There are numerous ways to donate; one of the most recent is through NFT (Non-fungible token). NFT has proven to be a game changer in charity and fundraising, allowing organizations to raise funds transparently.
NFT donors are exempt from paying capital gains tax, and non-profit organizations receive 100% of tax-free NFT donations. Furthermore, because all crypto transactions are recorded on the blockchain, all donations in the form of NFT or crypto are guaranteed to be fast, transparent, and secure.
What is NFT?
Many of you may still be unfamiliar with NFT. As previously stated, NFT is a non-fungible token that can take the form of data, games, or works of art (music, photos, videos, and digital paintings). NFTs are typically stored on the blockchain and can be traded whenever necessary. NFT, like other merchandise, varies in price depending on the artist’s type, quality, and reputation. NFT can only be purchased using cryptocurrencies like Bitcoin, Ethereum, Solana, Polkadot, and others.What are the benefits of donating with NFT?
There are numerous advantages to donating through NFT. Among the many benefits, the most prominent is tax efficiency or savings, whether for donors or charitable foundations. NFT donors are exempt from paying capital gains tax, and non-profit organizations receive 100% of tax-free NFT donations. Furthermore, because all crypto transactions are recorded on the blockchain, all donations in the form of NFT or crypto are guaranteed to be fast, transparent, and secure.
