An NFT, non-fungible token, is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.
NFTs have been in the news a lot lately as new business uses for NFTs are developed for online games, music, entertainment, start-up businesses, and much more.
In this course, Scott Paton and Tim Judge share the changes to business that NFTs are bringing.
Tim Judge is a Founder of Social Bees NFT.
By using the SBU DAO Social Bees provide Web3 companies flexibility and scalability through a fully managed community and engagement hub solution. Tim shares how NFTs can be used for start ups and other projects.
As NFTs increase in value along with other tokens, a capital gain tax issue is created, so we discuss options to mitigate the tax burden.
The term capital gain refers to the increase in the value of a capital asset when it is sold Put simply, a capital gain occurs when you sell an asset for more than what you originally paid for it.
Almost any type of asset you own is a capital asset whether that’s a type of investment (like a stock, NFT, bond, Bitcoin, or real estate) or something purchased for personal use (like furniture or a boat).
