NFT artist relives ‘crypto tax nightmare’ in new song
Non-fungible token (NFT) artist Jonathan Mann, the musician behind the “Song A Day” project, has turned his crypto tax ordeal into a cautionary musical tale.
In a new track shared on X, Mann recounted how he made $3 million selling his entire back catalog as NFTs, only to see it vanish as the market crashed during the Terra ecosystem collapse.
“This is the story of how I made three million dollars and lost it,” Mann sings. “And how I owed the IRS more money than I made in 10 previous years.”
Musician owed $1.1 million in taxes on NFT sales
Mann said it all began on Jan. 1, 2022, when he sold 3,700 songs at $800 each, netting him roughly $3 million — all in Ether (ETH).
Excited but unprepared, Mann…
