a16z Crypto, OpenSea and Stand with Crypto launch creator defense fund

2024-9-14 21:02

a16z, OpenSea and Stand With Crypto have launched a $6 million creator defense fund. OpenSea has pledged $5 million and a16z $1 million. The fund will support the NFT market, with this coming weeks after SEC issued a Wells Notice against OpenSea.

Venture capital firm Andreessen Horowitz is collaborating with NFT marketplace OpenSea and Coinbase-backed non-profit Stand With Crypto to launch a new fund aimed at legal defense for the crypto creator ecosystem.

On Friday, a16z Crypto, Stand With Crypto and OpenSea announced the launch of Creator Legal Defense Fund, with an initial $6 million funding. The fund targets legal protection for artists and creators, according to details the three platforms shared.

“This collaboration marks a significant milestone in our mission to empower and protect the voices of artists and creators who rely on blockchain technology,” the firms wrote.

OpenSea pledges $5 million

Creator Legal Defense Fund’s unveiling comes just two weeks after the US Securities and Exchange Commission (SEC) issued a Wells Notice against OpenSea – a leading NFT marketplace. SEC’s notice indicates the regulator is considering a lawsuit against the platform for securities violations.

Following the SEC’s Wells Notice, OpenSea issued a statement noting that it would “stand up and fight.” Co-founder and CEO Devin Finzer called the regulator’s approach shocking, with OpenSea saying it would dedicate $5 million to a fund aimed at protecting NFT creators.

On Sept. 13, the marketplace, together with a16z and Stand With Crypto unveiled the creator defense fund. a16z noted it would contribute $1 million while OpenSea pledged $5 million. OpenSea CEO commented that the fund will offer legal expertise to both creators and developers.

We’re honored to kick off the Creator Legal Defense Fund alongside @a16zcrypto and @standwithcrypto.

Every creator, big or small, should be able to innovate without fear. https://t.co/96wPpLTKjF

— OpenSea (@opensea) September 13, 2024

The fund will utilise legal experts from various law firms, including Cooley LLP, Fenwick & West LLP, Goodwin Procter LLP and Latham & Watkins LLP.

SEC and crypto crackdown

The SEC continues to attract criticism from across crypto and from US lawmakers over its regulation by enforcement approach to crypto.

On Thursday, the regulator announced a settlement with eToro. It included monetary penalty and a cease and desist order that will see the platform delist all crypto tokens except Bitcoin, Ethereum and Bitcoin Cash.

The post a16z Crypto, OpenSea and Stand with Crypto launch creator defense fund appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 19.117m EMD / 32m EMD

opensea million a16z fund crypto stand defense

opensea million → Результатов: 62


Shocking Allegations: NFT Tycoon Tied To $60 Million AnubisDAO Rug Pull

Kevin Pawlak, the former head of ventures at the NFT platform OpenSea, finds himself entangled in a web of accusations surrounding the infamous AnubisDAO rug pull of 2021. However, OpenSea maintains that there is no concrete evidence linking their former employee to the alleged misdeeds, despite recent claims circulating on social media. A thread on […]

2023-10-9 17:00


Over $16 Million Of Donald Trump NFTs Traded On OpenSea

Over 10,100 ETH worth of former U. S. President Donald Trump NFTs, translating to $16 million, have been traded, data from digital marketplace OpenSea shows on February 6. People Want Donald Trump’s NFTs The Trump Digital Trading Cards was launched in the ERC-721 format as non-fungible tokens (NFTs) deployed on Polygon by affiliates of Donald Trump, the 45th president of the United States.

2023-2-7 21:00


CryptoSlate Wrapped Daily: Warner Music partners with OpenSea, Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates

The biggest news in the cryptosphere for September 29 includes investor Stanley Druckenmiller saying cryptocurrency has a big role to play as trust in central banks declines, ZachXBT alleging that crypto influencer Lark Davis profited over $1 million from dumping low-cap crypto projects and Warner Music teaming up with OpenSea to allow artists extend their […] The post CryptoSlate Wrapped Daily: Warner Music partners with OpenSea, Druckenmiller sees ‘big role’ for cryptocurrency as central bank trust evaporates appeared first on CryptoSlate.

2022-9-30 01:31


OpenSea Fielding New Investment Offer to Send its Valuation to $10B As NFT Interest Reaches New Highs

Rising search interest in NFT suggests another wave of activity could be incoming while volume on OpenSea remains relatively stagnant though it has ticked up above $100 million. The post OpenSea Fielding New Investment Offer to Send its Valuation to B As NFT Interest Reaches New Highs first appeared on BitcoinExchangeGuide.

2021-11-18 22:21