The Dao successfully managed to raise $6.75 million selling Ukrainian Flag NFT

DAO goes by the name Ukraine DAO organized an auction for selling NFT depicting the Ukrainian flag to raise funds

The war between Russia and Ukraine has made a lot of headlines through social media and online news websites. The war made the environment where people put their thoughts either in support of Russia or Ukraine. However, Ukraine is getting more support and praise from worldwide as empathy.

Crypto community and enthusiasts also chose to pay their contribution in their way. The way they took contains both the feeling of solidity and empathy with Ukraine and reflects their role via generating funds in non-traditional ways to help them.

In February, a Ukrainian activist from England, Alona Shevchenko, decided to form a decentralized autonomous organization and named it Ukraine DAO. To create Ukraine DAO, Alona says that she connected with members of PleasrDAO, a community of digital artists, and Nadya Tolokonnikova, the founder of a conceptual protest art group named Pussy Riot.

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Nadya Tolokonnikova said that behind the idea of using the Ukrainian flag was to emerge from feelings of Solidarity and unity. She said that this was not about specific art, aesthetics, or artists; instead, it’s purely a gesture of Solidarity.

Ukraine Dao organized the auction to begin on February 26 that lasted till March 2. The DAO has successfully raised around $6.75 million worth of ETH, which goes as 2,258 ETH. Although after the market dip, the current amount has dropped to approx $6.4 million.

This was a huge amount that Ukraine DAO managed to raise in such a short span. Alano Shevchenko said that this is exactly what DAOs meant for, using the power of blockchain tech and bringing changes offline in the real world.

There are so many transactions being made as donations in support of Ukraine all over the world. To date, over %54,7 million worth of cryptocurrencies have been donated through 102,000 donations. The donations have gone directly to the Ukrainian government and NGOs supporting the Ukrainian military.

Some worth mentioning crypto donations have been made from Gavi Wood, founder of Polkadot, who donated approx $5.8 million and $200,000 worth of CryptoPunk NFT.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing