🚨 Musician makes $3M in NFTs. Loses it ALL to TAXES and Market Crash!!

Jonathan Mann sold 3,700 songs as NFTs for $3 million. Then the crypto market nuked, taxes hit hard… and poof - it was gone.

Here’s the brutal part:

The IRS doesn’t care what your ETH is worth now. They tax it based on what it was worth when you received it. So when ETH tanked post-sale, Mann still owed $1.1M in taxes… on phantom gains.

No exit plan. No tax strategy. Just vibes and blind hope. He even took a loan against ETH on Aave to avoid selling low. But when Terra collapsed, so did his collateral - 300 ETH vanished in a liquidation cascade.

In the end, one rare Autoglyph NFT saved him from the IRS. Sold for $1.1M. Covered the tax bill. But the $3M dream? Gone.

And yet, Mann’s still writing songs. Still minting NFTs. Because in crypto, you only lose if you quit. Want the real lesson here? Profit is just numbers until you cash out and cover taxes. Make money. But make a plan too.

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