NFT Market Update - 19th October, 2022

The IRS has given new tax guidelines for NFTs investors. All “digital assets,” including stablecoins, non-fungible tokens, and cryptocurrencies are set to be taxed under the same rules.

Yuga Labs Co-founder joined the gm podcast sharing “walled garden” metaverses aren’t innovative—and that “Otherside” will be different. In short, the team is betting big on video games with NFT assets—but don’t want to create a closed system.

A house in South Carolina sold as a real world NFT for $175,000 USDC. In practice, the LLC takes ownership, they tokenize the property, mint an NFT, and holding the NFT gives you ownership of the house.

Y00ts team admit “yeah, we fcked up. a lot,” the video said, “but we care. a lot.” Frank remains silent on when the new art will be ready but the price of t00bs appreciated after the release.