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NFT projects are already working to rebuild Ukraine amid conflict

The recent invasion of Ukraine has placed the world in an environment of uncertainty, turmoil, and geopolitical danger. Millions of investors have suffered huge losses due to volatility in global financial markets. The global economy is experiencing havoc due to rising inflation, fears of tapering liquidity and increased interest rates from the United States Federal Reserve.

Additionally, the delinking of SWIFT messaging services for leading Russian banks is causing concern among entrepreneurs in the nation while also impacting other economies with strong Russian trade ties. Visa and Mastercard have stopped their Russian operations. This will have untold implications for their interoperability and everyday citizens who depend on them. Cryptocurrencies and other assets, such as nonfungible tokens (NFT), play a crucial role in trying to mitigate the effects of the conflict in Ukraine.

Ukraine DAO

A collaboration among 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, alongside a unique NFT of the flag. It has raised over $6.7 Million for Ukraine’s military.

An NFT of the Ukrainian flag 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 that aids the Ukrainian military, volunteers and their families.

2250 ETH / $6. 75M USD CONTRIBUTED TO THE UKRAINIAN FLAG NFT

Thank you to all who supported our project

Next steps: POAP for all those who donated to partybid, work with Come Back Alive on safely transferring funds

You may 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 middle of this conflict, risking displacement, trauma, prolonged interruption of education and loss of family income. Save the Children has raised funds to help the families worst impacted by Ukraine’s crisis. The initial $19 million worth of appeals on its donation page includes crypto contributions. The organization accepts more than 60 types of cryptocurrencies, including Bitcoin (BTC), ETH, USD Coin (USDC), Cardano (ADA) and Dogecoin (DOGE).

Holy Water

Holy Water NFT collection. Source: Twitter

Over 500 Ukrainian artists gathered to submit art to a new NFT collection sold via Holy Water to raise money for the people of Ukraine. These artists are from some of the most prominent galleries across the country, such as Ugallery, Izolyatsia, and Port Agency. Each NFT starts at 0. 08 ETH. They hope to raise at least $1,000,000.

Waone Interesni Kazki

The Seed of a Good Idea. Source: AGallery

A well-known contemporary Ukrainian artist, Vladimir Manzhos, aka Waone Interesni Kazki, is selling NFTs of his most famous paintings, which are inspired by surrealists and Ukrainian folk tales. Of the money raised, 50% will go toward defense and medical supplies via Ukrainian war charities.

The aim 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 1/1 edition NFTs, each of which is selling for $290.

AITX’s NFT sale

Source: AITX

Artificial Intelligence Technology Solutions Inc (AITX) announced it would be raising money for the Ukrainian Humanitarian Relief through two avenues, the first of which is a minted NFT containing the image of a Roameo produced by Robotic Assistance Devices. The online auction is currently raising funds. The second avenue is a GoFundMe page that has been created by CEO Steve Reinharz to provide funds to a Ukrainian aid organization, reportedly verified by the International Red Cross.

Wladimir Klitschko’s NFT

Source: DW, Wladimir Klitschko

The Olympic champion and boxing icon Wladimir Klitschko released an NFT collection collaborating with the artist WhlsBe. The collectibles will be available to mint in a tiered pricing model of $100, $1,000 and $10,000. All proceeds from the sale will be donated to Ukraine.

Ukraine’s NFTs for defense

Mykhailo Fedorov, Ukraine’s vice prime minister, announced that the government would issue NFTs to help fund its military operations. The appeal raised about $54.7 million for the Ukrainian government and Ukrainian non-governmental organizations, with a smaller amount being sent to the Come Back Alive organization.

After careful consideration we decided to cancel airdrop. There are increasing numbers of people who want to help Ukraine fight the aggression every day. We will soon announce NFTs to help the Ukrainian Armed Forces. We DO NOT HAVE any plans to issue any fungible tokens

— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022

Reli3F

Headed by crypto artists and prominent NFT influencers, Web3 humanitarian initiative Reli3F initiated a large NFT sale that included pieces from 37 artists, including Danny Cole, Vinnie Hager, Sartoshi, Gremplin, Ravi Vora and more. All proceeds from the sale went directly to Ukraine relief efforts. Within 30 seconds of the initial launch, the NFT project sold out, raising over $1 million dollars.

TIMEpieces

TIMEpieces, a Web3 NFT community initiative from Time magazine, announced an exhibition, “Make Art Not War.” 100% of the income raised from the exhibition will be sent to 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-long history.

Forza Ikonia

Source: Twitter

Forza Ikonia has been helping raise funds for various charities in Ukraine, including Doctors Without Borders and Amnesty International. The “Stand with Ukraine” NFT project was launched by the Kyiv- and Gothenburg-based incubator, consisting of over 43,287,512 editions by artist Felipe Posada. Each edition represents one citizen of Ukraine and is being sold at just $10 per edition.

Editions can be purchased by credit or debit card, and all sales go toward the platform’s selected charities. So far, Forza Ikonia has raised over $264,000.

ArtWaRks Ukraine

Source: OpenSea

The ArtWaRks Ukraine 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 toward civilians and the Ukrainian military. The project has 57 “ArtWaRks” listed on OpenSea, with each being sold at around 0. 07 ETH or $182. One of the ArtWaRks for this NFT project comes from Vladimir Borodyansky, former Minister of Culture and Sports. Ruslan Nonka, an IT entrepreneur; Yulia Ganat and Olga Balashova, co-founders of NGO Museum of Contemporary Art; and many others from Ukraine are also contributing.

The bottom line

Many cryptocurrency investors view the Russia-Ukraine war as a game changer that could cement the utility and use of cryptocurrencies and Blockchain technology in people’s heads. However, it’s too early to know if this will change the perceptions of governments around the world about crypto assets and NFTs. We do know that NFTs, digital assets, are helping countries in financial distress to raise funds to defend their borders.

Innovation at this scale is rare, and blockchain’s rise to prominence as a valuable financial technology means that NFTs can do far more than they have.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
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