Texas Democratic Party First To Drop Arrest Warrant NFT’s
A new NFT platform called Front Row is establishing a marketplace to raise money for Democratic candidates as political corporations begin to incorporate non-fungible into their campaigns. On Monday, Front Row announced the launch of the inaugural NFT marketplace which will convert memorabilia, media, and art into valuable digital assets. The Texas Democratic Party will be the first to sell “political digital antiques” that support the party’s purpose, including voting and abortion rights protection.
NFT purchases will be counted as campaign contributions, according to reports. Both purchasers and campaigns will be subject to campaign funding restrictions. The NFT will be available for purchase on the Front Row website in the same way that donors may donate to the Democrats Act Blue website.
The proceeds from the NFT’s sale will go to the campaign that created it. Federal candidates would be prohibited from selling NFTs for more than $5,800 per cycle, according to reports, but PACs and party committees would be free to hike their rates in compliance with campaign finance law. One of the first NFTs for sale is an animated arrest warrant for the Texas Democratic lawmakers who fled the state last summer to prevent passage of a draconian voting rights measure.