The Australian Taxation Office (ATO) has released an outline of its priority areas warning NFT investors of possible NFT trading drawbacks. The release stipulates that as with selling property, shares, or the like, selling NFTs attracts capital gains tax. Regarding this, ATO Assistant Commissioner Tim Loh said through the release: “Crypto is a popular type… Continue reading Australian Taxation Office (ATO): Selling Tokens Attracts Capital Gains Tax
Category: Blog
Can Smart Contracts Be Changed Over Time?
Smart Contracts are pieces of software that run on blockchains. While they are immutable upon creation, there are times when modifying Smart Contracts would be recommendable. A certain level of mutability is needed to improve and fix the bugs on a Smart Contract. To do this, developers must use a proxy. The first contract is… Continue reading Can Smart Contracts Be Changed Over Time?
How It Works: Turning Everyday Objects into NFTs
Virtually anything can be turned into an NFT. The potential of the NFT chip is impressive. But before you start turning stuff into NFTs, you need to take note of copyright. NFT chips are easy to operate: Attach your chip to any physical object Scan the chip with your phone The chip will start doing… Continue reading How It Works: Turning Everyday Objects into NFTs
NFTs and Real Estate Investments: A Viable Pairing
While Real Estate has proven time and time again to be a solid investment, it does have its gaps. Real Estate requires interested buyers to save up money before making an actual down payment. In addition, this cannot easily be liquidated for cash. Thus the Real Estate accessibility gap. NFTs address the accessibility gap through… Continue reading NFTs and Real Estate Investments: A Viable Pairing
The Technologies That Make The Metaverse Possible
The Metaverse is a coalescence of multiple technologies that have seen fruition through the past decade. Here are a couple of the technologies that make it possible: Artificial Intelligence (AI), The Internet of Things (IoT), AR and VR, 3D modelling, and edge and spatial computing. Artificial Intelligence (AI) AI ensures the stability of the Metaverse’s… Continue reading The Technologies That Make The Metaverse Possible
PFP NFTs: What Are They And How They’re Different From Other NFTs
Interested in integrating PFP NFTs on your Twitter account? Find out what they are, how you could go about buying them, and what other benefits you could get from them. Profile Picture NFTs (PFP NFTs), are 2D images that can be purchased and sold as NFTs. They may appear as portraits of animals, persons, or… Continue reading PFP NFTs: What Are They And How They’re Different From Other NFTs
Digital Property: Crypto’s Main Contribution to Web3
In the metaverse, Lands are sold as NFTs. When you enter the space with an NFT for a piece of land, you are given privileges over the digital space. With the metaverse’s popularity in the cards, analysts agree that digital land projects linked to crypto games may have the best chance of surviving the bear… Continue reading Digital Property: Crypto’s Main Contribution to Web3
AI’s Role in Innovating the Blockchain
The AI and blockchain combo help in improving the efficiency of data security. Read on to find out how. Blockchain systems store and distribute operational models centered on AI. This helps in the development of an audit trail that enhances data security. The blockchain and AI combo augment the current logistics on healthcare record networks,… Continue reading AI’s Role in Innovating the Blockchain
Spotting Scam NFT Games
Want to get into GameFi? You might want to check out these first: game’s development team reviews social media posts project’s projected income project’s income streams Look Into The Game’s Development Team Determine if the project’s development team have accumulated experience. If the project is formed by an anonymous team, you might want to stay… Continue reading Spotting Scam NFT Games
How Digital IDs Will be Integral to Everyday Living
Blockchain-powered IDs will be integral to everyday living in the coming years. Governments are turning to blockchain tech for more effective ID management solutions. The push for more scalable methods to achieve privacy and decentralized data management integrity has never been more relevant than in the current era. Data suggests that the blockchain ID management… Continue reading How Digital IDs Will be Integral to Everyday Living