Integral introduces the first real-time NFT accounting solution for web3 CFOs and accountants

SAN FRANCISCO, 1 March 2023 /PRNewswire/ – Today, Integral introduced NFT Accounting; a solution that allows NFT’s finance team to easily manage and account for NFT income and holdings. The announcement follows Integrals $8.5 million funding round led by Electric Capital announced back in September 2022.

“We created an NFT accounting solution to accelerate finance teams looking to innovate. We worked closely with the accounting teams behind world-class NFT projects such as RTFKT (now under Nike), Azuki, SuperRare and Degenerate Ape Academy to create a product that helps them to grow their business efficiently and safely Recently we rescued Orange Comet, AMC’s The Walking Dead NFT creators, an estimated $50,000 per year in cost, helping them close month-ends 4x faster,” said Gui Laliberté, CEO of Integral.

“World-class brands like Nike, Starbucks, Tiffany, Gucci, Porsche and many more are jumping into NFTs to grow their communities and digital presence. The problem is that NFTs can be a real obstacle for finance and accounting teams. We want to solve the problem so more people can innovate with confidence in web3.”

Integral’s new product targets CFOs and accountants who need to manage digital assets such as NFTs. NFT Accounting focuses on efficiency, transparency and compliance:

Closing the months 4 times faster

• Automation Center: An intuitive way to create revenue categorization rules across NFT collections, NFT marketplaces and NFT tokens.
• Income recognition: Automated approval of primary sale (coins) and secondary sale (royalty) revenue across NFT collections and NFT tokens.
• No more spreadsheets: Save hundreds of engineering and accounting hours annually.

Unlocks real-time visibility into the company’s finances

• NFT Inventory: Real-time dashboard to track NFT assets, value and cost basis.
• NFT Navigator: An explorer for NFT activity by marketplace, collection and token ID
• NFT P&L: Real-time display of realized and unrealized gains.

Lays the foundation for the right match, simple

• Tax lottery: Individual drill-down to get a full overview of how gains/losses are calculated.
• Reports: Flexible reporting on all NFT activity, closing positions, returns and more.
• Exporter: Robust record keeping that can be used in future audits.

Web3 managers using the platform see Integral NFT Accounting as a must-have:

“I finally have a single source of truth for crypto FP&A, creates better visibility across my organization and saves us tens of hours of time-consuming (and tedious) work each month.” — Nikhil GopalaniCOO at RTFKT (now under Nike)

“Working with the Integral team has been great in helping us create efficiency and scale. I see Integral as a key part of the financial technology stack for web3/blockchain companies.” — Eric NakamuraCFO of Orange Comet

“The robust reporting of Integral has given us visibility into our revenue streams, including royalty revenue from the secondary market. Digital Asset revenue and royalty revenue is critical data for our IP partners. Integral’s platform gave us real insight and data into all of our revenue streams.” — Eric NakamuraCFO of Orange Comet

“After speaking with web3 executives, it was clear that our solution really aligned with what they needed,” says Laliberté, “We’re ecstatic to roll this out more broadly to help support the web3 accounting ecosystem even further more.”

Availability

Integral’s NFT Accounting is now publicly available to NFT teams. CFOs, accountants and founders/operators can register by visiting or by contacting sales [at] integral.xyz

About Integral

Integral is web3 CFO’s most powerful tool. We help finance teams automate crypto accounting, manage crypto treasury, calculate capital gains/losses, integrate with ERPs and more.

Integral is trusted by the accounting teams of world-class web3 organizations, such as RTFKT, Azuki, Orange Comet and many more. The platform has helped companies reconcile $10 billion in crypto accounting transactions only in the last 7 months.

SOURCE Integral Treasury