Recently, NFT marketplaces have appeared. IS-News #01, NFT praises Islamic State for attack in Afghanistan that killed 21 people. This has raised new concerns that terrorist organizations may seek to exploit financial technologies such as NFTs for financing.
The NFT space is starting to become lucrative, and everyone is looking to get into NFTs. Unfortunately, this includes terrorists. In the past, experts have stated that the immutable nature of the blockchain, where NFTs are stored and traded, allows terrorists to create incorruptible content, promote their propaganda and support their crimes.
The Islamic State NFT was discovered by Jihadoscope
The NFT in question was first discovered by Jihadoscope, which announced its discovery on social media at the end of last month.
The creator of this NFT, who appears to be a supporter of the Islamic State, showed up with two other NFTs. The second NFT showed an individual in a gas mask and lab coat, surrounded by assault rifles and beakers. Thirdly, there was an NFT that condemned cigarette smoking.
Steps taken to cancel the dangerous NFT
Rare and other NFT marketplaces have deleted IS-NEWS #01 NFT and two other NFTs from the creator. However, former federal intelligence analyst Mario Cosby told the Wall Street Journal. “There’s really nothing anyone can do to bring this NFT down.” Anyone with an NFT address can still see it. This is due to the immutable nature of blockchain.
Raising money through NFT sales
Many political groups have used cryptocurrencies and NFTs to fund various causes. In February of this year, reports claimed that al-Qaeda, ISIS and Hamas were using crypto wallets for terror-related activities. However, NFTs raise funds for good causes, such as when NFTs were used to generate funds to donate to Ukraine after the Russian invasion.
All investment/financial opinions expressed on NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any investment.