NFT Investors Dump Cratered Tokens in Tax Write-Off Marketplaces

MARKET_WATCH NFT

Thousands of investors with nearly worthless nonfungible tokens, or NFTs, rushed to tax-loss-harvesting marketplaces during the final days of last year, dumping their once pricey digital collectibles to offset gains elsewhere in their portfolios.That created an opportunity for at least two online platforms launched to do something counterintuitive—create liquidity for assets that are, by design, illiquid, and nonfungible. While most markets capitalize on growth opportunities for tradable assets, these platforms quickly launched to help investors realize losses during a year in which NFTs saw both a boom and a bust. Business was brisk on both platforms as investors raced ... 

 

 

Source : [NFT Investors Dump Cratered Tokens in Tax Write-Off Marketplaces](news.google.com/__i/rss/rd/articles/CBMidWh0dHBzOi8vbmV3cy5ibG9vbWJlcmd0YXguY29tL2RhaWx5LXRheC1yZXBvcnQtc3RhdGUvbmZ0LWludmVzdG9ycy1kdW1wLWNyYXRlcmVkLXRva2Vucy1pbi10YXgtd3JpdGUtb2ZmLW1hcmtldHBsYWNlc9IBAA?oc=5) undefined - January 06, 2023

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