As news of the war in Ukraine began dominating radio and social media headlines, a group of crypto activists and enthusiasts quickly rallied in support of Ukraine.
How do they support it? For example, auction an NFT of the Ukrainian flag.
The Ukraine DAO (Ukrainian Decentralized Autonomous Organization) raised 2,258 ETH (approximately $6.75 million at the end of the auction) in an auction that began on February 26 and ended on March 2.
Ukraine DAO was launched last month by Alona Shevchenko, a Ukrainian activist living in the UK. Shevchenko said the decision to start the decentralized group came after she got in touch with Nadya Tolokonnikova, a member of the digital artist collective PleasrDAO and founder of the conceptual protest art group Pussy Riot.
Nadya Tolokonnikova of Pussy Riot said the use of the Ukrainian flag was for unity.
Donations to the Ukraine DAO also came from some unexpected sources, including the adult website OnlyFans. According to data from blockchain tracker Etherscan, the site sent 500 ETH (approximately $1.41 million) to Ukraine DAO from its unique ETH address on Feb. 27. Ukraine DAO stated that all donors will receive an NFT named "POAP", which means an important event.
According to analytics site Elliptic, as of March 2, more than $54.7 million in more than 102,000 cryptocurrency donations went to the Ukrainian government and NGOs in support of the Ukrainian military.
Among them, Polkadot founder Gavin Wood donated $5.8 million to Ukraine and a CryptoPunk NFT worth more than $200,000.
By Jason Nelson
Source: https://decrypt.co/94353/ukraine-daos-flag-nft-sells-for-6-75-million
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