安德森·霍洛维茨（Andreessen Horowitz）想要更新的监管众筹版本

输入：这并不是A16Z的新意见。今年早些时候，风险投资集团提倡更新REG CF以支持加密产品。

Andreessen Horowitz, a prominent venture capital firm, has penned a plea to the Securities and Exchange Commission (SEC) to adapt Regulation Crowdfunding (Reg CF) for Non-Fungible Token (NFT) offerings.

著名的风险投资公司Andreessen Horowitz已向美国证券交易委员会（SEC）恳求调整法规众筹（REG CF），以供无污点（NFT）提供。

Non-Fungible Tokens (NFTs) are crypto assets whose value, utility, or significance is primarily derived from being a record of ownership or rights with respect to a tangible or intangible good.

无杀菌令牌（NFTS）是加密资产，其价值，效用或意义的主要因素主要是在有形或无形的商品方面的所有权或权利的记录中得出的。

The venture group believes that existing securities crowdfunding exemptions, including Reg CF, Reg A+, and Reg D 506c, do not work well for “creative endeavors.”

该风险投资集团认为，包括Reg CF，Reg A+和Reg D 506C在内的现有证券众筹豁免对“创意努力”并不能很好地工作。

As not all NFTs are said to be securities, they believe these should benefit from a safe harbor issued by the Commission. However, not all NFTs should be eligible for this safe harbor. A16z states that new crowdfunding regulations should be created by the Commission for transactions of collectibles that are not eligible for the safe harbor.

由于并不是所有NFT都是证券，因此他们认为这些NFT应该从委员会发行的安全港中受益。但是，并非所有NFT都应该符合这个安全港的资格。 A16Z指出，委员会应制定新的众筹法规，以制定不符合安全港的收藏品的交易。

This is not exactly a new opinion from a16z. Earlier this year, the VC group advocated that Reg CF be updated to support crypto offerings. To accomplish this task, they recommended funding cap should be increased to $75 million from its current $5 million limit. Many insiders in the securities crowdfunding sector would like to see Reg CF rise to at least $20 million.

这并不是A16Z的新意见。今年早些时候，风险投资集团提倡更新REG CF以支持加密产品。为了完成这项任务，他们建议将资金上限从目前的500万美元限额增加到7500万美元。证券众筹领域的许多内部人士希望Reg CF上涨至至少2000万美元。

As Reg CF is a notice filing that does not need to be qualified by the SEC, this approach makes sense as it simpiflies the filing process while allowing retail investors to access these digital asset offerings.

由于REG CF是不需要由SEC资格的通知文件，因此这种方法是有意义的，因为它可以使备案流程介绍同时允许零售投资者访问这些数字资产产品。

Andreessen outlines their NFT proposal in a letter to the SEC Crypto Task Force, led by SEC Commissioner Hester Peirce.

安德森（Andreessen）在SEC专员Hester Peirce领导的一封信中概述了他们的NFT提案。

The firm believes the SEC should establish a new “tailored crowdfunding regime for creators.”

该公司认为，SEC应该建立一个新的“为创作者量身定制的众筹政权”。

The letter states: “A crowdfunding pathway tailored for collectible tokens could leverage the criteria of the safe harbor described above, and, as such, would more effectively foster capital formation from the public. In particular, the crowdfunding regulations applicable to collectible tokens should require that: (1) the asset to be delivered to the investor in exchange for the investment must be a collectible token; (2) the transaction must not involve the creation of any post-sale interests in the creator or any third party, other than a right to the delivery of the collectible token and associated object(s); and (3) the transaction is not marketed or promoted as an investment opportunity that suggests purchasers should expect financial returns based upon the efforts of the creator or any third party beyond the delivery of the collectible token and the creator’s efforts to build a reputation and following.”

这封信说：“一条针对可收藏代币量身定制的众筹途径可以利用上述安全港的标准，因此，将更有效地培养公众的资本形成。特别是，适用于可收藏的代币的众筹法规应要求以下：（1）涉及任何投资的投资必须是不合时宜的。除了交付收藏令牌和相关对象的权利（S）和（3）交易不是作为投资机会而表明购买者应根据创建者或任何第三方提供收藏代表和创造者的努力，都应该期望购买者期望购买者的努力，否则销售的销售利益，除了提供收藏的代币和相关的对象之外；

The referenced safe harbor requires:

引用的安全港要求：

Andreessen is of the opinion that a crowdfunding pathway could enable creators while driving economic value to holders of these digital assets while preserving investor protection goals.

安德森（Andreessen）认为，众筹途径可以使创作者在推动这些数字资产的持有人的同时推动投资者保护目标的同时推动创作者。

The letter is viewable here.

这封信在这里可以查看。