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Thursday, June 1, 2023

Artists and Activists Turn to NFT Sales to Support the Ukrainian People

Artists and Activists Turn to NFT Sales to Support the Ukrainian People – NFTs are demonstrating humanity’s better side, as genuine support crosses national borders and reaches Ukraine via the metaverse. People from all around the world donate to Ukraine through NFT sales as a result of the current military conflict.

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NFTs seem to be taking over the world lately, with more and more types of communities being involved every day. Everyone is rushing in to follow the trend, from prominent visual artists to world fashion brands, and from video game developers to famous rappers. 

Armed combat between nations, actual war, is one facet of human life that no one expected to be brought into the NFT phenomenon in 2022, but here we are.

UkraineDAO is the most notable case thus far, having crowdfunded 2,100 ETH by the 2nd of March, a total value of over $6 million at the time. Nadya Tolokonnikova, a Russian artist, activist, and member of the anarchist feminist punk rock band Pussy Riot, organized the event.

Also Read: Stripe Brings Back Crypto Support After 4 Years

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Contributors will acquire fractionalized ownership of one Ukrainian flag NFT in the form of $love tokens, rather than individual works of art. 

“Initially, there was the thought of artists designing anything,” the UkraineDAO team noted, “but that idea rapidly altered when the group determined the NFT should be a symbol of the Ukrainian people rather than centered on a certain artist or aesthetic.” However, we fully support other organizations auctioning off artists’ work to raise funds for Ukraine.”

Olive Allen is another well-known example of a Russian artist using NFTs to help people in need in Ukraine. “I’m a Russian artist, and in sympathy with the Ukrainian people, I burned my Russian passport to create the NFT’Passport Burning,” she said. The revenues from the NFT sale will be given to the SavetheChildren Ukraine Fund.”

The RELI3F.xyz NFT sale, which raised 699 ETH, worth over $1.7 million, according to data on OpenSea, is the second largest case in terms of monetary value so far. RELI3F is a humanitarian aid organization formed by NFT artists to help the people of Ukraine. 

“In a moment of crisis, web3 allows us to collaborate with artists and collectors to get cash to where they’re needed most.” “We can provide complete transparency because of the blockchain,” the RELI3F team claimed.

In addition to new purchases, existing NFT communities have stepped forward to show their support for the Ukrainian people. On March 8, the Bored Ape Yacht Club team delivered $1 million in ETH to the official wallet of the Ukrainian government, matching the $1 million in donations made by individual community members. 

Also Read: Western Union Suspends Operations in Russia Over Ukraine War

Aside from the $2 million in ETH, someone also sent a $200, 000 Bored Ape. Even NFT funds that were established to promote other causes appear to have contributed to Ukraine. 

The proceeds of the AssangeDao NFT sale – which was designed to support the detained Wikileaks founder and activist Julian Assange – were used to make a gift worth over $1.8 million, according to Blockchain analytics firm Elliptic.

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