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The NFT Loss Harvestooor - By CoinLedger
p/the-nft-loss-harvestooor-by-coinledgerSell Your worthless NFTs. Save thousands in taxes.
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David Kemmerer

NFT Loss Harvestooor - Sell your worthless NFTs - save thousands in taxes

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The NFT Loss Harvestooor is a smart contract and tax-savings product designed and built by the CoinLedger team. It will buy any NFT in your portfolio for 0.00000001 ETH, allowing you to realize your losses and maximize your tax refund for the year.

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David Kemmerer
Maker
Hey all! Very excited to officially be launching The NFT Loss Harvestooor in tandem with Craig, Lucas, and the rest of the CoinLedger team. This past summer, we were super frustrated with how difficult it was to legitimately dispose of worthless NFTs in order to harvest losses on these assets for tax minimization. There's no real marketplace for worthless NFTs, but investors are sitting on thousands of dollars of tax savings if they had a simple way to harvest their NFT losses. From this pain-point, an idea was born! So, we started working on a smart contract that would buy any NFT for a de minimis amount of ETH, thus allowing investors to lock in their losses and reduce their 2022 tax bill. And today, we're excited to officially unveil what we've been hard at work on! So go check out The NFT Loss Harvestooor and let us know what you think! The product is completely free to use—just cover the cost of gas. Would love to hear any feedback in the comment section. Our team will be answering any questions or comments!
David Kemmerer
Maker
@johan_mash we make money if people wind up choosing to use CoinLedger to file their crypto & NFT taxes! So this free NFT harvestooor product is lead-generation for the core crypto tax software biz
Mariia Kashcheeva
@davidkemmerer hi David! Congrats with your launch! But I have a question what's the difference from OpenSea?
Ivo Schaper
Genius idea. Congrats on the launch! 🚀
Joan Mateo Duarte 🚀
As someone that has done a lot of NFTs trading is looks promising! Keep up the hard work! Congrats on launching!
user
Coool ! Congrats on your launch.
Jonathan Gans
Wow!! This is an amazing concept - had never even realized something like this is possible. Thank you so much for sharing!
Olga Zolotukhina
Really like it))
Veronica Henderson
Genius! Congratulations on the launch!
Izabela Tomica
Nice work, congrats on the launch!
Puneet Kohli
Product of the Year, @davidkemmerer! It's actually really smart. (A) because it helps people tax loss harvest easily, (B) creates great marketing and brand value for CoinLedge, but most importantly, (C) if any of those worthless NFTs ever go back up in price in the future, CoinLedger will have made a very sweet Return on "Investment".
Puneet Kohli
@davidkemmerer Following that up with the fact that no one else is buying these worthless NFTs right now, so it's also filling a void and really helping people holding them to actually benefit. Which makes point (A) doubly powerful. It not only "helps" people tax loss harvest, it actually ENABLES you to do it in the first place.
David Kemmerer
Maker
@puneet_kohli Precisely! The main purpose of this free product is to serve as lead generation for the core CoinLedger product
Mike Kennedy
Very interesting. Always cool to see what market opportunities open up as a result of technology and this is one that I never would have imagined. Although, if you realized the need for this product yourself, I hope your NFTs didn’t tank too badly!
bs
does this support Layer2?
Jimuel Mangao
@davidkemmerer Congratulations on the launch!!!!!
Rosanna
I used this today but in the floor app it is listed as a transfer rather than a sell.
Maali Baali
Helpful introductory video along with a great product. Congrats on the launch.
Johan Steneros
Very clever value proposition.
Valeria
Interesting idea, I belive many people will find the solution game-changing)
Ignacio Borzone
Seems amazing, keep building!!!
Aleksandr Cryptoved I WAODAO
Funny idea :)