Did anyone actually buy NFTs or was it just a bunch of people saying "this is worth X"?
https://help.coinbase.com/en/coinbase/managing-my-account/up...
Edit: besides that, the point of 'laundering' money is basically to get it into a form where it is officially yours, in the light, with taxes paid. The NFT is a conceivably 'legitimate' transfer of value. I made a thing and sold it for money, and declared and paid tax on the capital gain - boom, legitimate.
Both the primary and secondary market were very active with distinct identities. The primary market (buying collections directly from a new issuer) is still okay right now. The issuers are still making a lot of money.
The secondary market’s “floor price” concept is manipulated by the crowd, as with all collections outside of the NFT space as most individual pieces never got a bid to begin with. You hear one piece sold and you try to sell yours at the same price, so does everyone else.