Ukraine DAO raises over $6M by NFT sale to abet Ukrainian electorate

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One week into the Russia-Ukraine conflict, the group within the help of Ukraine DAO announced their efforts will trudge to local NGO Near Befriend Alive.

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Ukraine DAO raises over $6M via NFT sale to aid Ukrainian citizens

UkraineDAO, the decentralized self sustaining organization created by Pussy Revolt’s Nadya Tolokonnikova, Trippy Labs and PleasrDAO members, crowdfunded 2188 ETH, or $6.1 million, for a 1/1 Ukrainian flag NFT. Proceeds will trudge to nonprofit organizations in Ukraine which are helping these laid low with the Russian invasion.

The NFT sale was as soon as hosted as a PartyBid auction, allowing folks to pool sources and voice collectively for fractionalized ownership of the digital Ukrainian flag. Contributors will receive ERC-20 tokens within the invent of LOVE tokens looking on the donation quantity. On the time of writing, the NFT has now not been fractionalized and the funds accept as true with now not yet been disbursed.

1- $LOVE TLDR (and thread)

✅ Funds (over $6M / 2100ETH) safu within the ukrainedao.eth multisig

✅ We are going to supply you the option to combine partybid contributions & voice ETH contributions with a snapshot the next day at 6AM EST

✅ $LOVE tokens disbursed the next day night

— UkraineDAO (@Ukraine_DAO) March 2, 2022

In a Twitter Areas session hosted put up-sale nearby, co-founders Crypto Steve and Tolokonnikova stated their mission is to leverage the energy of the crypto neighborhood to support these who need it the most.

CryptoSteve, as he’s known on Twitter, stated that UkraineDAO came together ensuing from folks that “upright began elevating their fingers, being of carrier and selfless.” He stated that the noble thing a pair of DAO is its capacity to construct a brand unique paradigm for fundraising and added that his key studying from UkraineDAO has been:

“Ought to you wanna fabricate one thing happen, you upright originate reaching out to visitors. The truth that the Web3 dwelling has mobilized sooner and on the magnitude that international locations enact is colossal remarkable.”

When asked how UkraineDAO came to the solution to distribute the proceeds of the sale, Tolokonnikova stated that it came to respecting every person’s voices for the length of the DAO. After reaching out to numerous local nonprofits, she stated, they advantageous that Near Befriend Alive, a Ukrainian nonprofit that affords tools for the army, was as soon as the “most depended on and fantastic” different.

On the other hand, they made up our minds that the cash might be channelled handiest in the direction of scientific help, and now not in the direction of the militia tools. Tolokonnikova added that the next drag sooner than sending the funds is to fabricate determined that the nonprofit’s pockets is put together successfully and securely. 

Related: Anti-battle Russians originate donating crypto to toughen Ukraine

On Wednesday, Ukrainian Vice Prime Minister Mykhailo Fedorov announced that the nation plans to proceed elevating cash thru the sale of NFTs, having raised a entire of almost $40 million to this point. Ukraine DAO is quiet accepting voice crypto donations.