An NFT trader just found himself facing prison time after pleading guilty to evading almost $13 million in taxes. This tax evasion is based on profits realized from the trading of CryptoPunk NFTs. Waylon Wilcox, the trader incognito, purchased and sold 97 items from the CryptoPunk NFT collection. Now he’s...
Though cutting-edge and revolutionary, the world of NFTs is becoming more difficult to navigate as tax agencies around the globe pay closer attention. A recent taxpayer case involving Waylon Wilcox is a relevant and sobering reminder of the high stakes of precise crypto tax reporting. Wilcox, an NFT art dealer,...
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I think about my uncle, a really talented and diligent carpenter who was eternally scheming his way out of the 9-to-5 hustle. He saw crypto as his ticket out. Then, he discovered leverage. He gambled his entire life’s savings on a platform that was offering 100x leverage, seduced by the...
Animalia is making a significant leap forward. Specifically, it’s migrating to its own Layer 1 (L1) chain on the Avalanche network. Whether it’s more immersive gaming experiences, improved $ANIM tokenomics, or a seamless NFT migration roadmap, this transition has so much in store for you. BlockTraderHub.com explains what this means...
The NFT space certainly has that Wild West vibe, right? Fortunes won and vaporized in the blink of an eye, scammers lurking at every turn and more acronyms than you can shake a stick at. But beneath the hype, there's a real potential for NFTs to revolutionize how creators are...
Animalia, a web3 trading card game that integrates both physical and digital cards into gameplay, has booted up its Layer 1 (L1) gaming chain on the Avalanche network. This launch becomes a big milestone for the popular free-to-play trading card game. It will provide a dedicated, permanent foundation for the...
CryptoPunks, one of the earliest and most iconic collections of non-fungible tokens (NFTs). As with other speculative arts markets, since the NFT market peaked in the spring of 2021, its value has fallen by over 90%. Featuring 10,000 unique pixel-art characters on the Ethereum blockchain, CryptoPunks once commanded premium prices,...
The world of NFTs has been a rapidly growing space in recent years, presenting innovative new spaces for artists, collectors, and investors. This new digital gold rush holds great promise. It introduces a tangled maze of tax consequences that Americans are only now beginning to understand. BlockTraderHub.com is your resource...
Over the last few years, the landscape of NFTs (Non-Fungible Tokens) has taken off. This boom presents thrilling new opportunities for artists, collectors, and investors to take advantage of. However, this digital frontier comes with a complex web of tax implications that many are only just beginning to understand. BlockTraderHub.com...
