A number of the world’s most high-profile prisoners have taken to promoting NFTs to pay their authorized charges. With circumstances within the main leagues typically requiring a staff of seasoned attorneys to deal with litigation, charges can simply climb nicely into the hundreds of thousands. As such, even probably the most well-off incarcerated people in all probability wouldn’t thoughts avoiding paying these charges out of pocket.
The Silk Highway to freedom?
One notable prisoner utilizing NFTs to assist fund their authorized battles is Silk Highway founder Ross Ulbricht. He’s at the moment serving two consecutive life sentences – with 40 years thrown in for good measure – at a high-security penitentiary in Tucson, Arizona.
That’s successfully a loss of life sentence; so it solely is smart that he’s been preventing since his 2015 sentencing to legally reverse the trial’s end result. With the assistance of a few of his most ardent followers, he may be capable of accrue sufficient uncooked capital to finance a profitable reversal of the trial’s end result – by way of the sale of his private writings and artwork, as NFTs underneath the Genesis Assortment.
In December of 2021, a big group of Ulbricht’s supporters got here collectively to kind FreeRossDAO: a company that hopes to free the Silk Highway founder from jail. It’s solely becoming that they’re elevating funds by way of NFTs, and in flip, crypto, as Ulbricht performed an enormous position within the early historical past of decentralized digital foreign money.
A lot of the items put up on the market on Ulbricht’s darkish internet black market Silk Highway have been paid for utilizing bitcoin, which gave customers the liberty to conduct monetary transactions in full anonymity.
The openness and anonymity of Silk Highway ultimately led to the costs that landed Ulbricht in jail, nevertheless, as he’s been held accountable for gross sales of unlawful medicine, weapons, and even assassination companies performed on the platform. Allegations have been even pointed towards Ulbricht himself of utilizing the platform the organize the deaths of six individuals.
The events working to free Ulbricht
When bitcoin’s worth first crossed the $1,000 mark in 2013, a lot of its unique holders determined to carry onto their cash leftover from their days buying and selling on Silk Highway. This choice would repay on their finish, because the coin’s worth exploded within the coming years, making millionaires out of a big chunk of this unique group. Understandably, these similar individuals maintain a debt of gratitude in direction of Ulbricht, as Silk Highway had performed an oblique position of their path to riches.
Many of those individuals went on to assist set up the FreeRossDAO. Collectively, they’ve raised over 2,800 ETH – price over $12 million – to go in direction of buying half of Ulbricht’s Genesis Assortment.
The remainder of the gathering will consist of 5 Bitcoin NFTs slated for minting on April 5, Satoshi Nakamoto’s birthday.
Beating the clock
Ulbricht isn’t the one incarcerated particular person having fun with important backing from the NFT area. The AssangeDAO, comprised of a few of Wikileaks founder Julian Assange’s greatest supporters, additionally not too long ago made the profitable bid in an NFT public sale meant to lift funds for his rising authorized charges. They got here collectively to buy Assange and Pak’s Clock NFT for 16,953 ETH ($52.7 million), making it the second-largest single NFT sale in historical past.
In idea, any convicted particular person can use NFTs to fund their authorized defenses. Within the case of Ulbricht and Assange, their massive followings made it attainable for them to “crowdsource” funding for his or her authorized charges. For normal individuals, a whole lot of different variables would want to fall into place to allow them to make use of NFTs to combat for his or her freedom.
Source: NFT Now