Smash news: Sandbox LAND on Polygon, ETH get tax loss and more ...

Smash news: Sandbox LAND on Polygon, ETH get tax loss and more … – Mail Bonus

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The popular Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that allows users to transfer their virtual NFT LAND and native SAND tokens to the Layer-2 network Polygon (MATIC).

Although Sandkassinn will mostly live on Ethereum, the platform has emphasized that the implementation of SAND’s and LAND transactions on Polygon will lead to lower gas fees, faster transaction speeds and greener communication on the blockchain.

The company announced on Twitter on June 29 that it was now ready to start using LAND on Polygon and users will be able to get a 10 mSAND refund worth approximately ($ 10.60) on LAND transferred to Layer 2.

mSAND is the new SAND symbol based on polygon and has the same price as SAND based on Ethereum. As part of the bridge’s launch, The Sandbox will soon release two staking programs for LAND and mSAND, and a new reduction in LAND’s sales of Polygon.

The bridge to Polygon and the new targeting plans have been under construction since December 2021, and the company said in a blog post that “300,000 mSAND will be injected” into the mSand / MATIC collection pot weekly, as well as a bonus of 200,000 mSAND for the first four weeks to encourage early adoption. A specific percentage of prizes that have been wagered has not yet been specified.

According to data from CoinGecko, SAND has risen by 12.9% over the past seven days and sits at $ 1.06 at the time of writing. However, the polygonal announcement does not seem to have affected the price as SAND has fallen by 2.4% in the last 24 hours.

Stack ETH for your tax needs

Ryan Carson, founder of the NFT Enterprise Fund 121G, has achieved a “master class” by selling Moonbird NFT # 6969 for a $ 52,000 loss, according to NFT trader OxQuit, which posted a huge 74.2 ETH profit at the same time as it represented a tax write-off.

Carson, the former CEO of the Moonbirds project, originally purchased NFT for 69.49 ETH on April 16, when it was worth $ 212,000. On June 29, Carson sold NFT for 143.69 ETH, valued at $ 160,000.

Tweeting 54,900 followers on June 30, OxQuit, which appears to own the Bored Ape Yacht Club NFT, described the trip as “a masterclass on how to stack ETH at the same time as booking a tax loss”.

Not everyone agreed, however, with NFT degen HollanderAdam describing himself as saying:

“Or he just could not have bought the bird. Waited and bought 143 ETH today for $ 160k. And he had an extra $ 52k in his account. “

As things stand, Carson would need to see a 32.5% ETH price increase for his ETH hodling policy to see him back in the green, although he would still be on the hook for capital gains tax if he were to sell.

Pixels.com Introduces NFT Product Support

On June 29, Pixels.com launched a new NFT service on the print market giant Pixels.com that allows owners to copy and paste their wallet address and instantly convert their branded artwork into merchandise.

The service is built for Hodler by Ethereum-based NFT and works by enabling pixels to download the NFT artwork and then create a “3D, light realistic preview of each available product” on the website. Pixels offers customizable products, from T-shirts to canvas prints and stationery.

Printing companies are a handy tool for artists and content creators as it allows them to outsource the entire production and shipping process.

BAYC Frame Print: Pixels.com

Snoop Dogg says the cryptic winter is “great”

The iconic rapper and avid NFT collector Snoop Dogg has expressed gratitude for the current cryptic winter, as he is flushing out bad players in space and will lead to “great things” going forward.

Speaking to CNBC on NFT.NYC last week, Snoop said the current bear market had “cleaned out all the people who were not supposed to be in the room and who were abusing the opportunities that were available.

Connected: Bear market will last until cryptocurrencies are really useful: Mark Cuban

The rapper went on to suggest that most of the projects and companies that survive the carnage will mainly offer good products:

“Now it will start a great business, and when the market comes back, it will just be great to choose from.

Other great news

Blockchain analytics firm Flipside Crypto has launched an online software development kit (SDK) called ShroomDK, which is based on inflexible symbols (NFT) and provides an automated way to extract “comprehensive” blockchain data through software.

Catalan innovation director Daniel Marco has revealed that the government is working to build a Catalan metaverse called Cataverse.