The UkraineDAO, as it states on its website, is the largest NFT-based crypto contribution to Ukraine’s war efforts, till date. Having raised more than $6 million by auctioning a Ukraine flag NFT, this seems to be one of the most successful efforts of war support.
The UkraineDAO was formed by Trippy from Trippy Labs, Nadya from Pussyriot and PleasrDAO and the auction started on 26th February, shortly after Putin attacked Ukraine. The organisation crowdfunded 2258 Ethereum or $6.79 million for a 1/1 Ukrainian flag NFT.
The sale was hosted as a PartyBid auction, allowing people to pool their resources and bid collectively for fractionalised ownership of the NFT. The participants received ERC-20 tokens in the form of LOVE tokens depending on the amount contributed, which represents ownership of the NFT.
The organisation saw contributions from various different sources, from individuals to the adult website OnlyFans. Although the NFT sale is over, the UkraineDAO is still receiving direct crypto donations.
The organisation plans to donate the entire amount raised to a local non-profit called Come Back Alive, which will use the funds to provide medical aid to the Ukrainian military. A total of $54 million has been raised through cryptocurrency donations by the Ukrainian government till date.
However, not everything is as transparent as it seems. The Ukrainian government announced an Airdrop on 2 March which led to an influx of crypto donations. Changing tunes, the government has now revoked the Airdrop and announced the launch of NFTs.
