The NFT market has had a turbulent past year. The threat of the SEC and the Howey Test are ever present, the EU's MiCa narrowly defines NFTs with fractional NFTs and large token projects at risk, the UK remaining largely unregulated aside from anti-money laundering. More and more projects are having to consider their international presence and locations in order to strive for success, but this comes with complexity and further considerations (tax, governance etc).