One way some of the world’s most well-known convicts have been able to pay for their legal fees is to sell NFTs. Disputes in the big leagues can quickly cost a lot of money because they often need a team of experienced lawyers to handle them. So even the richest people who are in prison are likely to choose not to pay for these expenses out of their pocket.
In prison, Silk Road founder Ross Ulbricht has used NFTs to help pay for his legal fights. He was sentenced to two consecutive life terms in prison in Tucson, Arizona. An extra 40 years were added for good measure.
Basically, it’s a death sentence. So it’s not surprising that he has tried for years to get it changed. As NFTs, his writings and art can be sold under the Genesis Collection. This could give him enough money to pay for a successful appeal if he works with some of his most ardent supporters to raise the money he needs.
Ulbricht’s fans came together in December 2021 to join FreeRossDAO, a group that wants to get the Silk Road founder out of prison. This is a good thing because Ulbricht played a big role in the early history of decentralized digital currencies, so they should get money from NFTs and crypto.
Most of the things sold on Silk Road were paid for with bitcoin, which made it easier for people to do business without being seen.
Ulbricht was charged with crimes because he sold illegal drugs, guns, and even assassination services on the platform. After all, it was open and anonymous. Ulbricht is also said to have used the site to plan the murders of six people, according to the accusations.
The people who want Ulbricht to be freed
It was in 2013 when bitcoin’s value first hit $1,000, and many of its first adopters kept their old Silk Road coins because they didn’t want to lose them. This decision would pay off in the long run, as the value of the coin rose quickly in the following years, making many of the people who bought it early millionaires. These same people, of course, owe Ulbricht a debt of gratitude because Silk Road played a small role in their rise to wealth.
Many of these people went on to help with the formation of the FreeRossDAO. They’ve raised more than 2,800 ETH (nearly $12 million) together to buy half of Ulbricht’s Genesis Collection.
Ulbricht isn’t the only person who has been jailed who has been very well-liked by the NFT community. An NFT auction has just been won by a group called the AssangeDAO, which includes some of Julian Assange’s most ardent supporters from Wikileaks. This will help pay for Assange’s rising legal fees. When they pooled their money, they bought the Clock NFT for $52.7 million, making it the second-largest single NFT sale ever.
Anyone who has been found guilty of a crime can use NFTs to pay for their legal defense. Ulbricht and Assange were able to “crowdsource” money for their legal fees because they have a lot of fans on the internet. Many more things would have to happen before ordinary people could use NFTs to fight for their freedom.