Non-Fungible Tokens, or NFTs, have been hailed as the next great innovation in cryptocurrency or derided as a 21st Century Ponzi scheme masquerading as art. Regardless of what they are, the creation and sales of NFTs pose several challenges for taxpayers seeking to comply with the tax law accurately. This program will examine the properties of popular NFTs and apply tax fundamentals to the multitude of taxable transactions that occur during the life cycle of an NFT.