2024

United

<p class="is-style-lead">Andreessen Horowitz’s a16z Crypto fund has partnered with Stand With Crypto and OpenSea to create the Creator Legal Defense Fund.</p>
<p>According to releases from OpenSea and a16z, this <a href="https://www.standwithcrypto.org/creator-defense-fund" target="_blank" rel="noopener noreferrer nofollow">initiative</a> is designed to provide legal support and consultation to artists and creators using blockchain technology, particularly those working with <a href="https://crypto.news/tag/nft/" target="_blank" rel="noopener noreferrer nofollow">NFTs</a>.&nbsp;</p>
<p><a href="https://crypto.news/tag/a16z/" target="_blank" rel="noopener noreferrer nofollow">A6z</a> has<a href="https://a16zcrypto.com/posts/article/creator-defense-fund/" target="_blank" rel="noopener noreferrer nofollow"> pledged</a> $1 million to the defense fund, joining <a href="https://crypto.news/tag/OpenSea/" target="_blank" rel="noopener noreferrer nofollow">OpenSea</a>, which <a href="https://opensea.io/blog/articles/rising-tides-lift-all-boats" target="_blank" rel="noopener noreferrer nofollow">committed</a> $5 million.&nbsp;</p>
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   <p lang="en" dir="ltr">Rising tides lift all boats.<br><br>OpenSea has pledged $5M to help cover legal fees for NFT artists and developers who receive a Wells notice from the SEC. Today, I’m pleased to announce we're taking a step further by kicking off the Creator Legal Defense Fund, spearheaded by…</p>— Devin Finzer (dfinzer.eth) (@dfinzer) <a href="https://twitter.com/dfinzer/status/1834570971971301431?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 13, 2024</a>
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<p>NFTs <a rel="noopener noreferrer nofollow" href="https://crypto.news/what-nft-why-they-rise/">have empowered</a> artists to directly monetize their work, maintain authenticity, and earn royalties through smart contracts.&nbsp;</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/binance-tokenized-rwa-market-surpasses-12b-led-by-u-s-treasuries/"> Binance: Tokenized RWA market surpasses $12b, led by U.S. treasuries </a></p>
<h2 class="wp-block-heading" id="legal-challenges-and-assistance">Legal challenges and assistance</h2>
<p>Recent legal challenges, including a Wells Notice <a href="https://crypto.news/crypto-community-on-opensea-wells-notice-welcome-to-the-club/" target="_blank" rel="noopener noreferrer nofollow">issued</a> to OpenSea by the United States Securities and Exchange Commission, have raised concerns within the NFT community.</p>
<p>The growing regulatory pressure on blockchain-based creators has made legal assistance a priority.</p>
<p>The fund will offer creators legal assistance from firms such as Cooley LLP, Fenwick &amp; West LLP, Goodwin Procter LLP, and Latham &amp; Watkins LLP.</p>
<p>These services will help artists ensure their projects are legally compliant and provide defense against potential government actions, according to a16z.</p>
<p>Miles Jennings, General Counsel and Head of Decentralization at a16z, wrote that “the fear of potential legal repercussions should not hold back well-meaning artists” from exploring new initiatives like NFTs.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-donations-for-2024-u-s-election-hit-190m/"> Crypto donations for 2024 U.S. election hit $190m </a></p>

A16z, OpenSea partner with Stand With Crypto to create NFT legal fund

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