Sun, September 15, 2024 at 18:50

• 

  Joy

  • Hey Annie!

  • Guess what?

  • Coinbase is backing a huge legal defense fund for NFT projects!🚀

  • 
• Annie

  • Oh really?

  • That sounds interesting!

  • What's the fund for?🤔

  
• 

  Joy

  • So, it's called the Stand With Crypto fund, and it's launching with $6 million to help NFT creators against misguided enforcement actions from the SEC.

• Annie

  • Wow, $6 million!

  • That's a lot of money.

  • Who else is involved in this?💸

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Yeah, it's a big deal!

  • They're partnering with Andreessen Horowitz (a16z) and OpenSea to make this happen.

  • Pretty cool, right?

• Annie

  • Definitely!

  • But why do NFT creators need this fund?

  • Are they in trouble?😟

  
• 

  Joy

  • Well, some creators have been facing legal challenges from the SEC.

  • This fund is meant to protect them from what they call 'misguided actions' and 'bad-faith attacks.'

• Annie

  • I see.

  • So, it's like a shield for artists using blockchain technology.

  • How can they get help from this fund?🛡️

  
• 

  Joy

  • Exactly!

  • Artists, creators, and builders who have been contacted by the SEC or are worried about potential litigation can apply for representation through this fund.

• Annie

  • That's really reassuring for them.

  • When did Coinbase start this advocacy group?🤓

  
• 

  Joy

  • Coinbase launched the Stand With Crypto advocacy group in August 2023.

  • It's all about engaging with lawmakers to secure the future of crypto in the US.

• Annie

  • Ah, so it's pretty recent.

  • Do you think this will have a big impact on the crypto community?🌐

  
• 

  Joy

  • Absolutely!

  • This fund not only helps individual creators but also galvanizes the entire crypto community to advocate for their collective rights.

• Annie

  • That's really inspiring.

  • Do you think this is good news for the market?📈

  
• 

  Joy

  • For sure!

  • It's a huge boost for the NFT and crypto space.

  • 

  • It shows that big players are willing to step up and protect the community, which can increase confidence and investment in the market.

• Annie

  • Thanks, Joy!

  • This really helps me understand the impact of this news.😊

  
• 

  Joy

  • No problem, Annie!

  • Always happy to share exciting news with you.

  • Catch you later!👋

  • To sum up, this article is considered a 😍Bullish for investors!!