Tag: nft

Pacific Spirit: Is This Vinyl-NFT Drop the Future of Music Ownership?

Pacific Spirit: Is This Vinyl-NFT Drop the Future of Music Ownership?

Let's be blunt. As we know, for too long the music industry has been a rigged game. Artists put their blood sweat and tears into their art. Sadly, that’s only a drop in the bucket that goes back to them—the majority of the profit goes straight to labels and streaming...

Caitlin Clark NFT Shatters Records: Why It's Worth More Than NFL Stars

Caitlin Clark NFT Shatters Records: Why It's Worth More Than NFL Stars

The world of digital collectibles is constantly evolving, and recent events have highlighted the growing value of women's sports within this space. Even just a week ago, a Caitlin Clark Prizm Gold Vinyl 1/1 NFT sold for a jaw-dropping $51,248 on the Panini Blockchain. This Creating the Future Together sale...

Caitlin Clark NFT Mania: Is This a Bubble About to Burst?

Caitlin Clark NFT Mania: Is This a Bubble About to Burst?

Alright, let’s dive into this Caitlin Clark NFT nonsense. In fact, one of her digital trading cards recently sold for more than $51,000! That’s worth a lot more than a top NFL prospect’s NFT. Sounds crazy, right? Their excitement is truly contagious! The hype machine behind her Rookie of the...

Caitlin Clark's $51K NFT: Proof Women's Sports Are Undervalued?

Caitlin Clark's $51K NFT: Proof Women's Sports Are Undervalued?

Okay, let's talk about Caitlin Clark. Rookie of the Year. Absolute phenom. And of course, her Prizm gold vinyl NFT just auctioned for more than $51,000. That's HUGE. A record for any WNBA NFT. And would you believe it – it increased in value beyond what an NFT of Jayden...

NFT Tax Scandal: Is the IRS Stifling Crypto Innovation?

NFT Tax Scandal: Is the IRS Stifling Crypto Innovation?

Waylon Wilcox, a 45-year-old from Pennsylvania, recently pled guilty to not reporting $13 million of NFT earnings on his tax returns. Okay, tax evasion is wrong. Before you grab your pitchforks, consider this: is the IRS's heavy-handed approach to crypto taxes actually killing the goose that lays the golden eggs?Let’s...

NFT Tax Scandal: $13M Fraud Exposes Crypto Compliance Gaps

NFT Tax Scandal: $13M Fraud Exposes Crypto Compliance Gaps

The NFT market, which had reached an all-time peak earlier this year with boom-time fervor and valuations, has come crashing down in recent months. As the market cools, a crucial lesson emerges: tax compliance is not optional, even in the decentralized digital realm. Waylon Wilcox’s case serves as an important...

NFT Trader Faces Jail Time After $13 Million Tax Evasion

NFT Trader Faces Jail Time After $13 Million Tax Evasion

The practice recently motivated a 45-year-old NFT trader to plead guilty to tax evasion. He neglected to report over $13 million in income he made on trading non-fungible tokens (NFTs). This case signals the Internal Revenue Service’s (IRS) increased scrutiny toward trading in digital assets. It illustrates their deep desire...

OpenSea's SEA Token Airdrop: Your Guide to Max XP & Rewards!

OpenSea's SEA Token Airdrop: Your Guide to Max XP & Rewards!

OpenSea, the largest NFT marketplace in the world, recently launched an XP (Experience Points) system as part of its OpenSea 2.0 overhaul. This new system incentivizes users to become active participants in this new marketplace. If you wanna be the coolest and get the most free $SEA tokens via a...

NFT Tax Case Shows Individual Responsibility Needed, Not More Regulation

NFT Tax Case Shows Individual Responsibility Needed, Not More Regulation

Waylon Wilcoxface, 45 of Pennsylvania, is in trouble. He claimed to have avoided more than $3.2 million in taxes by not reporting his CryptoPunks NFT sales. What’s more, he raked in an eye-popping $12.3 million selling digital avatars. Instead, he indicated zero income from virtual assets across the board. Zero!...

NFT Tax Nightmare: $13M CryptoPunk Flipper Pleads Guilty

NFT Tax Nightmare: $13M CryptoPunk Flipper Pleads Guilty

The NFT space, or Non-Fungible Tokens, has taken the world by storm in recent years, offering exciting new opportunities for investors and creators. While this digital gold rush may be tempting, it comes with a nuanced myriad of tax consequences. This is something that most people are only beginning to...