A16z, OpenSea accomplice with Stand With Crypto to create NFT authorized fund  

Andreessen Horowitz’s a16z Crypto fund has partnered with Stand With Crypto and OpenSea to create the Creator Authorized Protection Fund.

In keeping with releases from OpenSea and a16z, this initiative is designed to supply authorized help and session to artists and creators utilizing blockchain know-how, significantly these working with NFTs. 

A6z has pledged $1 million to the protection fund, becoming a member of OpenSea, which dedicated $5 million. 

NFTs have empowered artists to immediately monetize their work, preserve authenticity, and earn royalties by sensible contracts. 

Authorized challenges and help

Latest authorized challenges, together with a Wells Discover issued to OpenSea by the US Securities and Trade Fee, have raised issues inside the NFT neighborhood.

The rising regulatory stress on blockchain-based creators has made authorized help a precedence.

The fund will supply creators authorized help from companies akin to Cooley LLP, Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP.

These providers will assist artists guarantee their initiatives are legally compliant and supply protection in opposition to potential authorities actions, in accordance with a16z.

Miles Jennings, Normal Counsel and Head of Decentralization at a16z, wrote that “the fear of potential legal repercussions should not hold back well-meaning artists” from exploring new initiatives like NFTs.