UkraineDAO Donations Cross $6M As Ukraine Flag NFT Sells for $6.75M

Key Insights:

• UkraineDAO exceeded $6 million in donations as of today.
• The Ukrainian Flag fractionalized NFT also sold for over 2,250 ETH.
• NFT sale contributors will be receiving valueless LOVE tokens in the form of memorabilia.

Aid for Ukraine continues to grow as the world witnessed the tragedy of Russia’s invasion. To support their fight, donations began coming in first as fiat, then crypto.

Now donations are also coming in as NFTs, and their generosity is being rewarded. 

Ukraine Sends LOVE

UkraineDAO, in its recent Ukrainian flag sale, managed to snag up to 2250 ETH worth about $6.75 million. This flag NFT has been said to be a fractionalized NFT.

NFTs of such type is a single asset divided into multiple units which multiple people can own. Following this format, the Russian art collective Pussy Riot managed to sell the Ukrainian NFT flag to 3,271 donors.

UkraineDAO announced that they would soon be airdropping LOVE tokens to the contributors in response to the same.

Every donator will be receiving the same amount of LOVE tokens as the Ethereum they donated. Although the airdrop was supposed to go out a few hours ago, it got delayed.

But at the time of writing, the decentralized autonomous organization seems to have distributed all the LOVE tokens.

❤️ 🇺🇦 Update – All $LOVE has been dispersed to contributors to the party bid and direct donations.

You can of course still donate directly to ukrainedao.eth , but the snapshot for $LOVE is complete and fully dispersed.

— UkraineDAO (@Ukraine_DAO) March 3, 2022

UkraineDAO has been very clear about the token that it has no utility or value in any way. The only purpose it serves is a reminder of the contributions donors made. 

The DAO stated that they would soon develop more NFT sales to raise money for war efforts.

Along with NFT contributions, the DAO has been raising money through crypto donations. As of yesterday, over $6 million had been raised by the DAO.

Donations have been coming in Bitcoin, Ethereum, Polkadot, Dogecoin, Litecoin, and many more currencies beyond fiat.

Development of the War

Both the countries’ delegations on March 3 got together for the second time to discuss ceasefire negotiations but failed to reach a consensus.

Russia stands clear on its demand for Ukraine’s demilitarization and abandoning the thought of joining NATO. But since both the conditions sound improbable, the war rages on.