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

UkraineDAO is a decentralized autonomous company that was created by Pussy Riots Nadya Tolokonnikova and Trippy Labs members. It crowdfunded 2188 Ethereum, or $6.1 Million, to buy a 1/1 Ukrainian flag NFT. Earnings will be contributed to charities in Ukraine that assist those who have been affected by the Russian intrusion.

PartyBid hosted the NFT sale. This allowed individuals to pool their resources and bid together for fractionalized ownership. ERC-20 tokens will be offered to contributors as LOVE tokens, depending on the quantity of the contribution. The NFT is not being fractionalized at the moment and funds have not yet been distributed.

1- $LOVE TLDR (and thread) Funds (over $6M/ 2100ETH) safu in the ukrainedao.eth multisig We will integrate partybid contributions & direct ETH contributions with a photo tomorrow at 6AM EST $LOVE tokens distributed tomorrow evening https://t.co/It87H0mTYi
— UkraineDAO (@Ukraine_DAO), March 2, 2022

They chose, however, that the cash would be used only for treatment and not for military devices. Tolokonnikova said that prior to the cash is sent out, it is very important to guarantee that the wallet of the nonprofit is safe and properly established.

CryptoSteve, as they are known on Twitter, mentioned that UkraineDAO was created due to the fact that of people who “just started raising cash, being generous and selfless.” He stated that the charm and potential of a DAO to change fundraising paradigms is what makes it so special.

You can connect to your buddies if you wish to make it take place. It is amazing that the Web3 space has actually had the ability to activate quicker than countries and with the same magnitude.

Co-founders Crypto Steve, Tolokonnikova and nftnow.com hosted a Twitter Spaces session. They mentioned that their mission was to harness the power of crypto to help those in greatest requirement.

Tolokonnikova answered the question about how UkraineDAO chose to distribute the profits from the sale. She stated that they reached out to numerous local nonprofits and figured out that Come Back Alive was the most trusted and most effective option.

Comparable: Anti-war Russians begin contributing crypto to Ukraine

Mykhailo Fedorov, the Ukrainian Vice Prime Minister, announced Wednesday that the country will continue to raise money through the sale NFTs. The country has raised almost $40 million so far. Ukraine DAO still accepts direct crypto contributions.
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UkraineDAO is a decentralized autonomous company that was created by Pussy Riots Nadya Tolokonnikova and Trippy Labs members. It crowdfunded 2188 Ethereum, or $6.1 Million, to purchase a 1/1 Ukrainian flag NFT. Tolokonnikova addressed the question about how UkraineDAO decided to distribute the proceeds from the sale. Mykhailo Fedorov, the Ukrainian Vice Prime Minister, announced Wednesday that the country will continue to raise money through the sale NFTs.

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