Recently, IS-NEWS #01, an NFT praising the Islamic State for an attack that left 21 people dead in Afghanistan, was posted in NFT marketplaces. This has sparked new worries that terrorist groups may be looking to use financial innovations like NFTs to facilitate their financing.
Everyone wants to get into NFTs as the NFT market is starting to become lucrative. Sadly, this also applies to terrorists. Experts previously said that the irreversible nature of the blockchain on which NFTs are stored and traded gives terrorists the opportunity to produce unalterable content, spread their propaganda, and finance their heinous deeds.
Jihadoscope Discovers Islamic State NFT
Jihadoscope made the initial finding of the aforementioned NFT and posted a social media announcement about it late last month.
The maker of this NFT, who looks to be a supporter of the Islamic State, put it on display with two other NFTs. The second NFT displayed a person wearing a lab coat and gas mask, surrounded by beakers and assault guns. An NFT that was against smoking cigarettes came in third.
Actions Made to Remove the Hazardous NFT
The IS-NEWS #01 NFT and two more NFTs from the developer have been removed from Rarible and other NFT marketplaces. However, Mario Cosby, a former government intelligence specialist, told the Wall Street Journal that “nobody can really do anything to truly take this NFT down.” Anyone having the address of the NFT can still access it and view it. This is because the blockchain is immutable.
Selling NFTs to Raise Money
Numerous political organisations have used cryptocurrencies and NFTs to help raise money for various causes. Al-Qaeda, ISIS, and Hamas were reportedly using cryptocurrency wallets for terrorism-related activities in February of this year, according to reports. NFTs can also be used to raise money for charitable causes, as was the case when money was raised through NFTs and sent to Ukraine in the wake of the Russian invasion. For more NFT updates, follow our NFT calendar.