Tax consequences of nonfungible tokens (NFTs)

After the artist has sold or otherwise transferred the NFT, it could continue to produce taxable income for the artist and generate taxable income for its new owner. For example, subject to the intellectual property license terms of that particular NFT, the owner can collect payments from viewers of the NFT; “smart contracts” embedded in the blockchain technology underlying this item can automatically channel to the creator a specified share of those fees.

Source: Tax consequences of nonfungible tokens (NFTs)

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