Silk Road Founder Ross Ulbricht Launches NFT Collection on Ethereum

  • December 3, 2021
  • 54 Views

In 2011, the United States was shaken by the arrival of a notorious marketplace called Silk Road. It took the police two years to track down the founder – the law is strictly enforced.

Ten years later, the name Silk Road is once again a topic of discussion, with the announcement of a new NFT collection on Ethereum – created by Silk Road’s founder Ross Ulbricht.

According to his official Twitter account, Ross is to mass auction his non-fungible tokens (NFTs). The auction is set to start from December 2 to December 8. Ross Ulbrincht was known as the creator of the reputable dark web marketplace Silk Road. He’s also an early Bitcoin adopter.

The NFT collection comes with 11 art pieces, handcrafted by Ulbricht and molded into NFT form by his supporters.

The work was carried out during different periods of Ulbricht’s life from his childhood until his time in prison. The first works depict comic book characters and animals, while later works depict scenes from his trial and his inner feelings since his imprisonment.

He stated,

“I was 29 years old when I was arrested. Suddenly, sitting in prison, I had time for drawing again. I reconnected with my artistic side, producing illustrations that told the story I was going through.”

The proceeds from the auction will be used to support Ulbricht’s exit efforts. It will also be used to start the donor-advised Art4Giving organization, which is committed to easing the suffering of inmates and their families, according to Ulbricht’s writings.

“There is a lot we can do with the proceeds of this auction, but one idea I am committed to is to help kids travel to visit their moms and dads in prison.”

The move has shocked the community and become a controversial talking point. While some show support and hope that he raises enough money to fulfil his charitable and personal needs, others have no faith in this plan.

Those who took to social media to express their thoughts on Ulbricht’s decision had a mixed response, with some condemning his decision and others praising it.

Despite the fact that some Bitcoin maximalists are against Ulbricht minting NFTs, Crypto Cobain, the popular host of UpOnly TV, has spoken in support of Ulbricht, pointing out that he is credited with encouraging early Bitcoin adoption.

Ulbricht And The Silk Road

You must be a member of the crypto community long enough to recall the Silk Road, a haven for unauthorized trades.

The illegal empire came to an end after two years of operation. Ross Ulbricht, the founder of the Silk Road virtual drug marketplace, was sentenced to life in prison seven years ago. The sentence was imposed by Judge Katherine Forrest on behalf of the US Federal Court and the State Court of New York.

Judge Forrest stated in a speech to the New York Times that the Ross Ulbricht trial had two highlights that had never been seen in US executive history. The first is the government’s decision to include a virtual currency unit, such as Bitcoin, on a list of coins linked to money laundering.

The following point to note is that, for the first time, creating a website is considered a violation of US law because those who create a specific website will be protected by the Communications Act 1996.

The most difficult aspect of the trial was proving that Ross Ulbricht and Dread Pirate Roberts were the same person. It took a lucky break for Ulbricht to be apprehended when an unexpected error appeared on Silk Road’s homepage and directed to Ross Ulbricht’s IP address.

Ulbricht supporters have also gathered tens of thousands of signatures and submitted an amnesty petition to President Donald Trump’s administration. Despite widespread public support and backing, the proposal was not approved.

Silk Road supporters have criticized the FBI’s hacking of Silk Road’s servers as an invasion of Internet privacy. The FBI, on the other hand, claimed that they had been authorized by the US government and the Supreme Court to conduct the procedure as a normal search for suspects.

The post Silk Road Founder Ross Ulbricht Launches NFT Collection on Ethereum appeared first on Blockonomi.

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