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Friday, January 27, 2023

Ukraine To Be Rebuilt By NFT Projects

The recent invasion of Ukraine by Russia has naturally put the entire world in a phase of turmoil, uncertainty, and geopolitical risk. There has been a continuous influence of volatility in most of the financial markets around the globe, which has further resulted in immense losses to a vast majority of the investors. With an increase in inflation globally, along with a fear of tapering liquidity, havoc seems to be spreading throughout the global economy. 

NFTs Have Come Out In Support Of Ukraine

In such a situation, a collaboration among different NFTs has cropped up in Ukraine. This includes the Nadezhda Tolokonnikova, who is the digital artist for Trippy Labs, and PleasrDAO, an artist collective. Their collaboration, called Ukraine DAO, has already sold close to 10,000 NFTs of the Ukrainian flag on the network of Ethereum, alongside a unique NFT of the flag. Currently, it has been able to raise around $6.7 million in order to support the military of Ukraine. 

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One of the NFTs of the Ukrainian flag was sold for 2,258 Ether, through a service called Party Bid. Every proceeds for the sale of this NFT was delivered to the Come Back Alive organization that aids the Ukrainian military, volunteers, and their families. 

As of now, more than 7.5 million children in Ukraine have been at the center of this conflict, as they risk trauma, displacement, and a prolonged interruption of education as well as a major loss of their family income. Save The Children, has thereby managed to raise funds in order to help those families which saw the worst impact of the Ukrainian crisis. The initial sum of $19 million worth of appeals on the donation page also includes crypto contributions. As it stands, this organization has also stated its acceptance of more than 60 different forms of cryptocurrencies, including ETH, Bitcoin, USD Coin, and Cardano.

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