On September 14, Stand With Crypto, a non-profit organization led by Coinbase, launched a legal defense fund for NFT projects. The fund, called the "Creator Legal Defense Fund," has $6 million in funding and is supported by venture capital firm a16z and NFT marketplace OpenSea.

According to the Stand With Crypto website, the fund is also backed by law firms Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP.

The website states, "With the SEC issuing a Wells Notice to OpenSea and other attacks on artists and creators, it's clear that those who want to build on blockchain technology will continue to face significant legal threats and challenges."

Stand With Crypto says, "Today, we are raising our shields to protect the bedrock of the crypto community. Creators can now fight back against the SEC's misleading actions."