Front Row, a progressive marketplace, has announced that it would collaborate with the Texas Democratic Party to test a platform for generating funds for candidates and causes using non-fungible tokens (NFT).
Front Row stated it has already minted digital pictures of important events in the progressive movement and placed the NFTs for sale in a Monday release. “Wanted” posters showing conservative Texas politicians leaving the state are among the NFTs on display.
Front Row stated that the cash generated through its NFTs will be sent directly towards political parties and people but did not elaborate on how it intended to ensure that the digital purchases complied with current campaign finance rules. Nominees for federal positions appear to be prohibited from receiving more than $5,800 from a single person to sell one or more NFTs under US legislation.
“NFTs will become a powerful addition to any political fundraising effort, and the launch of our marketplace will give Democrats across the country a fundraising advantage that its counterparts do not have,” stated Front Row co-creator Parker Butterworth, likely referring to Republicans. “We can’t wait to continue turning powerful, exclusive, behind-the-scenes moments into digital assets that help fuel progressive objectives.”
Front Row has stated that their blockchain platform will seek to be carbon-negative by contributing a percentage of the NFT revenues to “carbon capture and reduction” initiatives, keeping with progressive principles. Although the platform is launching at the state level in Texas, it has been suggested that it could eventually grow to include national politicians and issues.
Although numerous local, state, and federal candidates for office in the United States have stated that they will take digital currency payments — most likely to attract younger, tech-savvy voters — NFTs have mostly been absent from discussions in Congress.
According to Cointelegraph, the current 117th Congress has introduced 18 measures in 2021 that deal with digital assets and blockchain technology.