Federal Election Committee Approves NFTs for Fundraising Efforts

The United States Federal Election Committee (FDEC) has approved that DataVault Holdings may use NFTs for campaign fundraising efforts. DataVault sought regulatory approval to offer NFTs to individuals following contributions to political committees. The tokens will be able to be redeemed to promote a campaign without compensation, and any fees generated will be reported as fundraising expenditures. Similar approvals came in 2019 when blockchain tokens were permissible and used by several candidates as incentives to engage volunteers.