Jailed Founder of Dark Web Marketplace The Silk Road Makes NFTs for Charity – and DAO Has Been Formed to Buy Them and Protest His Jail Currency News | Financial and business news

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In May 2015, Silk Road founder Ross Ulbricht was sentenced to life in a US federal prison.
  • Ross Ulbricht, who is serving a life sentence for running the Silk Road black market website, is auctioning NFTs for charity.
  • Ether-based auctions for the Ross Ulbricht Genesis Collection have already reached around $ 1.8 million, BlockWorks reported.
  • A group of crypto investors committed to the freedom of Ulbricht are considering bidding on the collection.

Ross Ulbricht, who is serving a life sentence for running black market website Silk Road, is auctioning NFTs for charity, and a group seeking his freedom is considering bidding on his designs, according to a BlockWorks report this week.

The auction for 10 non-fungible tokens created by Ulbricht will take place on the SuperRare platform to Wednesday. On Friday night, the highest bid in the auction was 420.69 ethers, or about $ 1.8 million based on the ether price of about $ 4,233.

The Ross Ulbricht Genesis Collection includes NFTs of graphite pencil drawings and poetry, covering works he produced in his early childhood as well as during his time in prison.

Ulbricht, arrested in 2013 and sentenced in 2015, recalled in a blog post this week that he heard about NFT after being told he should sell his art digitally.

“I was able to connect with those of you in the free world through my art. The isolation I felt was tempered,” he wrote.

Proceeds from the NFT auction will be donated to charity and specifically to “help incarcerated,” Ulbricht’s mother Lyn Ulbricht recently said on Twitter, according to BlockWorks.

Silk Road was closed in 2013 after gaining notoriety as an online drug marketplace that settled bitcoin transactions.

Meanwhile, a group of crypto investors created the FreeRossDAO, a decentralized, autonomous organization aimed at raising funds to purchase the Genesis Collection and protest what it sees as injustices in the US prison system.

Releasing Ulbricht from jail time is at the peak of DOA efforts, and the treasury balance at the end of Friday was 962,192 ethers, or over $ 4 million.


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