Coinbase-Led Advocacy Group Launches Authorized Protection Fund for NFT Initiatives
A digital property advocacy group backed by Coinbase is launching a multimillion-dollar authorized protection fund for non-fungible token (NFT) tasks.
In a brand new thread on the social media platform X, Stand With Crypto says it’s beginning an NFT protection fund with funding agency Andreessen Horowitz (a16z) and NFT market OpenSea to help artists towards “misguided” enforcement actions.
“Today, we raise our shield to protect a foundational part of the crypto community. Alongside OpenSea and A16z Crypto, we are launching a $6 million legal defense fund for NFT creators. Creatives can now stand up to misguided actions from the SEC.”
On its official web site, Stand With Crypto says that the fund goals to legally defend creators towards “public policy failures and bad-faith attacks on those looking to build on blockchain technology.”
“This partnership is about defending artists and creators who seek to harness the power of blockchain technology while galvanizing the crypto community to advocate for our collective rights…
Artists, creators, and builders who have been contacted by the SEC or who are concerned about potential litigation due to their use of blockchain technology can apply for representation.”
Coinbase launched the Stand With Crypto advocacy group in August 2023 to assist the digital property trade deal with instantly participating with lawmakers and the legislative course of to make sure the way forward for crypto within the US.
Don’t Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Value Motion
Comply with us on X, Fb and Telegram
Surf The Day by day Hodl Combine
 
Disclaimer: Opinions expressed at The Day by day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses chances are you’ll incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
Supply:
