{"id":8945,"date":"2022-03-02T22:17:48","date_gmt":"2022-03-02T22:17:48","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/ukrainedao-raises-more-than-7m-in-crypto-to-aid-ukraine\/"},"modified":"2022-03-02T22:17:50","modified_gmt":"2022-03-02T22:17:50","slug":"ukrainedao-raises-more-than-7m-in-crypto-to-aid-ukraine","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/ukrainedao-raises-more-than-7m-in-crypto-to-aid-ukraine\/","title":{"rendered":"UkraineDAO Raises More Than $7M in Crypto to Aid Ukraine"},"content":{"rendered":"
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On Wednesday (March 2), the Russia-Ukraine war entered its seventh day. In the week that passed since the fighting began, NFTs emerged as a potent tool for fundraising \u2014 one that communities supporting Ukrainian defense and humanitarian ventures are increasingly turning to. UkraineDAO, for one, has accomplished a lot over the last week with non-fungible tokens.<\/p>\n

The decentralized organization was created by Pussy Riot\u2019s\u00a0Nadya Tolokonnikova<\/a>,\u00a0Trippy Labs<\/a>, and members from the influential\u00a0PleasrDAO<\/a> to raise funds for people affected by the Russian invasion. It brought in more than $7 million in just a few short days.<\/p>\n

This latest news comes as the crypto and NFT communities are continuing to launch an array of endeavors to support Ukraine. The goal of all these organizations is the same: To offer assistance to those residing in the now war-torn country, where hundreds have reportedly been killed. And the results are impressive across the board, showing the vitality of the crypto community and its willingness to give. <\/p>\n

UkraineDAO\u2019s efforts began on Feb. 24, when its founders announced their intentions<\/a> to use the power of web3 technologies to raise funds. <\/p>\n

For the first few days, the DAO directed the crypto community to donate to an ETH address<\/a> (UkraineDAO.eth). Then, on Saturday (Feb. 26), Tolokonnikova initiated a\u00a0PartyBid\u00a0auction for a 1\/1 NFT of the Ukrainian flag. A total of 3,271 bidders raised around 2,258 ETH (just under $6.7 million). That money will now be used to fund nonprofits and charitable organizations on the ground in Ukraine.<\/p>\n

To date, direct donors have also contributed around $450,000 towards UkraineDAO\u2019s efforts, bringing the total amount of funds raised by UkraineDAO well over $7 million.<\/p>\n

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\ud83c\uddfa\ud83c\udde6 2250 ETH \/ $6.75M USD CONTRIBUTED TO THE UKRAINIAN FLAG NFT \ud83c\uddfa\ud83c\udde6 <\/p>\n

Thank you to all who supported our project \ud83d\ude4f<\/p>\n

Next steps: POAP for all those who donated to partybid, work with Come Back Alive on safely transferring funds<\/p>\n

You may still donate ETH directly to ukrainedao.eth pic.twitter.com\/GsQBLzHIVK<\/a><\/p>\n

\u2014 UkraineDAO (@Ukraine_DAO) March 2, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Other NFT projects for Ukraine<\/h2>\n

Similar to UkraineDAO, RELI3F is a humanitarian aid initiative that was founded by NFT and web3 artists to support the people of Ukraine. The project had a large-scale NFT sale that included pieces from 37 artists, including Danny Cole, Sartoshi, Super Gremplin, Arial Jade, and more. 100% of primary sales went directly towards relief efforts in Ukraine. Just 30 seconds after the initial launch, the project sold out, earning over a million dollars.<\/p>\n

Time <\/em>magazine also launched TimePieces\u2019 Artists for Peace. The NFT auction includes 59 artists. As is true of the other initiatives, 100% of the proceeds will go to Ukraine, and the company is receiving zero royalties on both primary and secondary sales to maximize funds for those in need.<\/p>\n

But although this fundraising is impressive, it can only do so much. <\/p>\n

\u201cWhat I\u2019m really thinking about is, what\u2019s going to happen next?\u201d UkraineDAO co-founder CryptoSteve<\/a> told nft now in a Wednesday morning Twitter Space<\/a>. \u201cThis is years of trauma for a whole country that\u2019s going to need support in many fields beyond reconstruction.\u201d<\/p>\n

The current plan, according to Tolokonnikova, is to send a portion of the funds raised to\u00a0Come Back Alive<\/a>, a charitable fund that, among other things, provides support to the Ukrainian army. Tolokonnikova says she\u2019s conferred with numerous nonprofits in Ukraine and found that Come Back Alive is regarded by many as the most trusted and effective organization aiding those currently being affected by war.<\/p>\n

\u201cWe are now focussing on transferring the funds [from the PartyBid auction] to Come Back Alive,\u201d Tolokonnikova told nft now also via Twitter Space<\/a>. \u201cIf you ask me about the future and what\u2019s next, I just want to make sure this money is transferred safely and we\u2019ll take it from there.\u201d<\/p>\n<\/p><\/div>\n