What exactly are taxed in NFT games?

submitted 1 year ago by MathewWade1324 to cryptocurrency

The items you win by playing NFT games in an NFT marketplace for game assets are considered capital gains. As a consequence of this, you will be required to pay capital gains tax on them. You will be required to pay a percentage of the item's value when you sell it. Consequently, you will need to accurately record all of your winnings and losses when it comes time to file your taxes.