The recent invasion of Ukraine has put the world in a state of uncertainty, turmoil and geopolitical risk. The volatility in the global financial markets has caused immense losses to millions of investors. With global inflation rising, fears of dwindling liquidity, and interest rates being raised by the US Federal Reserve, chaos is spreading throughout the global economy.
In addition, the untying of SWIFT messaging services for major Russian banks is causing concern among the nation's businessmen and is also affecting other economies with strong commercial ties to Russia. With Visa and Mastercard stopping their operations in Russia, there will be further untold consequences for the interoperability of their payment systems and the ordinary citizens who depend on them.
Amid all these uncertainties, cryptocurrencies and other assets such as non-fungible tokens (NFTs) are playing a critical role in trying to mitigate the fallout from the conflict in Ukraine.
Ukraine DAO
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 unique NFT of the flag. Until now, it has raised over $6.7 million to support the Ukrainian army.
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. Everyone product of the NFT sale went to the Come Back Alive organization that helps the Ukrainian military, volunteers and their families.
2,250 ETH / $6.75M USD CONTRIBUTED TO UKRAINIAN FLAG NFT
Thanks to everyone who supported our project
Next steps: POAP for all those who donated to partybid, please work with Come Back Alive to transfer funds securely
You can still donate ETH directly to ukrainedao.eth pic.twitter.com/GsQBLzHIVK
โ UkraineDAO.eth (@Ukraine_DAO) March 2, 2022
save the children
7.5 million children in Ukraine are caught in the middle of this conflict, at risk of displacement, trauma, prolonged interruption of education and loss of family income. Save the Children has raised money to help the families most affected by the Ukraine crisis. the initial $19 million The value of appeals on your donation page includes crypto contributions. The organization accepts more than 60 types of cryptocurrencies, including Bitcoin (BTC), ETH, USD currency (USDC), Cardan (THERE ARE) and Dogecoin (DOGE).
Holy Water
More than 500 Ukrainian artists gathered to submit art to a new NFT collection sold through Holy Water to raise funds for the people of Ukraine. The artists represent some of the country's most prominent galleries, including Port Agency, Izolyatsia and Ugallery. Bidding for each NFT will start at 0.08 ETH. His goal is to raise at least $1 million.
See Interestni Kazki
A well-known contemporary Ukrainian artist, vladimir manzhos, also known as Waone Interesni Kazki, sells NFTs of his most famous paintings, which are inspired by Ukrainian surrealists and folktales. Of the money raised, 50% will go towards defense and medical supplies through Ukrainian war charities.
The goal is to raise $7,000 worth of NFTs from paintings like "The Seed of a Good Idea," "Beta to Alpha Transition," and "Prisoned Mind." These are 1/1 edition NFTs, each of which retails for $290.
AITX NFT Sale
Artificial Intelligence Technology Solutions Inc (AITX) announced that it would raise money for Ukraine's humanitarian aid through two avenues, the first of which is a minted NFT containing the image of a Roameo produced by Robotic Assistance Devices. The funds are currently being raised through an online auction. Second Avenue is a GoFundMe Page which has been set up by CEO Steve Reinharz to provide funds to a Ukrainian aid organization, reportedly verified by the International Red Cross.
Wladimir Klitschko's NFT
Olympic champion and boxing icon Wladimir Klitschko published an NFT collection in collaboration with artist WhlsBe. The collectibles will be available to mint in a tiered pricing model of $100, $1,000 and $10,000. The funds from the sale will go directly to Ukraine.
Ukrainian NFT for defense
Mykhailo Fedorov, Deputy Prime Minister of Ukraine, announced that the government issue NFTs to help finance their military operations. The appeal raised around $54.7 million for the Ukrainian government and Ukrainian non-governmental organizations, with a smaller amount going to Come Back Alive.
After careful consideration, we decided to cancel the airdrop. Every day there are more and more people ready to help Ukraine to fight against aggression. Instead, we will soon announce NFTs to support the Armed Forces of Ukraine. We have NO plans to issue fungible tokens
โ Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022
Reli3F
Led by crypto artists and prominent NFT influencers, the Web3 Reli3F humanitarian initiative initiated a huge NFT sale that featured pieces from 37 artists including Danny Cole, Vinnie Hager, Sartoshi, Gremplin, Ravi Vora and more. All proceeds from the sale were sent directly to Ukraine relief efforts. Within 30 seconds of the initial launch, the NFT project sold out and raised over $1 million dollars.
WATCHpieces
TIMEpieces, an initiative of Time magazine's Web3 NFT community, announced a exposition, "Make art, not war." 100% of the proceeds raised from the exhibition will go towards humanitarian relief efforts in Ukraine. According to Time, collectors have minted more than 10,000 NFTs from 99 collages of images, with each collage representing a year in Time's 100-year history.
force icon
force icon he has been helping to raise funds for various charities in Ukraine, including Doctors Without Borders and Amnesty International. The NFT project "Stand with Ukraine" was launched by the kyiv and Gothenburg-based incubator, consisting of more than 43,287,512 editions by artist Felipe Posada. Each edition represents a citizen of Ukraine and is sold for only $10 per edition.
Edits can be bought with a credit or debit card, and all sales go to the platform's selected charities. So far, Forza Ikonia has raised over $264,000.
ArtWaRks Ukraine
the ArtWaRks Ukraine The NFT project was created by a group of Ukrainian IT entrepreneurs, art historians, artists and media creators with the aim of raising money for charitable aid towards Ukrainian civilians and the Ukrainian military. The project has 57 "ArtWaRks" listed in Open seaand each one sells for around 0.07 ETH or $182.
One of the ArtWaRks in this NFT project is from the former Minister of Culture and Sports, 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 bottom line
Many cryptocurrency investors see the Russia-Ukraine conflict as a game changer that could cement the usefulness of cryptocurrencies and blockchain technology in people's minds, though it's still too early to tell if this will alter the narrative on how governments from all over the world see crypto assets. and NFTs. What we do know is that digital assets like NFTs are helping a struggling country raise funds to defend its borders.
Innovation on this scale doesn't happen too often, and with blockchain technology creeping into the global consciousness as a robust and valuable financial technology, NFTs could achieve much more than they already have.
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