Typically, what we recommend is just donating the proceeds of the NFT. The tricky thing about sending the NFT directly to the nonprofit is valuation and tax deductibility. So, it gets complicated with NFTs since there isn’t a lot of guidance from the IRS and other tax agencies on the tax treatment of NFTs. But it is evident when you’re just donating the proceeds because then it’s just like a regular crypto donation. So, in general, we’re saying, “Hey, if you’re an artist, a creator, please sell the NFT, then donate the proceeds directly to charity as Ether,” or whatever chain they sold it on. And that’s been popular. I mean, millions of dollars every month are being raised from this new category that we’re calling NFT philanthropy. And we even have a special day coming up next week called NFT Tuesday. So, next week, we’ll highlight all these philanthropic communities and creators and work with companies like Nifty Gateway.

CT: To follow up on that question, where do you see regulation heading in this sector?

AW: I think it will continue to get more apparent. Luckily, for crypto donations — surprisingly — that was remarkably clear for a long time already, as early as 2014. The IRS already put out guidance on how crypto donations are treated from a tax perspective. What the IRS decided in 2014 was that crypto would be treated as property. And when it comes to donating property, for crypto, it’s very similar to how crypto treats stock and other property donations because the donors don’t have to pay capital gains taxes on those donations. They get a fair market value deduction on their taxes when donating. And then for the charities, if they’re a registered charity, they’re tax-exempt, too. So, the charity isn’t paying taxes either. It’s a great win-win situation for both the donor and the charity.