The recent invasion of Ukraine has left the world in a state of uncertainty, turmoil and geopolitical risk. The volatility in the global financial markets has brought huge losses to millions of investors. With rising global inflation, fears of a liquidity squeeze and rising Federal Reserve interest rates, chaos is spreading across the global economy.
In addition, the disconnection of SWIFT messaging services for leading Russian banks is causing concern among entrepreneurs in the country and is also affecting other economies with strong Russian trade ties. As Visa and Mastercard cease operations in Russia, there will be further untold consequences for the interoperability of their payment systems and the everyday citizens who rely on them.
Amidst all these uncertainties, cryptocurrencies and other assets such as non-fungible tokens (NFT) are playing a crucial role in trying to mitigate the fallout from the conflict in Ukraine.
A collaboration between Nadezhda Tolokonnikova, digital artist Trippy Labs and artist collective PleasrDAO, Ukraine DAO has sold 10,000 NFTs of the Ukrainian flag on the Ethereum network, along with a one-of-a-kind NFT of the flag. So far it has raised over $6.7 million to support the military of Ukraine.
An NFT of the Ukrainian flag was sold for 2,258 ether (ETH) ($6.5 million at press time) through a service called Party Bid. All proceeds from the NFT sale went to the Come Back Alive organization, which supports the Ukrainian military, volunteers and their families.
2250 ETH / $6.75M USD CONTRIBUTED TO UKRAINIAN FLAG NFT
Thanks to everyone who supported our project
Next Steps: POAP for everyone who donated to partybid, work with Come Back Alive to send money securely
You can still donate ETH directly to ukrainedao.eth pic.twitter.com/GsQBLzHIVK
— UkraineDAO.eth (@Ukraine_DAO) March 2, 2022
save the children
7.5 million children in Ukraine are caught in the midst of this conflict, risking displacement, trauma, prolonged educational disruption and loss of family income. Save the Children raised medium to help the families worst hit by the crisis in Ukraine. The initial 19 million dollars The value of views on his donation page includes crypto contributions. The organization accepts more than 60 types of cryptocurrencies, including Bitcoin (Bitcoin), ETH, USD coin (USDC), Cardano (ADA) and Dogecoin (DOGE).
Over 500 Ukrainian artists gathered Submitting art for a new NFT collection to be sold through Holy Water to raise money for the people of Ukraine. The artists represent some of the country’s best-known galleries, including Port Agency, Izolyatsia and Ugallery. Bidding for each NFT starts from 0.08 ETH. They aim to raise at least $1 million.
Waone Interesni Kazki
A well-known contemporary Ukrainian artist, Vladimir Manchos, aka Waone Interesni Kazki, sells NFTs of his most famous paintings inspired by surrealists and Ukrainian folk tales. 50% of the money raised will be used for defense and medical supplies through Ukrainian war aid organizations.
The goal is to raise $7,000 from NFTs of paintings such as The Seed of a Good Idea, Beta to Alpha Transition, and Prisoned Mind. These are Edition 1 NFTs that sell for $290 each.
NFT sale of AITX
Artificial Intelligence Technology Solutions Inc (AITX) announced it will be raising money for Ukraine’s humanitarian aid through two avenues, the first of which is an minted NFT, which is the image a Roameo from Robotic Assistance Devices. Funds are currently being raised via an online auction. The second way is a GoFundMe page founded by CEO Steve Reinharz to raise funds for a Ukrainian aid organization reportedly verified by the International Red Cross.
Wladimir Klitschko’s NFT
Olympic champion and boxing icon Wladimir Klitschko brought out an NFT collection in collaboration with artist WhlsBe. The collectibles will be available in a tiered pricing model of $100, $1,000 and $10,000. The funds from the sale go directly to Ukraine.
Ukraine’s NFTs for Defense
Mykhailo Fedorov, Ukraine’s Deputy Prime Minister, announced that the government would do so Issuing NFTs to fund their military operations. The appeal raised approximately $54.7 million for the Ukrainian government and non-governmental organizations of Ukraine, with a smaller amount going to the Come Back Alive organization.
After careful consideration, we have decided to cancel Airdrop. Every day there are more and more people willing to help Ukraine resist aggression. Instead, we will soon be announcing NFTs in support of the Ukrainian Armed Forces. We have NO plans to issue fungible tokens
— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022
Led by crypto artists and prominent NFT influencers, the humanitarian Web3 initiative is Reli3F initiated A major NFT auction featuring works by 37 artists including Danny Cole, Vinnie Hager, Sartoshi, Gremplin, Ravi Vora and more. All proceeds from the sale went directly to the relief efforts in Ukraine. Within 30 seconds of its initial launch, the NFT project sold out, raising over $1 million.
TIMEpieces, a Time Magazine Web3 NFT community initiative, announced exhibition, “Make art, not war.” 100% of the proceeds from the exhibition will be used for humanitarian relief efforts in Ukraine. According to Time, collectors have minted over 10,000 NFTs from 99 collages of images – with each collage representing a year in Time’s 100-year history.
Forza Iconia has helped raise funds for various charities in Ukraine including Doctors Without Borders and Amnesty International. Launched by the Kyiv and Gothenburg-based incubator, the Stand with Ukraine NFT project consists of over 43,287,512 editions by artist Felipe Posada. Each issue represents a citizen of Ukraine and is sold for only $10 per issue.
Conditions can be Bought by credit or debit card, and all sales go to the platform’s chosen charities. To date, Forza Iconia has raised over $264,000.
the ArtWarks Ukraine The NFT project was founded by a group of Ukrainian IT entrepreneurs, art historians, artists and media designers with the aim of raising money for charitable purposes for the civilian population and the Ukrainian military. The project has listed 57 “ArtWaRks”. Open seaeach selling for around 0.07 ETH or $182.
One of the ArtWaRks in this NFT project comes from former Minister of Culture and Sport Vladimir Borodyansky. Other contributors include IT entrepreneur Ruslan Nonka; the co-founders of the NGO Museum of Contemporary Art, Yulia Gnat and Olga Balashova; and many other Ukrainian artists.
The final result
Many cryptocurrency investors see the Russia-Ukraine conflict as a tipping point that could cement the usefulness of cryptocurrencies and blockchain technology in people’s minds, although it’s too early to tell if this will change the narrative of how Governments around the world see crypto assets and NFTs. What we do know is that digital assets like NFTs help a country in need raise funds to defend its borders.
Innovations of this magnitude don’t happen too often, and as blockchain creeps into global consciousness as a robust and valuable financial technology, NFTs could achieve far more than they already have.
https://cointelegraph.com/news/amid-conflict-nft-projects-already-seek-to-rebuild-ukraine Amid conflicts, NFT projects are already aiming to rebuild Ukraine