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A coalition of major crypto entities, including a16zcrypto, OpenSea, and Stand with Crypto, has announced the launch of a $6 million Creator Legal Defense Fund. This fund aims to provide legal support for NFT creators and developers facing regulatory actions from the SEC. The initiative is a response to SEC Chairman Gary Gensler's recent classification of NFTs as securities, which has sparked significant backlash within the crypto community. Prominent figures such as Beeple and CozomoMedici are also mobilizing efforts to gather 100,000 signatures to demand the SEC refrain from regulating NFTs as securities. The announcement coincides with the America <3 Crypto Tour, which is engaging millions of crypto voters.
Today, we raise our shield to protect a foundational part of the crypto community. Alongside @opensea & @a16zcrypto, we are launching a $6m legal defense fund for NFT creators. Creatives can now stand up to misguided actions from the SEC. Learn more: https://t.co/8fc2YEQs80 https://t.co/dmOtoN3gbi https://t.co/PTwzaJiCIq
Midway through the America <3 Crypto Tour, engaging millions of crypto voters, @standwithcrypto, @opensea, and @a16zcrypto have launched the Creator Legal Defense Fund to cover legal fees for creators and developers targeted by the SEC 🛡️https://t.co/PL5PtWB3fT
It’s time to fight for the right to create. Today, @a16zcrypto, @standwithcrypto, and @opensea are kickstarting the Creator Defense Fund, a legal defense fund for creators using blockchain technology to connect with fans, monetize their work, and bring more creativity to the… https://t.co/TkypfnRZQz