​How to profit from worthless NFTs

Someone is creating the worlds largest collection of worthless NFTs.

Just like the Pet Rock, and Million Dollar Homepage before it - the idea appears stupid at first glance...

But it's actually kind of genius.

Here's how it works:

Let's say you bought $20K worth of crypto in 2019, then sold it all at the start of 2022, for $100K (giving you a tidy profit of $80K).

The taxman is going to want his cut of that profit (aka 'capital gain'), which would be 15% ($12K), for most people.

The only way to avoid this capital gains tax, is to make an equivalent capital loss.

The fastest way to do that? Sell something for less than what you bought it for.

And that's what the 'Unsellable' platform offers NFT collectors. They'll buy your NFTs (that you spent thousands on) from you, for a few dollars.

So let's say you were to have spent $12k on two NFTs - you could offload them to Unsellable for $2 a pop, and lock in a $11,996 loss...meaning you now owe the taxman 15% of $4 (60 cents).

So, what's upside for the Unsellable platform?

They're probably under paying for a lot of these NFTs as it is, and they're buying them while the NFT market is in the toilet.

With a bit of patience, they could simply wait for the market to recover, resell their collection (even at a tiny mark up), and make profit.

Smart.