Stand With Crypto Creates $6M NFT Creator Legal Defense Fund
CryptoNewsTerminal Staff15 Sep, 2024
Stand With Crypto Creates $6M NFT Creator Legal Defense Fund
Stand With Crypto (SWC), a crypto advocacy group, has launched a $6 million legal defense fund to safeguard non-fungible token (NFT) creators, as per Daily Hodl. The fund has the backing of OpenSea, a major NFT marketplace, and a16z crypto, the cryptocurrency division of Silicon Valley venture capital firm Andreessen Horowitz (a16z). "The fund will aid NFT creators in their fight against the [U.S. Securities and Exchange Commission's (SEC)] overreach," Stand With Crypto stated. This legal defense fund comes amid the SEC's increased scrutiny of the NFT market, with concerns over potential securities violations.
