Web3 Gaming in Spain: Tax Guide for Players with Real Income

Blockchain games (play-to-earn, play-and-earn) allow players to earn cryptocurrencies and NFTs with real value while playing. In Spain, these earnings are subject to specific tax treatment depending on the type of activity and the volume of income.

Web3 Gaming Models

Classic Play-to-Earn (P2E): Axie Infinity

• Earn SLP tokens by winning battles.
• Axie NFTs are bought, bred, and sold.
• Earnings from playing can be the primary source of income for some (especially in developing countries).

Play-and-Earn: Pixels, Parallel, Illuvium

• The game includes entertainment components in addition to earning.
• Earn tokens by playing, completing missions, owning NFT land, etc.

Full Onchain Games (FOCG): Eternum, Dark Forest

• The game state lives entirely on the blockchain.
• Earn onchain resources that have economic value.

Taxation of Tokens Earned from Gaming

Occasional (Recreational) Player

• Earn tokens by playing, but in small amounts.
• No organization of resources or systematic activity.
• Taxation: General taxable base (GPO) for each token received (value in EUR at the time of receipt).

Regular Player with Significant Income

• Play several hours a day, and tokens are your main source of income.
• Systematic activity with the use of resources (hardware, dedicated time).
• Taxation: Economic activity → income from economic activities in the general taxable base.
• Obligations: Register as self-employed (if income exceeds the minimum wage), VAT (if applicable), form 036.

What is the threshold? There is no exact figure, but earning over ~€12,000/year from systematic gaming is a sign that the AEAT may reclassify it as an economic activity.

Taxation of NFTs in Web3 Gaming

Purchasing NFTs for Gaming (e.g., character, weapon, land)

• Buying an NFT with ETH → transfer of ETH (GPO) + acquisition of the NFT at its cost in EUR.
• The NFT has an acquisition cost in EUR.

Selling Game NFTs

• Difference between the sale price and acquisition cost → GPO in the savings base.

NFTs Crafted Within the Game

• If the game allows "crafting" NFTs using in-game resources:
  • The acquisition cost of the crafted NFT = value of the resources used in EUR.
  • If the resources were tokens earned from playing (GPO general base) → their value when used is the cost of the crafted NFT.

Land NFTs with Income Generation

Some games (Sandbox, Decentraland, Pixels) have "land" that generates tokens passively:

• Tokens generated → investment income or economic activity (if the landowner actively manages it).
• Sale of the land → GPO on the difference.

The Double Layer: Game Tokens vs Stablecoins/ETH

Many games have internal tokens (non-transferable) that are converted into external tokens. Taxation occurs when:

1. You receive an external token (listed on exchanges) for the first time → GPO at market value.
2. You spend external tokens to make in-game purchases → token transfer.

Web3 Gaming Tournaments and Prizes

If you win a Web3 gaming tournament with crypto prizes:

• The prize → GPO general base (similar to a lottery prize, but crypto has no special exemption).
• If the tournament is organized by a Spanish company → that company must withhold taxes.
• If it is foreign and no withholding is applied → you declare the gross amount in your IRPF.

Scholarship System: Are You a Player or an Employee?

In Axie Infinity and other games, the "scholarship" system allows someone (the manager/owner of Axies) to lend their NFTs to another person (the scholar) to play and share the earnings.

Taxation:

• Manager: the NFTs belong to them → they earn GPO when receiving them back or selling them.
• The scholar's share (e.g., 70% of the SLP) → investment income (if passive) or employment income (if they receive instructions from the manager like an employee).

Web3 Gaming Guilds

Guilds (YGG, Merit Circle) are organizations that own NFTs and lend them to scholars. If you are an investor in a guild:

• You receive guild tokens (YGG, MC) for your investment → investment income or GPO.
• Selling guild tokens → GPO.

Obligations for Web3 Gaming Studios in Spain

If you own a Web3 gaming development company in Spain:

• Game tokens sold to players → possible economic activity subject to VAT.
• NFTs sold in the game's marketplace → VAT at 21% (or 0% depending on specific regulations).
• MiCA may impose token issuance obligations for games with large ecosystems.

Web3 Gaming Taxation Table

Updated: April 2026 | Tax Year: 2025