Overview of the Article
• The crypto community has minted over 140,830 non-fungible tokens (NFTs) in the ‘Stand with Crypto’ collection launched by Coinbase.
• The goal is to make US regulators provide a much-needed “sensible crypto policy.”
• A portion of the mint fees from this collection are donated to vetted organizations through a Crypto Advocacy Round with Gitcoin.
The ‘Stand With Crypto’ NFT Collection
The ‘Stand with Crypto’ is a collection of commemorative non-fungible tokens (NFTs) that was launched by the exchange giant Coinbase in April this year. It symbolizes individual support and collective stand for protecting and promoting cryptocurrencies’ potential. Users can mint a free ‘Stand with Crypto’ NFT and add a shield emoji next to their Twitter display name. They can scan the QR code on the NFT or sign up on ConsenSys Quorum website to become an advocate for pro-crypto policy in all 435 US Congressional Districts. At the time of writing, there were 140,830 pieces minted and OpenSea data showed that the collection had a total volume of ETH 5, its floor price was ETH 0.0002, and there were 53,155 owners.
Minting Fees Donated To Vetting Organizations
Any mint fees associated with this collection will be donated to vetted organizations through a Crypto Advocacy Round with Gitcoin. This initiative hopes to influence laws and policies, gather people in a community to gain strength in numbers, promote innovation, protect jobs, and educate everyday Americans about crypto. Coinbase CEO Brian Armstrong also joined this movement by minting his own NFT under this collection.
Purpose And Intent Of The Collection
The purpose behind creating this collection is to seek sensible crypto policy from US regulators so as to protect digital assets’ potential and enable them to reach their full potential globally. Additionally, it aims at changing hearts and minds when it comes to cryptocurrencies among everyday Americans as well as governing bodies so as to create positive regulations around digital assets worldwide.
Conclusion
By launching ‘Stand with Crypto’, Coinbase has started an initiative which seeks sensible cryptocurrency policy from US regulators while also educating people about cryptocurrencies globally so that digital assets can reach their full potential without any hindrances or obstacles posed by governments or financial institutions across the world.