The numbers don't lie. Polygon crushed Ethereum in weekly NFT sales, with Polygon reaching $22.3 million. This isn’t merely an opportunity to pat themselves on the back. It’s a fundamental change, paving the path in real-time toward the future of crypto. To be honest, if you’re sleeping at the wheel...
Polygon taking the NFT sales crown from Ethereum for a week? C’mon, let’s face it, that’s a click bait-y headline to end all click bait-y headlines. 22.3 million vs. 19.2 million – a David and Goliath moment in the crypto world. But before we name Polygon king, let’s examine a...
Polygon has shaken up the NFT scene by surpassing Ethereum with a collateral-backed collection of NFTs. Their Courtyard collection, with physical cards backing the NFTs, has brought in enormous sales volume, eclipsing nearly every other NFT project. This story underscores the growing significance of Real-World Asset (RWA) NFTs to the...
What the Waylon Wilcox case demonstrates is about more than one man’s error. This former resident of Pennsylvania was convicted of avoiding millions in taxes on his CryptoPunks transactions. As far as wake-up calls go, this one is loud and clear across the entire NFT ecosystem. It’s natural to want...
Waylon Wilcox, the dude who flipped CryptoPunks and made millions doing it, just pleaded guilty to evading more than $3.3 million in taxes. He hid over $13 million in income. His girlfriend was crowdfunding her daughter’s beauty pageant on Facebook. Let that sink in. This isn't just about one guy...
The NFT space has had its fair share of ups and downs. This most certainly has opened the doors to many creators and many top-tier artists. Alongside this nascent asset class are a myriad of tax implications that many are still trying to get their heads around. BlockTraderHub.com — Your...
Okay, let's talk about Waylon Wilcox. $13 million in CryptoPunk sales. Millions in evaded taxes. Potential jail time. The news reports are shouting “NFT bubble burst!” and “Crypto is a scam! But hold on a second. Before you write off the entire NFT space because of one guy's alleged (and...
A Pennsylvania man is on his way to prison after pleading guilty to hiding over $13 million in income. He accumulated this fortune by flipping CryptoPunks non-fungible tokens (NFTs). For example, Waylon Wilcox, who sold 97 CryptoPunks in 2021 and 2022 and failed to report that income to the IRS....
Pixels has jumped to the front of Axie Infinity in the hierarchy on the Ronin blockchain. This transition is an important turning point for the blockchain gaming space. Pixels has still been on an impressive upward trajectory, particularly following its new foray into NFT trading. Yet questions about the initiative’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,...
