Non-FungibleTokens(NFTs):Legal,taxandaccountingconsiderationsyouneedtoknowForewordNon-fungibletokens(NFTs)areuniqueandnon-interchangeabledigitalassetsstoredonablockchain.TheriseofNFTsthisyearhassurprisedpeopleinnotonlythegrowthoftheecosystembutalsothepracticalutilitiesofNFTs.Sinceearly2021,themarkethasgrownexponentiallyfromUS$13.7millioninthefirsthalfof2020,toUS$2.5billioninsalesinthefirsthalfofthisyear1.OneofthemostremarkablenewsaboutthegrowthofNon-FungibleTokenswasthesaleoftheBeepleartworkforUS$69millionattheauctionhouseChristies2.whichmadeBeeplethethirdmostexpensivelivingartistatauction.Inparticular,wehaveseenanexplosionofnewmethodsandtoolswhencreating...