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Artists and activists use NFT sales to aid Ukrainians

Artists and activists use NFT sales to aid Ukrainians

Genuine assistance transcends national lines and reaches Ukraine through NFTs. Due to the present armed scenario, artists and activists choose NFT sales over regular funding methods.

NFTs appear to be sweeping the world recently, with more and more communities participating. From great visual artists to global fashion conglomerates, video game makers to famous rappers, everyone is following the trend. Nobody anticipated armed conflict between nations, war, to be part of the NFT phenomena in 2022, yet here we are.

Immediately after the outbreak of hostilities in Ukraine and the ensuing human tragedies, NFTs were used to raise funds for refugees and other causes. UkraineDAO is the most significant example so far, having crowdfunded 2,100 ETH by March 2nd, worth over $6 million. The event was organized by Nadya Tolokonnikova, a Russian artist and activist from Pussy Riot.

Contributors will receive a fractionalized ownership of one Ukrainian flag NFT in the form of $love tokens “”Initially, artists were to design anything,” the UkraineDAO team noted, “but the group decided the NFT should be a symbol of the Ukrainian people rather than centered on a particular artist or style.”

Olive Allen is another well-known Russian artist who uses NFTs to aid Ukrainians in need. “As a Russian artist, I burnt my Russian passport to create the NFT’Passport Burning,” she stated. The NFT sale proceeds will go to the SavetheChildren Ukraine Fund.”

According to OpenSea data, the NFT auction earned 699 ETH, valued approximately $1.7 million. RELI3F is a non-profit organization founded by NFT artists to aid Ukraine. “Web3 allows us to interact with artists and collectors in times of need.” “Blockchain provides total transparency,” the RELI3F team said.

Along with new purchases, existing NFT communities have stepped out in support of the Ukrainians. On March 8, the Bored Ape Yacht Club team gave $1 million in ETH to the Ukrainian government’s official wallet, matching individual community donations of $1 million. The $2 million ETH was presented with a $200,000 Bored Ape. Even NFT funding set up to promote other causes seem to have helped Ukraine. The AssangeDao NFT sale earnings were used to make a contribution of over $1.8 million, according to Blockchain analytics firm Elliptic.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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