Crypto Innovations, especially NFT sales bringing shift in traditional fundraisings

Since the war between Russia and Ukraine started, every possible help is reaching Ukraine; fundraising through NFT sales and sending crypto assets

The generation who knows about the war-like situations only in history books experienced only in movies now sees the same happening as the Russia-Ukraine War. Here one thing that is quite clear is that war comes out from and even continues by human activities, but as it turns out, it gets relieved and stopped because of human interventions like bringing help to refugees, people injured from war, etc. 

The current ongoing conflict between Russia and Ukraine repeats the same procedure that wars usually follow. However, the medium of bringing help to those in need seems like seeking a shift citing crypto innovations like NFT sale and digital assets for fundraising and transfer crypto to Ukrainian citizens. 

Till the day beginning needed support and help going parallel to the war. During the whole situation, NFTs emerged as something showing humanity’s brighter side as support does not believe in boundaries between nations, nor does these crypto innovations. The war situations have seen traditional ways of fundraising overpassed by new ways to do the same via using NFTs sales. 

As the war went on, crucial people worldwide started gathering to provide their possible support to Ukraine. In between chaotic situations of conflict where funds were needed to help the injured and refugees, NFTs raised the required capital. For instance, crowdfund generated by UkraineDAO of almost 2100 ETH by 2nd March totals more than $6 million. The organization raised funds by putting an NFT on sale consisting of a Ukrainian Flag. The event was initiated by Nadya Tolokonnikova, a Russian artist and activist member of Pussy Riot, an anarchist feminist group. The fund generated was the biggest fundraiser for Ukraine to date. 

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Another biggest example was the NFT sale by RELI3F.xyz. According to the OpenSea data, the NFT sale raised 699 ETH, totals for more than $1.7 million. As far as RELI3F is concerned, it’s a humanitarian help initiative founded by digital and NFT artists who came together to support the Ukrainian people. 

Support of NFT artists has also been seen in different forms as they show their protest against Russia to support Ukraine. Such an example of a Russian NFT artist Olive Allen. She made headlines when she burnt her Russian Passport to express her support and said that she is a Russian artist and is in unity with the Ukrainian people. She burned her Russian Passport to create a Passport burning NFT. Funds generated by the sale of the NFT will be donated to the fund of SavetheChildren Ukraine. 

Apart from this, funds and NFTs have also been directly sent to Ukraine. For example, the well-known NFT, Bored Ape Yacht Club’s team has sent $1 million worth ETH to the official wallet of the Ukrainian government on 8th March. This fund was sent in addition to almost $1 million in ETH, which team members had already sent individually. On top of that, the BAYC team has sent a whole NFT valued at $200,000. 

Similarly, a fund of almost $1.8 million was sent from the AssangeDao NFT sale. A group was created to support imprisoned Julian Assange, WikiLeaks founder and activist. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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