Can I purchase an NFT?

NFTs are collectibles, and collectibles have long been disallowed by the IRS as a retirement account asset class. The IRS has not yet implemented any form of regulation regarding NFTs, but it may be wise to steer clear of purchasing NFTs through your IRA as it may put the account at risk of a prohibited transaction. Common examples of collectibles – which are not allowed in IRA accounts – include art, baseball cards, vintage cars, gems, etc.