{"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":"
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