In these times of war, Ukraine has been utilizing NFTs to raise cash and showcasing at its finest the decentralized, trustiness nature of blockchain technology. The ongoing Russian incursion into Ukraine has cast the world in confusion, turmoil, and geo-political risk. The volatility in global financial markets has resulted in millions of investors losing a great deal of money.
With global inflation on the rise, geopolitical tensions escalating, and the United States Federal Reserve raising interest rates, things are unraveling across the globe economy. Furthermore, the disconnection of key Russian banks’ SWIFT messaging services is causing concern among entrepreneurs in the country while also having an impact on other nations with significant Russian trade ties. Despite the many concerns, cryptocurrencies and other assets like nonfungible tokens (NFT) are playing an important part in attempting to soften the impact of the Ukraine crisis.
Ukraine’s NFTs for protection
Ukraine’s vice-premier Mykhailo Fedorov revealed that the government will issue NFTs to assist finance its military campaigns. With a total of $54.7 million raised, the appeal aided Ukraine’s government and non-governmental organizations, with the majority going to Come Back Alive.
Wladimir Klitschko’s NFT
Wladimir Klitschko, the Olympic champion and boxing legend, has collaborated with WhlsBe to produce an NFT collection. The collectibles will be available to mint in a tiered pricing scheme of $100, $1,000, and $10,000. The money from the sales will go straight to Ukraine.
Ukraine’s DAO
Ukraine DAO, a collaboration between Nadezhda Tolokonnikova, Trippy Labs, and the artist collective PleasrDAO, has sold 10,000 Ethereum-based national Ukrainian flags on the platform. Alongside this there is also a distinct NFT of the nation’s flag. It has already received over $6.7 million to aid Ukraine’s military.
A service called Party Bid sold an NFT of the Ukrainian flag for 2,258 Ether (ETH) ($6.5 million at press time), which went to Come Back Alive, a non-profit organization that assists the Ukrainian military, volunteers, and their families.
Reli3F
Web3 humanitarian project Reli3F, directed by crypto artists and well-known NFT influencers, has launched a large NFT sale that includes works from 37 artists, including Danny Cole, Vinnie Hager, Sartoshi, Gremplin, Ravi Vora and others. All sales proceeds were immediately disbursed to Ukraine relief efforts. Within 30 seconds of the initial release, the NFT project had sold out, netting over $1 million in just a few minutes.
Waone Interesni Kazki
Vladimir Manzhos, aka Waone Interesni Kazki, a prominent contemporary Ukrainian artist known for his work with NFTs of his most famous paintings inspired by surrealists and Ukrainian folk tales, is selling NFTs of his most famous works.
A portion of the money raised will go to charitable causes dedicated to military and medical aid. The goal is to collect $7,000 in donations from NFTs such as “The Seed of a Good Idea,” “Beta to Alpha Transition,” and “Prisoned Mind.” These are 1/1 edition NFTs that go for $290 each.
