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That said, in spite of having a noble and plainly-stated reason for existing, NFTs have not been impervious to the same greed-driven and value-destructive tactics which bloated the ICO market with scams. Just to recap, the ICO was a way to raise a lot of money from the public by selling some kind of blockchain-based token a secondary cryptocurrency that runs on a distributed ledger that also has its own native coin. Ethereum 1. The Bitlicense has been controversial and a number of crypto businesses left the state citing overly burdensome disclosure requirements and regulatory requirements.
