The no-loss lottery, PoolTogether, launched a sale of NFTs yesterday to raise money for its legal defense in New York state against a class action suit brought by a crypto-critic software engineer.
Why it matters: It aims to test the question of whether or not creators can make something, release it on a blockchain and really claim not to control it anymore.
What's going on: The complainant, Joseph Kent — a former staffer of the presidential campaign of Elizabeth Warren — bought tickets in the PoolTogether lottery in order to have standing to sue its creators, Compound (a lending platform and business partner) and investors for running what he contends is an illegal lottery. His suit was filed in January in New York State.
In his complaint, Kent's attorneys write that he "is gravely concerned that the cryptocurrency ecosystem — which requires the use of enormous amounts of electricity — is accelerating climate change and allowing people to evade financial regulations and scam...
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