Nft

 As today’s hottest digital assets, non-fungible tokens (NFTs) have taken the arts and investment worlds by storm. But what are they, exactly, and how are they to be treated for tax purposes? This article provides an overview of need-to-know information regarding these exciting—and potentially risky—assets.

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NFTs, or non-fungible tokens, are now the hottest digital assets recorded and transferred on a blockchain. They are so hot that the Collins Dictionary named “NFT” its 2021 word of the year. Compared to a year ago, purchases of NFTs are up 11,000%, with final 2021 numbers not available yet.