal. “There’s not really anything anyone can do to actually take this NFT down.”
New to trading? Try crypto trading bots or copy trading
