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Not just for artwork, NFTs are being used by political candidates to raise money, attract young supporters

Not just for artwork, NFTs are being used by political candidates to raise money, attract young supporters

ABC News
Wednesday, January 26, 2022 10:59:53 AM UTC

Political candidates are starting to turn to NFTs for fundraising -- but some experts say they're concerned about transparency issues.

With everyone from giant companies to celebrities embracing the cryptocurrency phenomenon known as NFTs, political candidates are now getting into the act -- but some experts say that transparency concerns could affect their use as a political fundraising tool.

Non-fungible tokens -- digital assets that cannot be replicated and can be used to represent real-world items -- are slowly creeping into the political world, with a few candidates already using them to raise thousands of dollars.

"NFTs are bringing more people into our fold, into our movement," said Max Rymer, a digital consultant for Minnesota Republican gubernatorial candidate Dr. Scott Jensen.

Jensen's campaign saw an opportunity for NFTs to be a low-dollar way for people to become engaged with their candidate and receive something of value in return for their donations, Rymer told ABC News.

Read full story on ABC News
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