This past summer, we were super frustrated with how difficult it was to legitimately dispose of worthless NFTs in order to harvest losses on these assets for tax minimization. There's no real marketplace for worthless NFTs, but investors are sitting on thousands of dollars of tax savings if they had a simple way to harvest their NFT losses.
From this pain-point, an idea was born!
So, we started working on a smart contract that would buy any NFT for a de minimis amount of ETH, thus allowing investors to lock in their losses and reduce their 2022 tax bill.
From this pain-point, an idea was born!
So, we started working on a smart contract that would buy any NFT for a de minimis amount of ETH, thus allowing investors to lock in their losses and reduce their 2022 tax bill.
Would love to hear any feedback!