Unsellable - Instantly sell your worthless NFTs, harvest the losses | Product Hunt

Sell Your Worthless NFTs, Harvest the Losses

Instant Liquidity for NFT Tax-Loss Harvesting
🔒
Verified + Audited Smart Contract
🚀
Low-Cost Bulk Transactions
✔️
CPA-Ready Receipt
Supports ERC-721 + ERC-1150
Please consult with a tax professional. Every tax situation is different, and this is not individual tax advice.
Primatey #523
Floor Price
< 0.01 ETH
Best Offer
---
Last Sale
9 months ago
Moonbird #432
Floor Price
< 0.01 ETH
Best Offer
---
Last Sale
8 months ago
Tax Bill
Capital Gains
$
Capital Gains
$
Salary
$
Sell NFT for Writeoff
($)
Sell NFT for Writeoff
($)
$
$
$
Verified and Audited Smart Contract
As Featured In
AriseHealth logo2020INC logoEphicient logoOE logoOE logoOE logo

Consult with an Experienced Tax Professional

Every NFT and crypto investor needs guidance from a knowledgeable Tax Lawyer & CPA.

We work with the tax professionals at Gordon Law Group.

They can help you craft your tax strategy, unlock deductions, and keep your taxes clear and legitimate. Learn more about a 30 minute consultation with an experienced NFT & Crypto tax professional.

LEARN MORE

Find the perfect Crypto-capable CPA.

We’ve connected with a list of vetted experts with up-to-date knowledge and focused experience on crypto tax optimization.

VIEW LIST

Handle your own taxes like a rockstar.

Handling your taxes on your own? After trying out all the crypto tax accounting softwares on the market, we’ve vetted the best of the best to make life easier for you.

VIEW LIST

Understanding
Tax-Loss Harvesting

Tax-Loss Harvesting is the timely selling of securities at a loss in order to offset the amount of capital gains tax due on the sale of other securities at a profit.

This strategy is most often used to limit the amount of taxes due on short-term capital gains, which are generally taxed at a higher rate than long-term capital gains.

However, the method may also offset long-term capital gains. This strategy can help preserve the value of the investor’s portfolio while reducing the cost of capital gains taxes.

Dan used Unsellable.

Dan bought 23 NFTs from 6 different collections from late 2020-early 2022. Of the 23, 2 went up in value... substantially. The other 21 have gone down, and 15 of them are illiquid - there are no buyers whatsoever, and the project founders have abandoned the project.

Dan used Unsellable to liquidate his 15 worthless NFTs, and worked with his CPA to write down $3,713 by realizing his losses from those investments. Dan ended up getting taxed at roughly 34%, so Dan's tax-loss harvesting strategy saved him $1,262 on his tax bill.

Tax Savings Estimator

Let’s take a look at what you might be able to write off your taxes this year by harvesting your NFT losses with Unsellable. 

Enter the number of NFTs you want to sell, and the total amount paid for the batch you are selling, to estimate your total loss.

Enter the Federal + State tax rate you’d expect to pay, and voila! Your estimated tax savings!

Want more than just an estimation? Talk to your CPA for personalized tax advice and savings estimates.

Please consult with a tax professional. Every tax situation is different, and this is not individual tax advice.

Frequently Asked Questions

What types of NFTs do you support?

Unsellable supports NFTs on the Ethereum blockchain (ERC-721 + ERC-1155), by far the most popular chain for NFTs, with other blockchains coming soon! 

How many NFTs can I sell at once?

You can sell up to 1,000 NFTs in a single transaction. If you need to sell more than that (you poor soul) it’s no big deal - you can just start a second transaction! 

Will this count as a Tax Write-Off?

If you purchased your NFT for more than $0.01, selling it to Unsellable will almost certainly qualify for a tax write-off. You may be able to use that write-off to lower your taxes this year; if not, you can always roll it over to lower future tax bills as well.

Whether or not that write-off lowers your tax bill this year depends on the many other factors that affect your tax burden, such as income, capital gains, and other expenses. Everyone's tax situation is different, and we suggest speaking with a tax professional to understand the best way to optimize your specific tax situation.

How are platform fees calculated?

Each transaction is subject to a platform fee. You’ll pay 0.0033 ETH per NFT, plus gas.

Have a ton of NFTs? Our smart contract optimizes for the lowest platform and gas fees possible by allowing you to harvest multiple collections all at once, and up to 500 NFTs in a single transaction. You’ll never pay more than 0.08 ETH plus gas, no matter how many NFTs you are selling in a single transaction.

How much will I get for my NFT?

You’ll receive 0.000007 ETH (roughly $0.01) for each NFT you sell - the amount of ETH you receive will vary based on the current exchange price USD - ETH, but it is targeted to $0.01. You’ll receive a receipt at the end of your transaction that you can use to show your capital losses to your accountant or enter the loss into the tax software you use.

Can I buy my NFT back after I sell it?

We can’t guarantee that you will be able to buy your NFT back after selling, because that would prevent your sale from counting as a tax deduction. We do this to ensure that your sale is legitimately a true "arm's length transaction", and to avoid any conflict of interest that would come from providing future economic benefit to the seller.
However, you can at any time bid on any NFT in The Unsellable Collection via OpenSea and we will at times accept those bids. This can be on an NFT you have sold or another NFT you discover and want to purchase.

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