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Front Row marketplace has announced a partnership with the Texas Democratic Party to pilot a program for raising funds for candidates and causes using nonfungible tokens. Currently, the website has pixelated NFTs of multiple Texas Democratic representatives such as Chris Turner and Toni Rose with all the candidate-featured NFTs having a price of $250.
Political Fundraising Via NFTs
A new Democrat-backed group Front Row announced Monday that it is launching a political NFT marketplace that’s exclusively used for Democratic party campaigns and causes. By partnering with the Texas Democratic Party, Front Row will sell “political digital relics” that support the party’s agenda such as protecting voting and abortion rights.
“NFTs will become a strong addition to any political fundraising campaign,” said Front Row co-founder Parker Butterworth, adding:
Those who purchase NFTs through the Front Row website are considered donors, similar to traditional campaign donors. All revenue will go toward the campaign, with the exception of a transaction fee, collected by Front Row.
The platform will follow the traditional campaign finance laws which limit the price of NFTs and transaction transparency with a price cap of $5,800, which is the maximum per-cycle contribution for federal candidates. However, political action committees (PACs) and party committees have different guidelines.
Plans for Going Carbon-Negative
Front Row states it will only sell NFTs from, “verified individuals, organizations or campaigns that operate in the progressive space.” The platform claims that it will eventually strive to be carbon-negative by contributing a portion of the NFT earnings to “carbon capture and reduction” organizations, in keeping with progressive beliefs.
While Front Row is launching at the state level in Texas, it eventually plans to expand to include national politicians and causes.