Dec 29, 7:16 pm
Decrypt
Some ‘Worthless’ NFTs Still Have Value—As Tax Writeoffs
According to DappRadar Head of Research Pedro Herrera, 90-95% of NFT collections will never regain their pre-bear market valuations. To address this issue, startup Unsellable buys illiquid NFTs for a penny each, allowing owners to take tax write-offs. The company claims to have helped customers declare $4.2 million worth of realized losses and aims to create the world’s largest collection of NFTs.