What is Netrunner?

Netrunner is developing the first NFT-focused tax reporting dApp

Filing tax returns is everyone’s obligation, even in the non-fungible token (NFT) world, and it should include the complete documentation of income, expenses, and other important financial information. The task appears to be quite challenging to some individuals because it may require a considerable amount of data on a report that could be too time-consuming to create.

The difficulties traders face in filing tax returns are solved with the help of decentralized applications (dApps) in the Web3 space, making things easier. Recently, traders welcomed one of the most awaited projects that provide this advanced solution—Netrunner. 

Background

Different government bodies announced that they would strictly check traders who file their tax returns and will track active users, wallet addresses, and exchanges. From the user’s perspective, this can be a strenuous activity. Project Netrunner was advanced in providing solutions in this aspect. Thus, making the process easier to do. 

Netrunner’s project team is composed of four experienced individuals headed by Meathead, the founder; Brisk, a co-founder; Neuromind, an artist; and Moocow, a developer. They all share one mission: to use their experiences to make a better Web3 space.

What is Netrunner?

Netrunner is developing the first NFT-focused tax reporting dApp that initially supports users from four countries: Australia, the USA, Canada, and the UK. The project includes a portfolio tracker where its users can check the value of their portfolio, monitor staked NFTs, and track profit and loss.

Netrunner has a total of 4,646 CyberPunk NFTs. It comprises different rarity levels with attributes such as arm, background, character, desk item, helmet, screen, and sword. The Netrunner NFT holders have unlimited access to the project’s tax reporting and portfolio tracking dApp. With Netrunner, art meets utility. 

Road Map

As explained in the project’s roadmap, the team’s strategic plans will still change depending on the requirements to accomplish predefined objectives: to build a portfolio tracker and tax reporting tool while providing value to holders.

The core team of the project has already finished two activities in the roadmap: minting and beta testing. On the other hand, activities like accessing the platform on the mainnet, continuous developments and updates, onboarding of new users, monetizing the platform, and adding new analytics tools are still in the process. All these are only preliminary plans, and the project can grow much more in the coming months.

DAPP Features

The dApp features of Netrunner primarily focus on providing the Solana NFT holders the information they need regarding assets. Its features include an analytics dashboard, which has different capabilities for easier tracking of the wallet; portfolio and rarity values for pattern observation and growth rate assessment; and profit and loss calculation, which helps determine one’s financial position.

Additionally, traders do not have to worry about producing reports for tax purposes because it has been made easier. The platform includes information regarding one’s return on investment (ROI) to let the users see their potential benefits relative to the mint or purchase. Traders may also monitor the staked NFTs and unclaimed rewards. Lastly, floor price alerts are added to the features, making opportunities easier to be seen. The core team promises all these features to be seamless in any way possible. 

Netrunner NFTs 

The Netrunner NFTs are composed of different designs in an advanced-looking world. It shows a wide variety of lit-up colors that explodes wonderfully in the eyes of those who will see it. The community positively receives the NFTs, all made in high resolution, making them perfect for a full-sized artwork. 

Netrunner continues to excite the community with its newly-released artist model featuring Tesla, a desk item as one of the attributes. It has 31 out of 4,646 units made, but this is only a tiny portion of the parts to see in the available marketplaces. There are still many artworks to choose from that can capture one’s attention.  

Mint Funds Allocation

All the gathered funds from minting are allocated differently depending on the project’s assumed priorities. The mint funds are allotted to three distinct parts with 50% for future dApp developments; 30% for the team, covering backdated build and operational costs; and 20% for the decentralized autonomous organization (DAO) treasury wallet, ensuring holder benefits.

What makes Netrunner Popular?

The project’s growth became unstoppable from its first launch, attracting more collectors to dive in. Here are some reasons why:

Twitter Engagement

Netrunner’s Twitter account gained almost 6,000 followers in two months. Since then, the NFT holders have not stopped tweeting their collections. The community’s word of mouth has widely spread, making the community active. On the 9th of July 2022, Netrunner celebrated two significant achievements: the top Solana NFT collection by daily volume and the most popular daily collection on Magic Eden.

Creativity and Utility

Two particular words can describe project Netrunner: useful and creative. The project shows its advantage over other emerging NFTs by providing a solution to a significant problem: the tedious process of filing tax returns. With this step, collectors appreciated the utility of the project. On the other hand, the creatively-made NFTs serves as a beautiful collection and asset that can bring opportunities to its holders. In combining these two, the project was quick to dominate others in just a short period. 

Where to Buy Netrunner NFTs?

Netrunner NFTs are available at Magic Eden. It has 389 units of NFTs listed out of the 4,646 total supply. The marketplace also posts auctions for selected items. Additionally, collectors may also buy from Hyperspace, another marketplace for NFTs. It has 400 listed NFTs. Both marketplaces show attribute levels, floor prices, and analytics that can help potential buyers make decisions.

Conclusion

Netrunner understood the assignment of being distinct in the fast-changing NFT world. The community has something to look forward to with the project being the first NFT-focused tax reporting dApp, having a clear roadmap, and an experienced team. However, as the community is quick to find more opportunities, the project must not be stagnant in development. Thus, making the project worthy of being in a well-established position.