The NFT was purchased by ‘FreeRossDAO‘, which is a decentralised autonomous organisation (DAO) dedicated to freeing Ulbricht from prison, advancing prison reform and “protesting the injustices of the American prison system”.
The auction itself attracted swathes of attention from the entire crypto community including Kraken CEO Jesse Powell and ‘StarryNightCapital‘ due to the history and controversy surrounding e-commerce website Silk Road.
On Silk Road, Bitcoin was the only means of exchange and garnered huge significance and influence in the early adoption of the market-leading asset. His work didn’t go noticed by the Bitcoin community, with many recognising “Ross’s vision as being an original catalyst for blockchain adoption”.
‘$ROSS’ will then represent governance rights – which allow holders to vote on governance proposals and contribute to future decisions- within FreeRossDAO and a fractional part of the “GENESIS COLLECTION” NFT.
The funds raised from the Ross Ulbricht Genesis Collection NFT will however not go directly to Ross Ulbricht or his family. Instead, they will be transferred to a legally separate entity that will redistribute the proceeds towards the Art4Giving fund and efforts to free Ross Ulbricht.
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