The NFT drop by the imprisoned Silk Road founder generates quite a commotion.
Those who support Ross Ulbricht, the founder of the now-defunct dark web marketplace Silk Road, hope he earns enough money to meet his personal and philanthropic needs, while others believe he should not be selling NFTs at all.
Ross Ulbricht, the founder of the now-defunct dark web marketplace Silk Road, has caused a stir by announcing that he would begin auctioning off his series of nonfungible tokens (NFT) on December 2.
On December 1, the imprisoned early Bitcoin adopter revealed through his supporter-operated Twitter account his intention to auction off the Ross Ulbricht Genesis Collection on the Superare NFT marketplace from December 2-8. The collection contains of 11 works of art created by Ulbricht, which were subsequently coined into NFT form by his followers.
Ulbricht created the paintings at various times of his life, from boyhood through his time in prison. The earlier pieces portray comic book characters and animals, and the later works represent images from his court trial and the experiences he has experienced since being imprisoned.
The auction proceeds will be used to help establish a trust to support Ulbricht’s quest to be released from prison. The funds will also be used to assist start the donor-advised charitable fund Art4Giving, which is “committed to alleviating the suffering of the jailed and their families.”
Ulbricht has been a divisive figure in the cryptocurrency community since he was convicted to two life sentences in federal prison in October 2015 for managing the Silk Road bazaar. Silk Road debuted on the dark web in February 2011 and allowed users to buy almost anything with Bitcoin (BTC), including illegal drugs.
The statement triggered a flurry of mixed social media reaction, with some criticizing Ulbricht’s choice and the majority supporting his cause.
One skeptic, @francispouliot, remarked that while he supports Ulbricht, “the fact that the insane and immoral NFT ponzi has now become fully normalized is deeply troubling.” Other Bitcoin maximalists, such as @vladenhawk, objected to the entire premise of NFTs “I can tolerate with the creation of international drug and weapons markets. But, NFTS is where I draw the line.”
Although some Bitcoin maximalists may be against Ulbricht minting NFTs, he was essential in fostering early Bitcoin popularity, according to Crypto Cobain, high-profile presenter of UpOnly TV.