This all sounds like a government conspiracy to monetize everything under the sun. Technically, every transaction is a taxable event and you are responsible to pay taxes on income and gains. The IRS can't keep up with the cash economy of everyday transactions which are not booked by some company, but they'd like to. Janet Yellen would like an electronic file including all transactions for every person who cycles $10k through a bank account so she could track the underground economy. Computers could do that overnight, every night. So the local kid that cuts lawns for $15 skates on paying taxes because he gets paid in dribbles, but has a bank account to cash checks. He nets a couple thousand a summer and his account is too small to pay the IRS to check it out. That is, until a sort of his customer's accounts turns up the payments made by his six customer's that flowed into his account. The IRS can send him a bill for unpaid taxes & penalties without an agent lifting a finger. The city & state can piggyback on that electronic file, too. The taxpayer can always dispute the tax, all you have to do is jump through a couple dozen hoops and you're home free, maybe. Babysitters, the local handyman, snow shovelers, the minor elements that keep society on an even keel will get priced out of the market just like the kids that used to work in every shop. Every business used to have a kid that ran errands, swept the floor, did odd jobs working after school for not a lot of money. You can't hire them anymore because you have to pay Workers Comp, state and federal Unemployment Insurance, Medical benefits, and the minimum wage so it's not worth it to hire a kid, you just have the workers do it themselves. It's inefficient and most would rather not, it's nice having a kid to do bullshit jobs. So ambitious poor kids can't get those kinds of jobs anymore, and society loses the opportunity to train kids how to work, how to get along with fellow workers, earn some money and manage their money, time, and life in general.
Create an electronic file of NFT ownership and the same process will evolve. Every time ownership turns over, the gov wants its cut. You think that you are buying proof of insurable value? That's a definite maybe, -if you buy from a certifiable seller, probably. But if you think that the insurance company is going to take your word for it that your bonsai was worth $2k, I got big news for you. They will insist that you come up with written estimates from reputable sources, and fellow club members with no commercial history may not pass that bar. There's a lot to be said for the cash economy, -unless you're a government looking for revenue. The gov will vote yea on electronic tracking, every time.
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