7/2/2021
How to Donate with NFTs | Nikolas Velikopoljski | Community Leadership
a How to Donate with NFTs by Nikolas Velikopoljski | Jun 29, 2021 | Nikolas Velikopoljski
An NFT is a blockchain containing music or particular art that mimics the technology used in Ethereum or Bitcoin. It holds data in a token that traders use to transact. In some instances, the royalty goes to other beneficiaries, especially, charitable institutions as donations. NFT s have become famous through trading on opensea, cryptograph, and Nifty Gateway, among other similar platforms.
Why Donors Choose NFT when Donating The platform features a smooth process that saves donors from paying hefty taxes. Those who donate using cryptocurrencies or stocks end up paying taxes. The charges vary from one country to another, while others may not charge. The US and UK are examples of countries that deduct tax on donations. Donors who give their properties as donations enjoy reduced tax deductions, and they are not under any obligation to pay capital gains. The deal is even better if the charity
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