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Celebrating “Plastic-Free July” with NFTs and Tezos Art
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Since its initial coin offering in 2017, Tezos the blockchain has become the art world’s favorite for its energy efficiency and low cost. AI artists, including Refik Anadolan internationally renowned multimedia artist, filmmaker, and pioneer in data and AI aesthetics, uses Tezos to perform peer-to-peer transactions and deploy smart contracts. The token is listed on cryptocurrency exchanges such as Tezos (XTZ).
In addition to being part of Basel Art since 2021 and collaborating with the environmental gallery Serpentine Arts Technologies Since 2023, during this Plastic Free July, for the first time, the Tezos blockchain is part of Ribela Love Nature, an outdoor sustainable techno art and music event, featuring over 100 different artworks from 30+ visual artists, 20+ NFT artworks for sale, and music in 15+ live shows and DJ sets.
Plastic Free July draws attention to the impact of plastic waste on nature. ‘Plastic-free July’ countryside was born in Australia in 2011 to draw attention to the global problem of plastic waste, which is causing serious problems for animals, nature and people’s health. The award-winning campaign is a key initiative of the Plastic Free Foundation, which works towards a vision of a world free from plastic waste, as detailed in the “2023 Impact Report”.
The Plastic Free July campaign was instrumental in the adoption of the first Treaty on Plasticsupported by 175 nations at the 2022 United Nations Environment Programme (UNEP) meeting in Nairobi. UNEP’s Intergovernmental Negotiating Committee on Plastic Pollution is still negotiating the terms of the treaty, which could therefore be implemented as early as 2025.
My Plastic Free July art exhibitions, which aim to draw attention to the harm caused by plastic pollution to marine animals, are held in two museums:
- Putnam Historical Museum: Selva Ozelli Healing Waters
- Havre de Grace Maritime Museum: Blue Loon Crabs by Selva Ozelli
In parallel with participating in the sustainable techno event, Tezos X’s vision is also announced A significant development in the Tezos ecosystem: the introduction of Jstz (pronounced ‘justice’), a JavaScript-based smart rollup that will expand and make Tezos an interoperable blockchain platform and cloud-like OP blockchain backend for all types of applications.
Scaling blockchain utility is critical to widespread adoption. After all, the fastest and most convenient blockchain is useless if people have nothing to do or nowhere to go from there. And they will only have those things if someone builds them on Jstz, an L2 rollup built on Tezos to allow developers to use JavaScript and its vast resources such as JavaScript APIs, battle-tested JS tools, npm ecosystem and libraries with the best advantages of web3, with integrated identity, wallet and payments Hello GitHub deposit.
On June 28, 2024, the U.S. Department of the Treasury and the U.S. Internal Revenue Service released final digital asset broker reporting regulations requiring broker reporting for centralized exchanges and hosted wallet providers, providing expanded rules under which transactions in digital assets, which include NFTs, will be reported in the United States. However, it shelved related rules for decentralized finance and unhosted wallets while it continues to study 44,000 comments to the agency. Defi operations and unhosted wallet providers will have to wait for their own rules later in the year.
The final regulations will take effect for transactions starting in 2025 and will require digital asset brokers to monitor the cost basis for customer tokens starting in 2026. They will also have to submit 1099-DA They present themselves like their traditional investment firm cousins, with an annual threshold of $600 on NFT earnings before they must be declared.
The final regulations provide much-needed clarity for NFT platforms on their reporting obligations, while creating transparency for both artist taxpayers and the IRS when it comes to tax filing and compliance. It is also a critical step in closing the estimated $50 billion crypto tax gap and will further legitimize digital assets. Artists will now know what they need to report for activity conducted with a digital asset brokerage NFT platform, and the IRS will know what to expect to see on tax returns.