Non-Fungible Tokens (“NFTs”) have been hot, although the market seems to be cooling down as of late. According to a recent Bloomberg article though, there are still monthly NFT sales for an approximate value of 1bn USD. As trade value reduces, The Bored Ape seems to be boring its potential customers now. With the drop in the value of cryptocurrencies this may also affect the value of NFT’s.
Different countries have taken different tax positions on income derived from their supply, and on supply of NFTs (and some countries are yet to take a position).
Source Aurifer
Source used by Bloomberg: https://cryptoplay.net/learn/nft-industry-stats/
