NFT Tax Saver is the easiest way to save on taxes by selling your illiquid NFTs at a loss.

The idea for NFT Tax Saver was born when our founders realized they had purchased a ton of NFTs that were now worth significantly less than what they originally paid for them. Sound familiar?

Typically, with liquid assets like stocks, when you make a bad trade, you can simply sell and realize your losses, thereby decreasing your total profits (and tax bill).

But with NFTs, selling is more complicated – you have to wait until someone else is available to buy your exact NFT from you. For many collections, interest can be so low that it becomes near impossible to actually sell your NFT. You’re stuck with inventory that you know is worthless, but you are unable to realize your losses for tax purposes (losses are only realized when a sale actually happens).

NFT Tax Saver fixes this. Our dapp allows you to sell any NFT to us, and we’ll buy it off of you for 1 gwei, or a tiny fraction of a USD cent.* You’ve now officially realized a loss on this sale, which means you will report a lower profit gain (or even a loss) on your tax documents. Usually, this means you’ll pay less in taxes that year.**

What’s in it for us? Well, two things. First, we’re excited at the prospect that one day some of these NFTs might be worth something. Sure, your backward-facing angry aardvark with sunglasses and questionable teeth may not be worth anything now, but we like to think of ourselves as a pawn shop for NFTs. One man’s trash is another man’s treasure, even on the blockchain.

Second, we like building cool stuff. It was a lot of fun to create NFT Tax Saver, and we’re always shipping improvements. We intend to create more useful products in the future, all aimed towards making life easier for crypto participants.

We’ve tried to make the user experience as intuitive as possible, but if you want instructions on how to use NFT Tax Saver, here’s a guide on How It Works.