In Brief:
- The sale of 10,000 “Lobby Lobster” NFT recently raised 4 million dollars.
- The fund will be donated to the crypto lobby group Coin Center.
The Lobster NFT DAO has decided to donate the $4 million in cryptocurrency to Washington crypto lobbying group Coin Center. The funds were collected from the Sale of 10,000 “Lobby Lobster” NFTs.
According to the announcement the DAO has created a poll for the donation of 1000 ETH to, non-profit research and advocacy organization, Coincenter. The poll result shows 100% in favor of votes.
The sale which took place on August 5, sold out in less than an hour and raised 1000 ETH for crypto lobbyists. The fund was raised to support the lobbying efforts supporting the DeFi sector. It is trying to get regulators off the back of the decentralized finance (DeFi) industry. Each lobster NFT sold for 0.1 ETH, worth about $390 at the time.
“In working through the Lobby Lobsters project we worked closely with Coincenter through this process. Our seed round investors and people who worked on the project through the process had vocalized we would give 100% of proceeds from the initial sale to Coincenter,” reads the proposal.
Lobby Lobsters Opensea bio says, “Lobby Lobster’s goal is to raise funds, they can help educate the representatives in Washington who make the laws around cryptocurrency. They will wear the suits for us!”
The Crypto community always supports the efforts of the project in the progress of Decentralised Finance. Last Month, Various DeFi firms donated a total of $1.5 million to the Ethereum Foundation to advance the Ethereum 2.0 upgrade.
