Nonfungible tokens (NFT) depicting cartoon lobsters in suits have raised more than $4 million to support lobbying efforts supporting the decentralized finance (DeFi) sector.
On August 5, nonfungible token platform and community Universe sold out if its Lobby Lobster NFTs in less than one hour, raising roughly $4 million.
Already $4m raised for lobbying efforts in DC.
Let’s go Lobby Lobsters community. pic.twitter.com/VeT1XymMoL
— Universe.XYZ (@universe_xyz) September 5, 2021
Each NFT was minted for 0.1 Ether (roughly $390), with all of the 1,000 Ether raised through primary sales set for donation to “a non-profit focused on the policy issues facing cryptocurrencies.” In a blog post, Universe revealed that the beneficiary has been selected, however the name of the organization will be made public soon.
Proceeds from resales will also be deposited into the Universe DAO’s multi-sig wallet, with monthly communal votes slated to determine which organizations to disburse funds to. 7.5% of secondary sales will be directed to support lobby groups located outside