Coinbase-Led Advocacy Group Launches Authorized Protection Fund for NFT Tasks – BitRss – Crypto World Information
A digital belongings 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 in opposition to “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 in opposition to “public policy failures and bad-faith attacks on those looking to build on blockchain technology.”
“This partnership is about defending artists and creators who search to harness the facility of blockchain know-how whereas galvanizing the crypto neighborhood to advocate for our collective rights…
Artists, creators, and builders who’ve been contacted by the SEC or who’re involved about potential litigation as a consequence of their use of blockchain know-how can apply for illustration.”
Coinbase launched the Stand With Crypto advocacy group in August 2023 to assist the digital belongings trade deal with instantly partaking with lawmakers and the legislative course of to make sure the way forward for crypto within the US.
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