The United States Federal Election Commission (FEC) has recently approved the use of Non-Fungible Tokens (#NFTs) as a fundraising incentive. This means that DataVault Holdings is now able to use #NFTs for its fundraising activities. This is an important step forward for fundraising, as #NFTs offer a new and innovative way to support campaigns and candidates. With #NFTs, supporters can now donate to campaigns with a digital asset that has value and can be exchanged for other forms of currency. This is a great opportunity for supporters to show their support and make their voices heard in the political process.
The Federal Election Commission has stated that DataVault would keep track of all tokens issued for its records and provide donors with appropriate compensation for each non-fungible token.
DataVault Holdings has received the green light to launch its fundraising activities with the help of nonfungible tokens (NFTs). The Federal Election Commission (FEC) of the United States issued an advisory opinion that allows DataVault to distribute NFTs to political campaign contributors in accordance with FEC guidelines on corporate contributions. DataVault will track the tokens issued and is entitled to get fair remuneration for each distributed token. This is a significant development for the fundraising purposes of the company, and could revolutionize the way political campaigns are funded in the future.
The FEC has given us a solid foundation to begin our market capture and has also provided a very efficient means to inform our prospects and competitors of our international patents’ rights and our exclusive product offerings. Raising money is a real burden on political campaigns and often the pivotal factor in a political campaign’s success or failure. We’re very focused on delivering the power of utility tokens and our mobile response technologies to help our customers win elections and fund their constant campaigning.
Nathaniel Bradley, CEO of DataVault
DataVault, a commercially incorporated vendor, has been approved by the FEC to extend credit to political committees with Non-Fungible Tokens (NFTs) on the same terms as its non-political clients. This is allowed by the FEC Act and Commission rules, as long as DataVault is offering the same services to political groups as to its non-political clients. Allen Dickerson, the FEC Chair, has declared that DataVault is eligible for this designation, and will be able to provide credit to political groups on the same terms as non-political debtors.
It was an honor to appear before the FEC on Datavault’s behalf. We appreciated the insightful questions raised by its Commissioners and their unanimous approval of both Datavault Advisory Opinion Requests. We look forward to seeing the amazing work Datavault will do to help campaigns reach a broader donor base.
Elliott S. Berke, Managing Partner of Berke Farah LLP and Datavault’s Counsel
More about the US FEC
The Federal Election Commission (FEC) is an independent regulatory agency that is responsible for administering and enforcing the federal campaign finance law. It has the power to oversee the financing of campaigns for the U.S. House of Representatives, the U.S. Senate, the Presidency, and the Vice Presidency. The FEC’s website (www.fec.gov) provides detailed information about the agency’s mission, its governing laws, and its enforcement of campaign finance regulations. The FEC takes its role in protecting the integrity of the election process very seriously, and its website is a valuable resource for those interested in learning more about the agency and its work.
More about Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company making waves in the cryptocurrency market with its innovative and secure platform, Datavault®. Its Information Data Exchange® (IDE) allows businesses to monetize their data assets safely and effectively. The company is currently working on consolidating Data Donate Technologies, Inc., ADIO LLC, and Datavault® Inc. as individual subsidiaries of Data Vault Holdings Inc. To find out more about the company and its products, be sure to check out its website at www.datavaultholdings.com.
