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NFTs
Non-Fungible Tokens (NFTs) are unique digital assets verified using blockchain technology, primarily on platforms like Ethereum. Unlike cryptocurrencies, NFTs are indivisible and cannot be exchanged on a one-to-one basis, ensuring each NFT is distinct and irreplaceable, much like a physical collectible. They have gained prominence in digital art, music, gaming, and other online communities for enabling proof of ownership and authenticity of digital creations. NFTs can represent anything from artwork and music to videos and tweets.
Do You Owe Taxes on Your NFT?
Here are the NFT-related rules of thumb to consider when filing your 2022 taxes.
NFT-Linked Sandals Worn by Steve Jobs Sell for $218,000
The pair of iconic brown Birkenstocks were said to have been worn "during many pivotal moments in Apple’s history."
Why NFT Tax-Loss Harvesting Remains a Challenge for Investors
What does it mean for your tax bill if you lost money trading illiquid non-fungible tokens?
Yuga Labs Acquires Beeple's WENEW and its Flagship NFT Collection, 10KTF
The company behind Bored Ape Yacht Club has hinted at an integration between 10KTF and its gamified metaverse platform Otherside.
Nike Sprints Into Web3 With New .SWOOSH Platform
The footwear giant’s latest Web3 move will allow community members to create and trade their own digital collectibles.
The NFT Creator's Guide to Year-End Tax Planning
A step-by-step guide to help NFT artists navigate taxes and find ways to reduce their tax bill.
FTX Blowup Puts Trove of Prized Bored Apes at Risk of Liquidation
Yuga Labs, the NFT collective behind the majority of tokens held in the crypto empire’s wallet, has previously raised capital from FTX Ventures, although Alameda Research is in control of the wallet.
FTX and Alameda Contagion Fears Tank NFT Markets
Rumors of Alameda liquidating its Solana holdings are sending SOL’s price into free fall; both Solana and Ethereum-based NFT markets are getting hit hard by the news.
