Coinbase-Launched Advocacy Group Stand With Crypto Creates $6 Million NFT Legal Defense Fund
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September 14, 2024
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Stand With Crypto Launches $6 Million Legal Defense Fund for NFT Projects
According to Cointelegraph, the political advocacy group Stand With Crypto, led by Coinbase, has launched a legal defense fund for NFT projects. The fund, named "Creator Legal Defense Fund," is backed by venture capital firm a16z and NFT marketplace OpenSea, with a total of $6 million in funding.
The fund is also supported by law firms such as Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP, according to the Stand With Crypto website.
Previously, a16z crypto contributed $1 million to jointly establish a creator defense fund.
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