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<ul class="summary-list"><li>NewsAnchored promised "GUARANTEED publishing services" without dealing with "grumpy journos."</li><li>It runs a network of sites where clients can publish whatever they want for $1,500 a month.</li></ul>A company that sells guaranteed "news" coverage created knockoff versions of name-brand news websites, including Rolling Stone, MarketWatch, the New York Post, and even Business Insider, and populated the sites with hundreds of apparently AI-generated articles.NewsAnchored, which doesn't reveal the full names of its owners or corporate leadership, markets its 30 "reputable" websites to public-relations firms and search-engine-optimization agencies to manufacture positive Google search results for their clients.But many of the company's websites blatantly rip off national news brands — and they appear to be full of AI-written garbage. Until recently, the website Music Observer was a clear <a target="_blank" href="https://web.archive.org/web/20231127151410/https://musicobserver.com/">knockoff</a> of Rolling Stone. The green-and-black lettering of the <a target="_blank" href="https://web.archive.org/web/20231127145937/https://marketdaily.com/">MarketDaily</a> logo looked a lot like that of MarketWatch. The New York Post's iconic italicized, all-caps type with drop shadows on a red background was crudely imitated by a site called the <a target="_blank" href="https://web.archive.org/web/20231011153331/https://entertainmentpost.com/">Entertainment Post</a>. And the logo of US Reporter closely resembles USA Today's.At least six of the sites were redesigned to remove the similarities to established media brands after BI contacted the company for a comment on this story."Whoever set up this website appears to think that if they don't use the name, they are free to do whatever they want. That's definitely not the case," said Eric Perrott, a trademark lawyer at Gerben Perrott.For as long as there have been search engines, there have been website owners trying to game them, but generative AI appears to enable sites like the ones run by NewsAnchored to churn out a staggering amount of junk — five "authors" for Music Observer published 150 articles on December 11 alone. The authors appear to be fake, and all of the articles spot-checked by BI appeared to be AI-generated rewrites of pieces published by Billboard.The services offered by NewsAnchored also aren't that valuable, one industry expert said. Eric Carrell, the CEO of the search-engine-optimization firm <a target="_blank" href="https://dofollow.com/">DoFollow</a>, said the NewsAnchored sites he reviewed got little traffic and aren't highly trusted by search engines. The websites they link to include mom-and-pop businesses, like local cleaning services, that are probably getting taken for a ride by SEO vendors, Carrell said."These little brick-and-mortar businesses, I'm guessing they need SEO and they hire someone off of Fiverr," he said. "These people have no idea that the money they're spending has absolutely no effect."<h2>A fake Insider feature</h2>NewsAnchored markets itself to businesses that want publicity and struggle to get it."Instead of spending 20 hours a week pitching to grumpy journos," it says on its homepage, publicists can offer their clients "GUARANTEED publishing services" on its websites that, if you squint and don't actually read them, look sort of like news.Ryan Croy, who runs the Los Angeles PR firm Public Haus Agency, said his mention on the NewsAnchored website Influencer Daily wasn't one he sought out for the content — his priority was getting backlinks to boost his firm's SEO."I didn't even know that this was a network of sites. I basically picked from a menu of different outlets — low cost, and solely to impact my SEO," he said. He summarized a conversation with an SEO advisor this way: "I said, 'OK, this site has a domain authority of 45.' They said, 'If you get two or three of those, that will help.'"Some subjects of glowing NewsAnchored posts are small businesses that might struggle to get traditional news coverage. Others are more dodgy: BI found at least two NFT projects, including one linked to a businessman who had been sued by the Federal Trade Commission, that were spotlighted on NewsAnchored sites.Another subject of NewsAnchored puff pieces is Lance Dion, a purported branding expert. Dion, whose full name is Lance Dion Ashley, was sentenced to a year in prison in 2022 for cheating on taxes and lying to the IRS. BI's efforts to reach Ashley through his lawyer, listed phone numbers, email, and social media weren't successful.A Business Insider reporter first found NewsAnchored while reporting on <a target="_blank" href="https://www.businessinsider.com/wealth-assistants-amazon-automation-users-lost-thousands-red-flags-2023-11">Wealth Assistants</a>, a company that claimed it could help investors get rich on Amazon. An archived version of Wealth Assistants' website said it was featured in "US Insider" — a website whose logo looked almost exactly like Business Insider's old logo.US Insider changed its logo and website earlier this year to look less like BI's, archived versions show. But NewsAnchored hasn't backed down from ripping off other media outlets — in fact, it appears to have accelerated its efforts.In June, <a target="_blank" href="https://web.archive.org/web/20230607160721/https://musicobserver.com/">Music Observer's</a> website looked nothing like Rolling Stone's, but it recently attempted to duplicate the much better-known brand's look and feel. Shortly before this article was published, Music Observer reverted to the logo it had been using in June.Contacts at Rolling Stone, Dow Jones, and other publishers named in this story didn't respond to requests for comment. But Perrott, the trademark lawyer, said they would have a good case in court — though it would cost thousands of dollars in litigation fees, and there's no guarantee the companies would recover any money.This is "a very cynical attempt to ride the coattails of a brand," he said.<h2>Who is NewsAnchored?</h2>While NewsAnchored lists 30 news brands on its website as part of its "Credibility Bar," those "reputable" brands reveal little about who publishes them. NewsAnchored's terms of service mention a company in Wyoming — where corporate officers aren't public — called NA Publishing Group LLC, which was incorporated on September 13.At a glance, nearly all of the websites NewAnchored operates look like genuine news outlets. In press releases, NewsAnchored calls itself a "media conglomerate" focused on "impactful journalism." But there are no juicy scoops or hot takes, just a mixture of what appears to be articles rewritten by AI and insipid pablum about minor figures (published with plenty of links back).The bylines on the site don't appear real, either. A bio for Entertainment Post's "Melanie Moore" — or "<a target="_blank" href="https://web.archive.org/web/20230608080623/https://entertainmentpost.com/contributor-4/">Contributor 4</a>," as she's referred to in the URL — says she was born into a family of filmmakers and attended college, but it provides no specific, checkable biographical details, a common thread in the biographies of NewsAnchored "writers." No Melanie Moore fitting that description could be found via any search method, and none of the headshots Business Insider conducted reverse-image searches for resulted in hits.A clue to its business model could be found on a referral page linked to by Dillon Kino, NewsAnchored's chief marketing officer. The page offers "unlimited article placements," including "free access to Article Genie (AI writer tool)," for just $599 a month. The normal rate, according to Kino's referral page, is $1,500 a month.Kino and others at NewsAnchored never responded to BI's inquiries. On December 13, shortly after BI emailed Kino a list of facts we intended to publish, at least six NewsAnchored websites changed their logos to look less like those of established media properties. Kino's referral page also vanished.Carrell, the SEO expert, said many clients are still apprehensive — appropriately, in his view — about having backlinks in AI-generated content. <a target="_blank" href="https://www.businessinsider.com/ai-chatgpt-jobs-replaced-by-tech-translator-2023-9">G/O Media</a>, which publishes the AV Club and Gizmodo, and Arena Group, the publisher of <a target="_blank" href="https://www.businessinsider.com/sports-illustrated-ran-articles-by-fake-ai-generated-writers-report-2023-11">Sports Illustrated</a>, have been embarrassed after publishing AI-generated content with factual errors and fake authors."The way that a lot of people see the industry going is that Google is going to want to see content that's written from firsthand experience," he said. "And that's just not something that AI is going to be able to do. So our clients don't use AI content that I'm aware of."Kino was the only NewsAnchored executive to use his full name and actual photo on its website. The others use first names and last initials and sketches instead of photos.The company's CEO is named in a press release as "Oliver T." and it lists just five employees on LinkedIn.Even for Carell, the brazenness of the mimicry was unique. "I hadn't seen people just straight up trying to knock off other websites," he said. "I hadn't seen that before."

A shadowy firm ripped off dozens of media websites to prop up NFT projects, Amazon hustlers, and a convicted tax cheat

Now, we all know that any profit made from trading in cryptocurrencies will be <a href="https://www.businessinsider.in/budget/news/from-cryptocurrencies-to-nfts-india-to-tax-all-virtual-digital-assets-at-30/articleshow/89268587.cms">taxable at 30%</a>. But that’s just the beginning. There’s a lot more that India’s Finance Minister didn’t say, than what she said. The way the government is treating <keyword id="2721952" type="General" weightage="100" keywordseo="crypto" source="Orion">crypto</keyword> traders in the same way it treats gamblers or lottery enthusiasts. We can’t stop you, so we’ll tax you so much that it might break your spirit. <div type="image" title="30% tax on virtual digital assets" msid="89461919" hostid="261"></div> Crypto critics would say that it is the right thing to do because whether it’s <a href="https://www.businessinsider.in/investment/news/bitcoin-ethereum-and-others-have-lost-nearly-40-percent-since-their-record-highs-but-investors-are-still-better-off-than-they-were-a-year-ago/articleshow/88823379.cms">Bitcoin, Ethereum or Solana</a>, they can’t be used as currency. Those who buy any coin or non-fungible token (<a href="https://www.businessinsider.in/investment/news/15-most-expensive-nfts-of-2021-by-pak-beeple-cryptopunks-and-others/slidelist/88540923.cms">NFT</a>) are just hoping that someone else will buy it at a higher price. If that’s not a gamble, then what is. If the argument is that cryptos are inevitable in the <keyword id="50691" type="General" weightage="50" keywordseo="digital" source="Orion">digital</keyword> era, the government is anyway looking to get the <a href="https://www.businessinsider.in/budget/news/digital-rupee-to-be-introduced-by-the-rbi-confirms-fm-nirmala-sitharaman-speech/articleshow/89268343.cms">digital rupee</a> out in the market this year. So, for them, there isn't a lot of love or trust left to lose. <a href="https://www.instagram.com/p/CZejH5-KZjw/" data-type="tilCustomLink" target="_blank">What is Digital Rupee?</a> That's evident in the 1% tax to be deducted at source (<keyword id="17506" type="General" weightage="20" keywordseo="tds" source="Orion">TDS</keyword>). Every time someone buys crypto they have to deduct a 1% tax on the value of the sale. The question is, why is the government asking for TDS? <div type="image" title="Why is the govt asking for TDS?" msid="89461993" hostid="261"></div> It basically wants to track <a href="https://www.businessinsider.in/investment/news/bitcoin-does-not-make-payments-anonymous-just-really-hard-to-trace/articleshow/85068905.cms">crypto transactions</a> itself, instead of relying on data provided by the exchanges. And, therefore, find out who are the people buying and selling cryptos, how much are they buying/selling, and maybe even, what else they do, financially speaking. These are important signs for you to keep in mind before putting more money into these ‘virtual digital assets’ before the <a href="https://www.businessinsider.in/cryptocurrency/news/no-india-crypto-bill-in-sight-even-after-winter-session-of-parliament-comes-to-a-close/articleshow/88449161.cms">crypto bill</a> makes it through the <keyword id="6354721" type="General" weightage="20" keywordseo="parliament" source="Orion">Parliament</keyword>. Policymakers don’t like crypto — if you didn’t know by now, you should. So, expect very little empathy, and an even lesser amount of mercy if the taxman comes calling. For now, the good news is that the new 30% tax kicks in only from April 1. Until then, you may still have to pay the tax on capital gains ⁠— long-term or short-term ⁠— or business income <a href="https://www.businessinsider.in/investment/news/cryptocurrency-faqs-everything-you-need-to-know-about-the-cryptocurrencies-the-crypto-market-and-everything-in-between/articleshow/87465186.cms">as the case may be</a>. Tightening the noose around crypto can achieve one more thing ⁠— move more money into the stock market. Here’s how. <div type="image" title="There are messages hidden in the crypto tax" msid="89462135" hostid="261"></div>

SIMPLY PUT: There are messages hidden in the crypto tax

<ul class="summary-list"><li>The former general counsel at Centre broke down the tax implications behind buying and selling NFTs in a Thursday Twitter thread.</li><li>There is no formal guidance regarding the tax classification of NFTs and they could be considered collectibles, she noted. </li><li><keyword id="4668945" type="General" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> trading volumes have soared in the last month.</li></ul>The <a href="https://markets.businessinsider.com/news/currencies/opensea-trade-volumes-nft-ether-solana-alcoin-a16z-funding-strong-2021-8">NFT space is booming</a>, but investors shouldn't forget about the tax implications that come with buying and selling digital art. Amy Madison, who formerly served as the general counsel at Centre, which administers the platform that powers the USDC <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">stablecoin</a>, broke down the tax burden of NFTs in a Thursday <a href="https://twitter.com/_amymadison/status/1436020618311389191?s=20">Twitter thread</a>, with the disclaimer that she is not giving tax, legal, or investment advice. The <keyword id="2721952" type="General" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> expert explained that NFT collectors and investors trigger a taxable event when they purchase and sell an NFT. If they purchase with another <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">cryptocurrency</a>, a taxable event occurs upon the disposition of the cryptocurrency, treated as property. "Then, if and when you sell your NFT, any gains made would be subject to ordinary income tax if held for less than a year, or long term capital gains (0% to 20%) tax if held for longer than a year," she explained. Meanwhile, NFT creators trigger a taxable event when selling their NFT. "The proceeds are subject to ordinary income taxes and sometimes self-employment taxes (15.3%). Creators can deduct ordinary and necessary business expenses," Madison noted. She also noted that there is no formal guidance regarding the tax classification of NFTs. There could be a risk that NFTs be treated as collectible items, which are subject to a higher tax rate of 28%, Madison said. NFTs held for longer than a year would fall under that rule. The legal expert also described tax implications for people with NFTs that generate recurring revenue streams, and for collectors who trade NFTs as a regular part of their business in the thread. Questions around the tax rules behind NFTs come as the trading volumes for the tokens soar. On OpenSea, one of the largest NFT marketplaces, trading volumes have increased 243% in the last month, according to <a href="https://dappradar.com/ethereum/marketplaces/opensea">DappRadar</a>.

NFTs are booming, but buyers should beware of big and complex tax implications when trading digital art, according to a legal expert

<ul><li>You must disclose income from virtual digital assets (VDA)s such as <keyword id="2420795" type="General" weightage="20" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>, non fungible token (NFT)s and more in the ‘schedule VDA’ provided in the <keyword id="6374875" type="General" weightage="20" keywordseo="itr" source="Orion">ITR</keyword> form. </li><li>Schedule VDA requires information such as the acquisition date, transfer date, category of income for taxation, acquisition cost in the case of a gift, and consideration received. </li><li>The donation reference number (ARN), obtained from the form 10BE donation certificate must be included in the ITR to avail 80G deductions. </li></ul>With the <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword> filing deadline less than a month away, you need to ensure you are up-to-date on all the changes that are applicable this year. While modifications in tax and taxability of income from insurance policies (other than ULIPs) are among the most notable changes that have drawn a lot of attention, there are a couple of lesser known changes one should be aware of when filing one’s taxes. We take a look at these changes. The first is about disclosing income from virtual digital assets (VDAs) such as cryptocurrencies. “The taxpayer must disclose income from VDAs such as cryptocurrencies, NFTs, and so on in the "schedule VDA" provided in the ITR form,” says Aashish Sharma, co- founder and litigation head, Lex N Tax, a tax consultancy firm. Schedule VDA requires information such as the acquisition date, transfer date, category of income for taxation, acquisition cost in the case of a gift, and consideration received. “Those who get VDA income are not eligible to file ITR-1 or ITR-4. Such income can instead be declared in ITR 2 or ITR 3. Further, income from VDAs can be taxed either under the head of business income or capital gains,” says Sharma. Budget 2022 had introduced new NFT (non fungible token) and VDA regulations. The transfer of such assets will be subject to an income tax rate of 30% plus a surcharge and a levy beginning April 1, 2022, as per recent regulations. “TDS will be deducted at 1% of the sale price beginning July 1, 2022. This tax will be deducted by the developer, intermediary, broker or donor. The taxpayers cannot set off losses or carry forward the losses within crypto or from different heads,” says Suneel Dasari, founder and chief executive officer at EZTax, a tax portal. <cmsannotation type="cmsannotation" annotationid="Provide details of donation reference number to avail 80G deductions" comment="subhead" text="Provide details of donation reference number to avail 80G deductions">Provide details of donation reference number to avail 80G deductions</cmsannotation> To avail a deduction under <keyword id="1667689" type="General" weightage="20" keywordseo="section-80g" source="Orion">Section 80G</keyword> for donations made to charitable institutions, non governmental organisations or research universities, it is crucial to possess the donation receipt, and the donation certificate in Form 10BE. Taxpayers must provide the necessary information regarding their donations in the relevant 'Schedule 80G' within the ITR form in order to claim the deduction. “All approved u/s 80G charitable institutions, NGOs, and research universities must submit Form 10BD for all donations received during the fiscal year. They must also provide form 10BE to the recipients,” says Dasari. Form 10BE, containing a unique registration number, will be issued to benefactors after form 10BD has been filed by the institution. It is essential to enter donation details accurately in the appropriate table while filing the ITR. There is a new column under Table D for disclosing the donation reference number (ARN) for donations made to eligible entities where a 50% deduction is allowed, subject to the qualifying limit. The ARN, obtained from the form 10BE donation certificate issued by the institutions who received the donation, must be included in the ITR. This has been implemented to match donor and donee records and reduce the prevalence of fraudulent donations claims.

Two new tax rules you should be aware of when filing your taxes

<ul class="summary-list"><li><keyword id="10871093" type="UNKNOWN" weightage="60" keywordseo="crypto-art">Crypto art</keyword> is taxed when it is purchased and sold, as well as through the cryptocurrencies used to buy the <keyword id="902592" type="PERSON" weightage="60" keywordseo="NFTS">NFTs</keyword>.</li><li>NFTs are not yet subject to the same sales <keyword id="6368033" type="UNKNOWN" weightage="60" keywordseo="taxes">taxes</keyword> as physical art pieces.</li><li>After his $70 million <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> sale, Beeple likely faces taxes worth tens of million of dollars.</li></ul>While crypto art sales have boomed in the past month, catching the national spotlight with flashy price tags, what many buyers and sellers might not realize is that <a href="https://www.businessinsider.com/what-does-nft-mean-crytpo-non-fungible-tokens-art-explained-2021-2">non-fungible tokens or NFTs can generate a large tax bill.</a>In March, a crypto art piece by digital artist Mike Winkelmann, also known as <a href="https://www.businessinsider.com/art-auction-nft-beeple-top-selling-most-expensive-sale-millions-2021-3">Beeple, made history when it sold for nearly $70 million</a>. When told how he would be taxed on the sale, Winkelmann expressed surprise. "Holy s---, that's a lot of taxes," Winkelmann told CNBC.Winkelmann may be facing a tax bill worth tens of millions of dollars. As an artist, Winkelmann will also have to pay federal and state income taxes on his earnings from the sale, in addition to reporting the <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> gains on his 2020 tax return.The Internal Revenue Services sees buying and selling NFTs as a realization of investment gains, and therefore subject to the <a href="https://www.investopedia.com/terms/c/capital_gains_tax.asp">capital gains tax.</a>There are multiple ways you can get taxed when buying and selling an NFT. Capital gains taxes apply to NFTs, in much the same way they apply to selling stocks. However, because NFTs are considered collectibles they are also taxed at an even higher rate of 28%.NFT buyers and sellers also need to be aware of how the cryptocurrency they used to buy the NFT will be taxed.Most crypto-art pieces are bought using digital currencies, including <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword> and WAX. These cryptocurrencies are also subject to a capital gains tax, depending on how much they've gained in value since they were originally purchased and how long the buyer held the digital currency.If the buyer held the cryptocurrency for over a year, they would be subject to a long-term capital gains tax. Long-term capital gains are taxed at 15% for individuals who earn between $40,000 and $441,000 - and 20% for individuals that make more than that amount. Holding the digital asset for less than a year will create a short-term capital gain, which is based upon the <a href="https://www.businessinsider.com/personal-finance/effective-tax-rate-quarterly-taxes-small-business-2020-6" target="_blank" rel="noopener">effective tax rate</a> for the taxpayer.In short, NFT buyers and sellers will be taxed when purchasing an NFT using a digital currency, selling an NFT for another NFT, selling an NFT for a cryptocurrency, as well as when converting the cryptocurrency used to buy and sell the item back into US dollars.On the other hand, NFTs are not yet subject to the sales tax that would be applied to a physical piece of art - an issue that art law expert Diana Wierbicki told <a href="https://news.artnet.com/market/nft-taxes-1953726">ArtNet</a> state tax laws could soon catch up to.The IRS has been<a href="https://www.cnbc.com/2021/02/24/failure-to-report-crypto-on-tax-returns-can-lead-to-trouble-with-irs.html"> cracking down on cryptocurrencies in recent month</a>s. This year, the IRS put a question about crypto investments on the first page of 2020 tax returns. People that fail to report digital assets or attempt to hide them could face serious penalties from the IRS.Many NFT buyers and sellers likely do not know the hefty tax fees they will face. Shehan Chandrasekera, head of tax strategy at CoinTracker, <a href="https://www.cnbc.com/2021/03/17/tax-surprise-looms-for-nft-investors-who-use-crypto-.html">told CNBC</a> that there's so many unknowns when it comes to the emerging market of NFTs that many people probably won't know what to expect on tax day. "People's knowledge of this tax in the U.S. is very poor," he said. "I just don't think people know about it."This article was reviewed for accuracy and clarity by <a href="https://folafinancial.com/" target="_blank" rel="noopener noreferrer">Sheneya Wilson</a>, an expert on Personal Finance Insider's <a href="https://www.businessinsider.com/personal-finance/tax-review-board-experts" target="_blank" rel="noopener noreferrer">tax review board</a>.

Crypto-art investors could face a surprise on tax day since NFTs can lead to a hefty tax bill

<ul class="summary-list"><li>Rep. <keyword id="296815" type="PERSON" weightage="60" keywordseo="Anna-Eshoo">Anna Eshoo</keyword> urged <keyword id="128640" type="PERSON" weightage="60" keywordseo="Nancy-Pelosi">Nancy Pelosi</keyword> to change the <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> language in the infrastructure bill.</li><li>The House of Representatives is assessing the bill, which covers crypto tax reporting requirements.</li><li>Eshoo's letter is now a <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword>, underscoring the crypto community's opposition to the new rules' scope.</li></ul>Rep. Anna Eshoo urged House Speaker Nancy Pelosi to change the cryptocurrency-tax language in the $1 trillion infrastructure bill in a letter dated Thursday.The bill was <a href="https://www.businessinsider.com/senate-approves-biden-bipartisan-1-trillion-infrastructure-bill-mitch-mcconnell-2021-8">approved</a> in the Senate on Tuesday, but <a href="https://markets.businessinsider.com/news/currencies/crypto-amendment-infrastrucutre-bill-tax-regulation-cryptocurrency-reporting-irs-2021-8">without a compromise amendment</a> that would have narrowed the definition of "<keyword id="49221" type="POSITION" weightage="60" keywordseo="Broker">broker</keyword>" in specifying which companies must report crypto gains.Eshoo said the bill placed new tax-reporting requirements on the crypto industry by broadening the definition. It includes miners, developers of wallets, and validators that would be unable to comply with the requirements, as they would not know who the buyers and sellers were due to the decentralized nature of crypto, she added."When the House takes up the Senate bill, I encourage you to amend the problematic broker definition in section 80603 of the legislation," Eshoo said in her letter, which she shared on <a href="https://twitter.com/RepAnnaEshoo/status/1425854869122998273?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1425854869122998273%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fmembers-of-congress-lobby-nacy-pelosi-and-others-to-amend-crypto-tax-definitiontion">Twitter</a> this week. Pelosi has said the House of Representatives won't take up the legislation for consideration until the Senate has approved a Democrat-backed $3.5 trillion spending plan, likely in the fall."I share the goals of the underlying provision to address tax evasion in the cryptocurrency market, but the House should amend it, as the bipartisan compromise amendment would have, to meet this goal without stifling innovation in a nascent industry by imposing unworkable regulations," Eshoo wrote.Her comments echo loud criticism of the bill by crypto advocates, who have argued the tax-reporting requirement would hinder the development of the crypto industry. Galaxy Digital CEO <a href="https://twitter.com/novogratz/status/1424839320633061377">Mike Novogratz</a> and Charles Hoskinson, founder of the cardano cryptocurrency, are among those who have voiced <a href="https://twitter.com/IOHK_Charles/status/1424853604955942917">concerns</a>.In a show of support by the crypto world, the letter by Eshoo has been turned into a non-fungible token offered on the <a href="https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/81777632367771214888907630082873355839822703080132816723170527791403912658945/">OpenSea platform</a>. NFTs are one-of-a-kind collectible digital tokens tied to real-world assets such as videos, art, and fashion. The NFT is owned by a user named "Duncan_1982," whose collection otherwise mainly covers "Bored Ape" items.

Rep. Anna Eshoo urged Nancy Pelosi to change the crypto tax language in the infrastructure bill - and there's now a NFT of her letter

<ul class="summary-list"><li><keyword id="11948246" type="UNKNOWN" weightage="60" keywordseo="budweiser" source="Orion">Budweiser</keyword> dropped its first-ever <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> line as the beer giant deepens its foray into the digital asset space. </li></ul><ul class="summary-list"><li>The collection consists of 1,936 Budverse Cans as a hat tip to the first-ever launch of the Budweiser can in 1936.</li><li>Of those, 36 are considered gold NFTs — rare tokens costing $999.</li></ul>Budweiser dropped its <a href="https://twitter.com/budweiserusa/status/1465334779558174726?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1465334779558174726%7Ctwgr%5E%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F87175%2Fbudweiser-nfts-key-to-budverse">first-ever NFT collection</a> Monday as the beer giant deepens its foray into the digital asset space. The largest brewer in the world released a line of non-fungible tokens called the Budverse Cans Heritage Edition. It consists of 1,936 Budverse Cans as a hat tip to the first-ever launch of the Budweiser can in 1936.Each ethereum-based NFT is one of a kind, generated using archived photos, ads, and designs from throughout Budweiser's history.Of those, 36 are considered gold NFTs — rare tokens costing $999 that come with benefits, rewards, and surprises exclusive to those holders. The rest are considered core editions, which cost $499 and come with their own perks.The purchase of these NFTs, which Budweiser called "key to the Budverse," is only available through the company's website to US residents who are of legal drinking age.There will be an additional charge to cover a gas fee of $75 for each NFT purchase. The tokens can be bought with fiat currencies, credit card, or bitcoin/ether via Coinbase Commerce. There will be a maximum purchase of $10,000 per person a day including fees and sales tax."Now you can own a piece of history and a collectible that gives you access to the future of Budverse," the <a href="https://us.budweiser.com/NFT">website</a> said.This latest dive into NFTs comes after Budweiser in <a href="https://markets.businessinsider.com/news/currencies/budweiser-nft-spacerocket-rocket-factory-project-nonfungible-token-crypto-asset-2021-8">August</a> bought an NFT of a rocket emblazoned with its logo for 8 ether coins (worth $25,000 at that time), according to NFT platform <a href="https://opensea.io/assets/0x6b00de202e3cd03c523ca05d8b47231dbdd9142b/325" target="_blank" rel="noopener">OpenSea</a>. <a href="https://opensea.io/assets/0x57f1887a8bf19b14fc0df6fd9b2acc9af147ea85/69406976489375853983395395232238482141787305592400082827240731448876110915645" target="_blank" rel="noopener">Records</a> also show the <a href="https://markets.businessinsider.com/stocks/bud-stock">Anheuser-Busch</a> subsidiary snapped up the domain name beer.eth for 30 ether (worth $94,000 at that time), under which the rocket and other NFTs are stored on crypto platforms.A growing number of companies — most recently, department store <a href="https://markets.businessinsider.com/news/currencies/macys-nft-thanksgiving-day-parade-balloons-rare-free-rare-polygon-2021-11">Macy's</a> — have joined the NFT craze as the <a href="https://www.businessinsider.com/how-to-create-sell-nft-art-ethereum-network-tips-2021-11?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">market</a> sees <a href="https://markets.businessinsider.com/news/currencies/nft-market-worth-7-billion-legal-issues-could-hinder-growth-2021-11?utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">explosive growth</a> this year.NFT sales of digital art items hover at a monthly rate of about $2 billion, according to <a href="https://markets.businessinsider.com/stocks/jpm-stock?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">JPMorgan</a>, a big increase from monthly sales volume of about $400 million at the start of the year. The market cap of the NFT universe has grown to about $7 billion, according to the bank. NFTs are <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">digital representations</a> of artwork, sports cards, or other collectibles tied to a blockchain, typically on ethereum. Each NFT has a signature that can be verified in the public ledger and cannot be duplicated nor edited.

Budweiser is getting in on the NFT craze with its 'Key to the Budverse' line of ethereum-based collectibles

<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="Andrew Steinwold, founder of NFT investment firm Sfermion" height="878" width="1170" msid="92706753" hostid="261" sizebytes="50358"></div><ul class="summary-list"><li>As <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> tumble, many <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> collections have seen their values plunge as well.</li><li>The managing partner of an NFT investment firm explains why <keyword id="6357332" type="UNKNOWN" weightage="60" keywordseo="gaming" source="Orion">gaming</keyword> will onboard more users.</li></ul>NFTs, or non-fungible tokens, felt like all the rage last year, with celebrities from Snoop Dogg to Reese Witherspoon sporting six-figure JPEGs as their profile pictures. Meanwhile, Beeple's "Everydays: The First 5,000 Days" NFT sold for more than <a href="https://www.businessinsider.com/art-auction-nft-beeple-top-selling-most-expensive-sale-millions-2021-3" target="_blank" rel="nofollow noopener sponsored">$69 million</a> at Sotheby's auction house. <a href="https://www.nytimes.com/2021/10/04/style/dolce-gabbana-nft.html" target="_blank" rel="nofollow noopener sponsored">Dolce &amp; Gabbana</a> and the NBA jumped on board with collections of their own.As broader crypto markets tumble, however, <a href="https://www.bloomberg.com/news/articles/2022-06-29/nfts-have-fallen-off-the-cliff-as-sales-sink-to-lowest-in-year?utm_campaign=socialflow-organic&amp;utm_content=crypto&amp;utm_source=twitter&amp;utm_medium=social#xj4y7vzkg" target="_blank" rel="nofollow noopener sponsored">so have NFTs</a>. Ethereum, which is commonly used to buy and mint the digital assets, has declined 78.7% since its all-time high in November, according to dashboard <a href="https://messari.io/asset/ethereum" target="_blank" rel="nofollow noopener sponsored">Messari</a>, Top-tier collections have seen their values plunge as well, per a <a href="https://dappradar.com/blog/dappradar-industry-report-may-2022/#NFT" target="_blank" rel="nofollow noopener sponsored">DappRadar industry report</a>, with <keyword id="12881347" type="UNKNOWN" weightage="60" keywordseo="bored-ape" source="Orion">Bored Ape</keyword> Yacht Club floor prices falling 38% last month. OpenSea, one of the largest NFT marketplaces, declined 65% in trading volumes and had a 14% decrease in number of users in the same time frame. Hopeful <keyword id="12461337" type="UNKNOWN" weightage="60" keywordseo="web3" source="Orion">Web3</keyword> VCs and founders, however, told Insider that although prices are declining, the tokenized assets will stick around and eventually hit the mainstream by 2032. <h2>10-year outlook for NFTs</h2>Benjamin Cohen, founder of crypto <keyword id="14385207" type="UNKNOWN" weightage="60" keywordseo="venture" source="Orion">venture</keyword> firm Web 3 Equities, says the majority of NFTs won't be featured on social media accounts as a way to flex a collector's wealth. Instead, they will have a wide variety of use cases, which includes <keyword id="11898471" type="UNKNOWN" weightage="60" keywordseo="music" source="Orion">music</keyword>, gaming, ticketing, virtual real estate, deeds for houses, medical records, and even collateral for loans. Virtual real estate developer Republic Realm <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fmetaverse-real-estate-piles-up-record-sales-in-sandbox-and-other-virtual-realms-11638268380" target="_blank" rel="nofollow noopener sponsored">announced</a> it had purchased a piece of property in metaverse game The Sandbox for $4.3 million. In March, an anonymous borrower <a href="https://blockworks.co/in-largest-ever-nft-backed-loan-101-cryptopunks-put-up-as-collateral/" target="_blank" rel="nofollow noopener sponsored">took out</a> an $8 million loan backed by a collection of 101 CryptoPunk NFTs. "Over time entrepreneurs will find creative ways to use NFTs and smart contracts in ways that we haven't conceived yet, far beyond the scope of status symbols," Cohen said. Although they founded different firms, CEO of blockchain ticketing platform YellowHeart Josh Katz and Cohen both agree that NFTs will move towards more utility use cases. People will cut out the "middlemen," Katz said, with ticket NFTs, weeding out third parties like Ticketmaster. YellowHeart, which has worked with musicians like Kings of Leon and Maroon 5, <a href="https://www.nftculture.com/nft-news/tao-group-hospitality-partners-with-yellowheart-to-introduce-nft-ticketing/" target="_blank" rel="nofollow noopener sponsored">announced</a> a partnership with Tao Group Hospitality, to sell tickets to its venues as NFTs. "Businesses are going to figure out cool ways to incorporate NFTs into something that we're doing everyday right now," Katz said, adding that most projects will have fiat on-ramps. "For ticketing, you could cut the line, get to the venue early, or get a free beer."In 2032, NFTs will also be more accessible than they are now so that "most internet users" can afford them, says Stephen Young, the founder and CEO of NFT lending marketplace NFTfi. "At the moment, many NFTs are expensive because blockchains are expensive and slow, so the use cases that make sense require high value NFTs," he said. To mint or purchase an NFT on Ethereum, investors and creators have to pay gas fees. These costs occur when performing any sort of function on Ethereum's network. At times, these fees can be <a href="https://mashable.com/article/ethereum-gas-fees-skyrocket-bored-ape-yacht-club-otherside-nft-launch" target="_blank" rel="nofollow noopener sponsored">more expensive than the NFT itself.</a> Other blockchains and Layer-2s like Solana or Polygon, however, have quicker transaction times with lower costs.<h2>Mainstream adoption and hurdles </h2>Andrew Steinwold, the managing partner of NFT investment firm <keyword id="14385208" type="UNKNOWN" weightage="60" keywordseo="sfermion" source="Orion">Sfermion</keyword>, says gaming will be the use case that onboards the most users. (Sfermion <a href="https://www.businesswire.com/news/home/20211101005038/en/Sfermion-Raises-100M-NFT-Fund-Aimed-at-Accelerating-the-Emergence-of-the-Metaverse" target="_blank" rel="nofollow noopener sponsored">announced a $100 million fund</a> last year and has previously invested in AI enabled NFT platform Alethea AI, Web3 developer platform Mojito, and virtual real estate marketplace Parcel.)"I think NFTs in gaming have a really simple selling point to the user, 'Hey you spent $20 on this digital good in this video game, but you don't actually own it. Wouldn't you like to own it?'" Steinwold said. Blockchain gaming, unlike broader crypto markets, has <a href="https://techcrunch.com/2022/06/22/blockchain-gaming-unfazed-by-crypto-volatility-as-gamers-seek-out-entertainment/" target="_blank" rel="nofollow noopener sponsored">remained stable</a> in recent months. Around 1.15 million daily active wallets interacted with Web3 games in May, per a DappRadar <a href="https://dappradar.com/blog/dappradar-crypto-games-report-5-blockchain-games-continue-to-defy-the-bear-market" target="_blank" rel="nofollow noopener sponsored">report</a>, declining 5% from the month before. Popular games include Splinterlands and Illuvium. Video games are also "fun and easy" to understand for people of all ages, Steinwold says, which lowers the barrier of entry to enter its ecosystem. Blockchain-based gaming, or games that integrated tokenized assets on-chain, grew 2,000% last year, per a Q1 2022 DappRadar and Blockchain Gaming Alliance <a href="https://dappradar.com/blog/dappradar-x-bga-games-report-q1-2022" target="_blank" rel="nofollow noopener sponsored">report</a>. With massive growth in NFTs comes bad actors, which present plenty of obstacles to mainstream adoption.Critics are wary of the ecosystem due to security concerns, scams, and money laundering allegations. Earlier this month, Yuga Labs, creator of Bored Ape Yacht Club, <a href="https://www.coindesk.com/business/2022/06/04/yuga-labs-confirms-discord-server-hack-200-eth-worth-of-nfts-stolen/" target="_blank" rel="nofollow noopener sponsored">said</a> its Discord server had been compromised, with a hacker draining $360,000 worth of ether-based NFTs at the time. In January, anonymous founders of an NFT collection called <a href="https://blockworks.co/nft-creators-stole-1-3m-from-investors-then-vanished-sources-say/" target="_blank" rel="noopener">Frosties vanished</a> after siphoning $1.3 million worth of funds from its investors."Money laundering, and in particular, transfers from sanctioned cryptocurrency businesses, represents a large risk to building trust in NFTs, and should be monitored more closely by marketplaces, regulators, and law enforcement," blockchain research firm Chainalysis said in a <a href="https://www.thestreet.com/crypto/ethereum/more-people-are-falling-prey-to-scams-and-wash-trading-in-the-nft-space" target="_blank" rel="nofollow noopener sponsored">recent report.</a>Whether you love them or hate them, NFTs don't seem to be going away anytime soon. Investment bank Jeffries <a href="https://www.coindesk.com/business/2022/01/20/jefferies-sees-the-nft-market-reaching-more-than-80-billion-in-value-by-2025/" target="_blank" rel="nofollow noopener sponsored">forecasts</a> a massive percentage growth in the next five years, along with a market cap of over $80 billion by 2025.This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment, or other professional for advice on matters that affect you and/or your business.

The future of NFTs, according to top crypto VCs and Web3 founders

<ul class="summary-list"><li>Singer Akon told <a href="https://www.esquireme.com/culture/interviews/akon-my-next-album-is-going-to-be-an-nft-album">Esquire magazine</a> he will release his next album as an <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword>. </li><li>He said NFTs offer artists an opportunity to take in a bigger share of profit from their work. </li><li>The "Smack That" singer has also been working on creating a cryptocurrency and a sustainable city in Senegal. </li></ul>Multi-platinum singer Akon, whose megahits include "Smack That," told <a href="https://www.esquireme.com/culture/interviews/akon-my-next-album-is-going-to-be-an-nft-album">Esquire magazine</a> he plans to release his next album through a non-fungible token, or NFT. "Throughout my career, I have always believed that artists never really got their fair share of the profits for the work they produced and people listen to," the "Lonely" singer said in an interview published on Esquire's website. In recent years, artists have complained that music streaming services don't pay them enough for their songs.But Akon said NFTs – or digital representations of music and other collectibles – offer full transparency about where a piece of music is being played, who's playing it, and how many times it's been played. "With that, I'll be able to monetize it from the day it drops on every platform that exists," he said. Such a move would extend Akon's involvement in the world of digital assets. He's started work on building his cryptocurrency, <keyword id="12940436" type="UNKNOWN" weightage="60" keywordseo="akoin" source="Orion">Akoin</keyword>, which he envisions will fuel his plan to build a $6 billion sustainable <a href="https://www.businessinsider.com/category/smart-cities">smart city</a> in Senegal called <a href="https://akoncity.com/">Akon City</a>. He <a href="https://www.businessinsider.com/akon-city-smart-city-senegal-akoin-2020-9">told Insider in 2020</a> he wanted residents to be able to use <a href="https://cointelegraph.com/news/akoin-co-founder-explains-how-6b-futuristic-akon-city-will-work">Akoin to pay for basic utilities, taxes and other services. </a>The musician said the idea behind Akoin, which stands for "African coin," was to introduce it into the African market as a vehicle to create financial opportunities, particularly with young people.The <keyword id="11985121" type="UNKNOWN" weightage="60" keywordseo="nft-market" source="Orion">NFT market</keyword> as a whole boomed in 2021, with blockchain analytics firm Chainalysis estimating <a href="https://markets.businessinsider.com/news/currencies/nft-market-41-billion-nearing-fine-art-market-size-2022-1">the market surpassed a $41 billion valuation</a>.

Grammy-nominee Akon will sell his next album as an NFT to 'monetize it from the day it drops,' report says

Good morning and welcome to your weekday morning roundup of the top stories you need to know.For more daily and weekly briefings, <a href="https://www.businessinsider.com/subscription/newsletter">sign up for our newsletters here</a>. What's going on today:<ul><li>Biden says he'll pay for new infrastructure and healthcare bills by taxing corporations and the wealthy. <a href="https://www.businessinsider.com/biden-wants-pay-for-spending-with-new-taxes-rich-corporations-2021-4">The prez promised no new taxes for anyone making less than $400,000, and is proposing to raise funds by nearly doubling the capital gains tax and increasing the marginal income tax rate for the country's wealthiest taxpayers.</a></li><li>Virginia police officer William Kelly was fired for donating to Kenosha shooter Kyle Rittenhouse's legal defense fund. So a Christian crowdfunding site stepped in and <a href="https://www.insider.com/christian-site-raised-thousands-for-cop-fired-donating-kyle-rittenhouse-2021-4">raised nearly $50,000 on Kelly's behalf. </a></li><li>A pill to treat COVID could be ready by the end of 2021. <a href="https://www.insider.com/pfizer-ceo-pill-to-treat-covid-ready-by-end-2021-2021-4">The pill could cut down on hospital stays, according to Pfizer CEO Albert Bourla, who said the pharma company is currently conducting clinical trials on the drug.</a> </li><li>It's Britney, bitch: <a href="https://www.insider.com/britney-spears-will-speak-at-june-conservatorship-hearing-in-la-2021-4">Britney Spears will personally address the court at the next hearing over the conservatorship of her estate.</a> Spears wants her father, Jamie Spears, who was appointed conservator in 2008 after she had a breakdown, to be removed as guardian of her affairs.</li><li>A newly unearthed 2013 video of NRA leader Wayne LaPierre shows him shooting several times at an endangered elephant but failing to kill it. After repeatedly shooting the animal at close range, a guide steps in to make the kill. The video was shot as part of an NRA-sponsored TV show <a href="https://www.businessinsider.com/video-shows-nra-wayne-lapierre-repeatedly-failing-to-kill-elephant-during-hunt">but was shelved after the organization realized it might cause a public relations crisis.</a></li><li>A New York Post reporter resigned after being "ordered" to write an "incorrect" story claiming copies of Vice President Kamala Harris's children's book being given out at migrant shelters. <a href="https://www.businessinsider.com/new-york-post-reporter-resigned-says-ordered-false-story-migrant-2021-4" target="_blank" rel="noreferrer noopener">"The Kamala Harris story - an incorrect story I was ordered to write and which I failed to push back hard enough against - was my breaking point," tweeted reporter Laura Italiano on her departure from the tabloid.</a></li><li>The internet's favorite "Disaster Girl" cashes in on the NFT craze. <a href="https://www.insider.com/disaster-girl-made-half-million-selling-her-meme-as-nft-2021-4">Zoe Roth, the now-21-year-old star of the Disaster Girl meme, sold a non-fungible token of her iconic image for nearly $500,000 in cryptocurrency.</a> She's on fire! That's all for now. See you tomorrow.</li></ul>

Ether beat bitcoin as the most donated cryptocurrency for the first time in 2021, data shows

<ul class="summary-list"><li>The <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> market can potentially grow bigger and "more fluid" than <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>'s, "Shark Tank" investor <keyword id="12002052" type="UNKNOWN" weightage="60" keywordseo="kevin-oleary" source="Orion">Kevin O'Leary</keyword> told CNBC. </li><li>He says the ability of NFTs to serve as proof of ownership for physical items can fuel the market's growth.</li><li>Chainalysis said the NFT market in 2021 soared to $41 billion in value. </li></ul>The market for non-fungible tokens, or NFTs, holds the potential to outstrip that of <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> because they can serve as proof of ownership for property, <a href="https://www.cnbc.com/2022/01/05/kevin-oleary-on-why-he-thinks-nfts-will-become-bigger-than-bitcoin.html">"Shark Tank" star investor Kevin O'Leary told CNBC</a>. "You're going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just bitcoin alone," he said Wednesday on CNBC's "Capital Connection" program. NFTs are digital representations of collectibles such as art, and O'Leary sees them capable of certifying ownership of real-world items such as watches and cars. "We'll see what happens, but I'm making that bet and I'm investing on both sides of that equation," he said. The NFT market's value swelled to <a href="https://markets.businessinsider.com/news/currencies/nft-market-41-billion-nearing-fine-art-market-size-2022-1">$41 billion in 2021</a>, blockchain data company Chainalysis said Thursday in updating a previous report. Trading surrounding NFTs exploded during 2021, with milestones including the <a href="https://www.businessinsider.com/beeple-nft-mike-winkelmann-digital-art-christies-2021-3">$69 million sale of NFT artwork by auction house Christie's</a>. Meanwhile, bitcoin's valuation soared beyond $2 trillion during 2021, but has since pulled back and was around $821 billion on Thursday, undergoing a big selloff in recent sessions. O'Leary <a href="https://www.cnbc.com/2019/05/14/mr-wonderful-kevin-oleary-calls-bitcoin-garbage.html">in May 2019 called bitcoin "garbage"</a> but he <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-crypto-holdings-10-bitcoin-ether-usdc-2021-11">has since added the cryptocurrency to his portfolio</a>. He's also said he has holdings in companies that are developing <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> products such as decentralized wallets.

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Rep. Anna Eshoo urged Nancy Pelosi to change the crypto tax language in the infrastructure bill - and there's now a NFT of her letter

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Budweiser is getting in on the NFT craze with its 'Key to the Budverse' line of ethereum-based collectibles

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