Welcome to another edition of the Weekend Degen Report.
What to expect: 826 words a 4-minute read.
TLDR: Create an indie film to save on taxes, Skulls of Luci popped off, Xcopy went hard in the paint this past week.
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Creative Corner
GM GM. Nothing major happening on this front. I switched over to Linktree for my link aggregator vs linq. Go check it out. The transition made sense mostly from how more powerful the tool was vs my previous one from a content perspective.
I finally began working on my Oncyber gallery, Galeria Degen which is still in progress but you can check out here if you would like to see what I have collected since I joined the space.
Over in my Discord server, Rezva and Seattledog both won giveaways this past week. Thanks all who joined. Be sure to stay tuned as, as I will giveaway some more stuff soon, including from an artist than ends with “crece”.
Knowledge
As always, everything you read here is for entertainment and not financial or legal advise. With that said, something I have been tossing around in my head as the tax deadline has passed is. What is a way to limit my tax burden if you struck gold in cyrpto (over 100k in a short period)?
I was recently reading a law article and came across an interesting article. It talked about Section 168k which replaced section 181. For those unaware of section 181, in gist you can deduct a certain % of expenses incurred for the production of a movie or tv show (the scope is pretty broad btw). So assuming you had a 1million dollar tax burden, you could theoretically offset some of it by investing some money into a film and this isn’t when the movie launches or it starts filming, you can offset this the moment you wire the money. There was some caps and limitations but this new amended version is more convoluted (better for us) and the caps and limitations were removed or expanded. There are companies out there that specialize in connecting you with film makers of all budgets, so something to keep in mind.
NFT Space
On a personal note, this past week I won a raffle for “Horizon” by Ripcache. I have been wanting a Ripcache piece for a hot minute and I still remember the excitement of when they were announced as an Alphadoggg artist, so it was a very surreal moment for me. IRL this past week was not a good one, so this brought some joy to me.
I’ll be honest, I wasn’t too familiar with Skulls of Luci before this past week. I had some basic understanding and information. Mostly I knew as the pfp Adam/@Rhynotic rocked for a bit. But reading this thread (highly suggest reading) by Sam Spratt made me appreciate the story and lore behind them all.
Doodles had a weird couple of 48 hours. On one hand, Pharrell Williams tweeted the below image and that was he was involved in an airdrop with the team. On the other hand, a known pump and dumper swept 50+ doodles in a short period of time on blur and once they have extracted what they wanted they could send the price lower than the 2.8eth that it is now.
This past week we also had a flurry of Xcopy collabs (did any of you manage to snag any?). This link summarizes them nicely but also thank you to Kevbot for helping me. My favorite one is the Spellamin, what about you guys?
Notable Sales
Speaking of, shortly after that thread. The Gravity of Midas Sold from Cozomo_de_Medici to OSF for 77.69Ξ ($151,720 USD).
Upcoming
I am keeping tabs on this remaining xcopy collab that has not dropped yet from what I can tell. This is also another one of my favorites he remixed. The original was from an artist named Axstone and the colors on this one pop, hoping I can get my hands on this one if it drops.
Meme Of The Week
Speaking of taxes, I found this one below on Instagram and it gave my a good chuckle. Need to start teaching them early haha.
Fin
Hope you all have a great week! If you would like to get premium for one year, leave me a rating below. First one gets the sub for one year free.
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