03-21-2022 icon

NFT Projects Rallying to Rebuild Ukraine

By Lucy Adegbe

The continuous distress in Ukraine caused by the Russian invasion has led to a plunge in diverse areas of the nation’s economy. There has been a worldwide state of scepticism and stakes as a response, leading to a rise in the instability of the monetary market. 

However, other measures have been employed to aid refugees and other residents of the nation in this perilous time. Ukraine has found the likes of cryptocurrency and NFTs helpful in its fundraising projects, proving the credibility of this often-tagged “cynical” technology. 

Most of the funds raised from these NFT projects are geared towards meals, medical aid, and the supply of armed services.

Some of these projects include:

Holy Water

This organization consists of about half a thousand Ukrainian creators that have collectively put together different NFT arts. The collections are put up for sale through holy water with the possibility of realizing up to a million dollars to assist Ukraine residents. 

For the crypto space, this is a significant push towards solidifying its importance in different nations’ economies. It is difficult to tell its impact yet on governments’ decisions worldwide. Nevertheless, its ability to prove useful for a nation like Ukraine presently is likely an upper hand.

Ukraine DAO

The DAO charity project is a collaboration of diverse artists backed up by Russian activist Nadezhda Tolokonnikova. Collectively, they have realized an estimate of $6.7million from the sales of 10,000 Ukrainian flag NFTs on the ETH platform. This fund is fully directed towards the “Come Back Alive Organization” for the army and other participants of the war.

Save The Children

This project seeks to assist families and the more than 7 million Ukrainian kids who have found themselves in the middle of this crisis. There have been donations towards this project amounting to $19 million, inclusive of cryptocurrency. The organization is open to more of these donations through any of the crypto coins.