- Lobby Lobsters, non-fungible token (NFT) raised nearly $4M.
- Utilized to support lobbying efforts supporting the DeFi.
- Lobby Lobster NFTs have sold out in less than one hour.
Lobby Lobsters, non-fungible token (NFT) portraying cartoon lobsters in suits have raised nearly $4 million. This will utilized to support lobbying efforts supporting the decentralized finance (DeFi) sector.
Accordingly, on August 5, Sunday, the NFT platform and community Universe sold out its Lobby Lobster NFTs in less than one hour. And it raised nearly $4 million.
More so, each and individual non-fungible token (NFT), minted for 0.1 Ether which is worth nearly $390. With all the 1,000 Ether (ETH) raised through primary sales set for donation to a non-profit focused on the policy issues facing cryptocurrencies.
Furthermore, the Lobby Lobsters drop pulled in commendation and interest from many driving figures from the DeFi and crypto environment. That includes Foobar, Fiskantes, and Delphi Digital fellow benefactor Tom Shaughnessy.
Even more, 7.5% of secondary sales will be directed to support lobby groups located outside of the United States. The idea for Lobby Lobsters emerged from discussions between Uniswap’s Hayden Adams and Synthetix’s Kain Warwick. Regarding how to fund lobbying efforts supporting the DeFi industry.
The Lobby Lobsters drop comes amid the backdrop of the United States Securities and Exchange Commission’s investigations into Uniswap’s Labs. The extreme support shown for Universe’s Lobby Lobster drop stands in contrast to the recent controversy surrounding the allocation of 1 million UNI tokens the worth is nearly $20 million. From the Uniswap treasury to fund lobbying and advocacy efforts of the recently formed DeFi Education Alliance.
In addition, in July the organization coming under fire for abruptly dumping half of the UNI allocated to it for cash. Regardless of having indicated tokens would sold gradually more than four to five years.