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“We can’t wait to keep transforming powerful, exclusive behind-the-scenes moments into digital assets that help fuel progressive objectives,” Front Row co-founder Parker Butterworth said.
Front Row, a marketplace geared towards progressive organisations, has announced a partnership with the Texas Democratic Party to pilot a programme aimed at raising funds for candidates and causes through the use of nonfungible tokens.
In an Oct. 11 announcement, Front Row said it had already minted digital images of key moments related to the progressive movement, and listed the nonfungible tokens (NFTs) for sale. Some of the featured NFTs include “wanted” posters depicting conservative Texan lawmakers fleeing the state.
Front Row says that the funds raised through its NFTs will go “directly towards political groups and individuals,” but did not specify how it planned for the digital purchases to be compliant with current campaign finance laws. Under U.S. law, candidates for federal offices appear unable to receive more than $5,800 from a single individual for the sale of one or more NFTs.
“NFTs will become a powerful addition to any political fundraising effort, and the launch of our marketplace will give Democrats across the country a fundraising advantage that its counterparts do not have,” said Front Row co-founder Parker Butterworth, likely referring to Republicans. “We can’t wait to continue turning powerful, exclusive, behind-the-scenes moments into digital assets that help fuel progressive objectives.”
Keeping in line with progressive values, Front Row said it also blockchain platform will strive to be carbon-negative by donating a portion of the NFT proceeds to “carbon capture and reduction” causes. Though the platform is starting at the state level in Texas, it hinted at expanding to national candidates and causes.
Despite the fact that many local, state, and federal candidates in the United States have announced that they will accept cryptocurrency donations — most likely in an effort to engage younger, tech-savvy voters — NFTs have largely been absent from discussions in Congress.
According to report, the current 117th Congress has introduced 18 bills pertaining to digital assets and blockchain technology in 2021.