Sunday, March 26, 2023
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IRS to Treat NFTs Like Physical Art as Concerns Rise over Taxation

Following the announcement, a section of the crypto community on Twitter has heaped praises on the IRS and Treasury Department for taking such a detailed approach instead of regulating through enforcement. The Internal Revenue Service (IRS) may be contemplating disallowing the addition of NFTs to Individual Retirement Accounts (IRAs). This follows after

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Sony Files Patent For NFTs To Allow Transfers Between Games and Consoles

The patent, originally filed last week, would allow players of Sony products such as its flagship Playstation to have an interoperable Web3 gameplay experience. Gamers would be allowed to transfer in-game assets between devices such as virtual reality (VR) headsets, tablets, computers and smartphones. The patent application also noted that

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Web3 a hot topic at SXSW despite bear market and declining interest in NFTs

Giant rabbits wearing trendy outfits situated alongside cartoon characters with rainbows flowing out of their mouths lined the streets of South by Southwest (SXSW) last year. This is because two nonfungible token (NFT) projects — Doodles and Fluf World — dominated SXSW 2022. Yet these projects were nowhere to be found

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