Amid conflict, NFT projects already seek to rebuild Ukraine

The recent invasion of Ukraine has put the world in a state of uncertainty, turmoil and geopolitical risk. Volatility in the global financial markets has caused immense losses to millions of investors. With rising global inflation, fear of tapering liquidity, and increasing interest rates by the United States Federal Reserve, havoc is spreading across the global economy.

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. With Visa and Mastercard halting their Russian operations, there will be further untold consequences for the interoperability of their payment systems and the everyday citizens who rely on them.

Amid all these uncertainties, cryptocurrencies and other assets such as nonfungible tokens (NFT) are playing a pivotal role in trying to mitigate the fallout from 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. So far, it has raised over $6.7 million to support 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. The artists represent some of the most prominent galleries in the country, including Port Agency, Izolyatsia and Ugallery. Bidding for each NFT will start at 0.08 ETH. They aim to raise at least $1 million.

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

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. Funds are currently being raised through an online auction. 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.