Russia’s invasion of Ukraine has turn out to be “the world’s first crypto battle”, because the Washington Submit adroitly referred to as it. And, following a name out from the Ukrainian authorities on Twitter, the nation has to date racked up an estimated $40m in crypto donations, with NFTs contributing greater than $7m to this whole.
On 2 March, an NFT of the Ukrainian flag bought to a pool of donors for two,250 ETH ($6.75m). The flag was auctioned by Ukraine DAO, a kind of community-led entity with no central authority, which was co-founded by Russian Pussy Riot member Nadya Tolokonnikova on 24 February. Proceeds are being donated to Come Again Alive, which can distribute meals, medical provides and different mandatory companies to civilians and the Ukrainian army. Donations are nonetheless being accepted.
In the meantime, the New York-based artist Olive Allen, who’s of Russian origin, is auctioning a chunk titled НЕТ ВОЙНЕ (No to the Battle), of a blue bear with yellow options holding up a placard. She is one among 59 artists to have donated a piece as a part of an initiative by Time journal and OpenSea NFT market. Posting on Instagram, Allen wrote: “I’m Russian and I stand in solidarity with the folks of Ukraine. It breaks my coronary heart 💔 to see what is occurring proper now. I’m in opposition to this devastating battle and Russian authorities. Putin has really misplaced his thoughts and his actions don’t have any justification. I stand for Peace and Freedom. Right now and each day.”
There are issues, nonetheless, that Russia might use cryptocurrency to swerve Western sanctions. However, for now, it seems Ukraine is benefiting vastly from the convenience with which digital cash might be moved throughout borders.
Source: The Art News Paper
