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Industry leaders a16z, OpenSea pledge $6 million to shield NFT artists from legal threats

The Stand With Crypto Alliance, supported by Coinbase, has launched the Creator Defense Fund initiative, which has raised $6 million from Andreessen Horowitz and OpenSea. The fund aims to provide legal support to artists and creators facing government actions or regulatory uncertainty within the crypto space. A16z contributed $1 million to the fund, while OpenSea pledged $5 million. The alliance believes that blockchain-based creators will continue to face regulatory threats, and the fund aims to assist those in need. The initiative includes partnerships with leading law firms to provide legal consultations for creators. Crypto community members have welcomed the move, recognizing the importance of supporting creators in the NFT space.

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