This article discusses the VAT treatment of non-fungible tokens (NFTs) in the European Union. These tokens have been on the market for some time, but their trade volume has grown exponentially recently. Tax authorities have developed some interest in them as a potential new source of revenue, paying attention to their ecosystem and the parties involved. Some tax authorities have already taken a position, while others have remained silent, waiting for market developments. There are still questions to be answered on the VAT implications of NFT supplies, but initial standpoints can be taken. The European Union has already begun to work towards a common position on the VAT treatment of NFT supplies. The difficulty in determining that treatment lies in the fact that the nature of NFTs has not been defined in a harmonized way. This article intends to briefly analyse each of the VAT components contributing to this definition.