How The Cryptocurrency And NFT Communities Are Rallying Financial Support For Ukraine And Its Artists

The invasion of Ukraine by Russia has led to many showing their support for the military and people of Ukraine. The cryptocurrency and non-fungible token communities are among the sectors showing financial support.

NFT Artists Step Up: A group called RELE3F was launched Friday, featuring 27 artists pledging work to be minted to help support Ukraine.

“Relief is a humanitarian aid initiative founded by NFT/web3 artists collaborating to support the people of Ukraine,” the group said.

The group pledges to donate 100% of funds from the primary sales to relief efforts in Ukraine. Royalties from secondary sales will go back to the artists. Many of the artists that are not based in Ukraine have pledged secondary sales money to go towards relief efforts as well.

“In a crisis where time is of the essence, web3 allows us to collaborate with artists + collectors to get funds where they are most needed. And because of the blockchain, we can provide full transparency.”

Among the artists featured in the project are Danny Cole (Creatures), Clon (Cool Cats), SuperGremplin (Cryptoadz), Sartoshi (mfers), Smiless, Vinnie Hager and the team behind recently minted Starcatchers.

The project will offer 200 editions of each piece with a cost of 0.05 Ethereum ETH/USD. The mint will be blind with a max of two transactions. The mint date and time have not been announced.

Well-known feminist punk rock group Pussy Riot announced the launch of Ukraine DAO in partnership with Trippy Labs and PleasrDAO members.

“Our goal is to raise funds to donate to Ukrainian civil organizations who help those suffering from the war that Putin started in Ukraine,” Pussy Riot tweeted. “We’ll be buying an NFT of the Ukrainian flag.”

The groups plan on launching 10,000 Ukrainian flag NFTs minted on Ethereum, with proceeds going to the Return Alive Foundation. An additional unique NFT of the flag will also be released in the future.

Several threads were also created on Twitter showing NFTs from Ukrainian artists and calling on artists to post work, so it could be purchased to help them during the crisis.

Related Link: FTX Gives $25 To Each Ukrainian Account Holder 

Cryptocurrency Donations: A Ukrainian non-governmental organization called “Come Back Alive” has amassed donations of Bitcoin BTC/USD worth millions of dollars. The group is crowdfunding for Ukrainian armed forces on various platforms.

Data from Blockchain.com shows donations totaling over $4.8 million, including one single donation of $3 million.

“All funds received by the Charitable Foundation are used exclusively for the needs of the army,” the organization says on its website. A live spreadsheet is used to track transactions made.

Cryptocurrency platform FTX founder Sam Bankman-Fried announced that his company gave $25 to each Ukrainian account holder on the FTX platform.