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Odaily Translator | Nian Yin Si Tang
Summary:
Summary:
- An organization called "Free Ross" is selling NFT collections to raise funds for Darknet Silk Road founder Ross Ulbricht and support other incarcerated individuals.
- The current highest bid has exceeded $2.7 million, while a DAO has raised about $3.4 million to win the auction.
It now appears that the same strategy is raising money for the "Free Ross" campaign and, if it works, will fund a long-running "rescue campaign."
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Free Ross NFT sale starts
Ross Ulbricht is the founder of the darknet Silk Road marketplace, a place where users can buy drugs online and one of the first major use cases for cryptocurrencies. Ulbricht was arrested in 2013 and in 2015 he was sentenced to two life sentences plus 40 years in prison without the possibility of parole.
The latest idea from these backers is to raise funds through NFT sales. The Free Ross organization is selling Ulbricht's NFT collection "Ross Ulbricht Genesis Collection," which includes Ulbricht's text portfolio, 10 artworks, and an animation by NFT artist Levitate as a single NFT. The artworks were created by Ulbricht at various stages of his life from childhood to prison, with early works depicting comic book characters and animals, and later works depicting court trials and his inner feelings after being imprisoned. Proceeds from the sale will go to Free Ross and help other incarcerated people and their families.
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"Uncageable" by Ross Ulbricht. Image credit: Free Ross.
The latest data shows that NFT auctions currently held on the NFT marketplace SuperRare have raised 666 ETH worth $2.76 million. Bidders include NFT holders, such as the person who owns CryptoPunk #6529 (who has anonymously acted as that Punk). The auction runs from December 2nd to December 8th.
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DAO participates in the auction
Now, a new bidder is up against those who bid on the Free Ross NFT. PleasrDAO, a group of NFT investors and artists, has launched a DAO that anyone can join for the sole purpose of bidding on Free Ross NFTs.
So far, the DAO has raised 826 ETH ($3.4 million), which is higher than the current highest bid. Anyone can contribute to the campaign by sending ETH to the PleasrDAO wallet (co-managed by members of PleasrDAO and friends of Ross Ulbricht).
If PleasrDAO succeeds in bidding, its plan is to split that NFT into tokens and distribute them to those funding the auction. The idea is that token holders will have partial ownership of this NFT. Any remaining funds will be put into the DAO's treasury, which will be controlled by token holders.
The DAO's approach differs from normal auctions in that it is not a winner-takes-all game. Members come together and collectively own the work, rather than one individual outbidding the others to monopolize it, which partly explains why DAO organizations find it relatively easy to raise huge sums of money to bid on items.
