Crypto tax software, Koinly is embracing the popularity of Non-Fungible Tokens (NFTs) after their incredible rise to prominence within the crypto space in 2021.
The Financial Times and Chainalysis estimate that as of 2022, over 300,000 people now own an NFT. Many are in the dark about their tax obligations with such a large influx of new participants into the crypto and NFT spaces.
Koinly already has one of the most comprehensive platforms available to crypto investors to help with their NFT taxes and recently announced additional NFT support on their platform.
From adding Solana NFTs through to supporting ERC-1155 tokens and NFTs, Koinly has been busy adding functionality over the past few months.
Danny Talwar, the Australian Head of Tax at crypto tax platform, Koinly, said of the new integrations, “Koinly users will now be able to find more of their NFTs automatically, without having to add them or spend hours scouring through their wallets manually or on the Koinly platform.”
“One of the biggest challenges for those invested in the crypto space is understanding their tax obligations for NFTs. Many crypto investors might not even realise the taxable events associated with buying and selling NFTs. Koinly’s new NFT integrations help take the hassle out of doing crypto taxes,” he said.