A pioneering NFT gallery launched by Recap blends AI appraisals with tax tracking.
- Recap introduces a consolidated platform for NFT investors, offering AI-powered appraisals and tax functionalities.
- Investors gain access to accurate NFT valuations and projected financial outcomes through integration with Upshot.
- The platform supports over 67,000 different NFTs, with valuation in both pound sterling and native currencies.
- Recap’s initiative is set to simplify crypto tax and financial engagement for NFT investors in the UK.
Recap has unveiled an innovative platform that combines the art of non-fungible tokens (NFTs) with the critical aspects of finance, utilising artificial intelligence to provide accurate appraisals and facilitate tax tracking. This groundbreaking NFT Gallery allows investors to consolidate their assets in one place, offering a comprehensive overview of their digital wealth.
Partnering with the esteemed NFT valuation experts at Upshot, Recap ensures that users receive appraisals informed by advanced algorithms. These appraisals take into account various metrics, including order books, traits, and sales histories, coupled with social and lending data. As a result, investors are empowered to make informed decisions, knowing when to capitalise on their assets.
The gallery is distinguished by its capacity to support over 67,000 types of NFTs, offering a seamless interface for viewing digital assets. With infinite scrolling and real-time views of both static and video NFTs, even large-scale collectors can easily manage their portfolios. Significantly, the gallery presents valuation figures in multiple currencies, providing a nuanced understanding of asset value across different economic contexts.
Daniel Howitt, CEO and co-founder of Recap, highlights the challenges NFT investors face, particularly regarding the valuation process traditionally reliant on fluctuating floor prices. Recap’s advanced platform resolves these challenges, integrating tax calculations to furnish investors with complete reports and insights. This functionality not only simplifies tax reporting but aligns with emerging regulatory expectations.
The partnership with Upshot further underscores a commitment to refining the financial landscape for crypto users. By combining innovative valuation methods with robust tax tracking, Recap aims to alleviate the complexities inherent in cryptoasset management. This leads to a more transparent and efficient market, fostering confidence among investors.
Beyond technical capabilities, Recap places a strong emphasis on security and privacy, ensuring that investors’ data remains protected as they navigate the digital asset space. This comprehensive approach underscores the company’s mission to streamline the intersection of cryptocurrency and tax compliance, ultimately making it manageable for all stakeholders.
Recap’s NFT Gallery marks a significant milestone in integrating asset valuation with tax management, enhancing financial clarity for NFT investors.
