NFTs, cryptocurrencies and now DAO join Ukraine's crowdfunding appeal

Crypto assets are playing a pivotal role in raising funds for Ukraine's resistance against the Russian invasion. The global crypto community has rallied to support Ukraine amid the crisis. Here is a list of various crypto assets accepted by Ukraine in one of a kind crowdfunding.

Cryptocurrencies

Bitcoin, Ethereum, and USDT Tether became the first cryptocurrencies accepted by the Ukrainian government.

The country created a DOT wallet address after being urged by the founder of Polkadot, Gavin Wood. Wood promised to donate $5 million worth of DOT if the government began accepting Polkadot.

Vice Prime Minister of Ukraine Mykhailo Fedorov announced recently that the country would start accepting two new cryptocurrencies as well to raise funds for the Ukrainian armed forces.

Federov announced in a tweet on Tuesday that Ukraine has set up an official wallet address for donations in Solana.

The Vice Prime Minister also announced in a tweet on Wednesday that the country has started accepting Dogecoin after the Russian Rouble fell as compared to the value of the meme coin.

NFTs

Non Fungible Tokens or NFTs are also being used to crowdfund Ukraine's struggle. The country received $1.86 million after the sale of 'Censored NFT', created by digital artist Pak in collaboration with Julian Assange. A CryptoPunk NFT worth over $200,000 was donated to Ukraine. People are also sending NFTs to the Ukrainian government’s Ethereum account.

DAO

Russian pop artists from the band Pussy Riot and crypto enthusiasts formed a Decentralised Autonomous Organization or DAO called the UkraineDAO to raise funds for the non-governmental organization, Come Back Alive, which would be supporting the Ukrainian armed forces.

UkraineDAO raised $6.5 million in ETH after auctioning off an NFT of the Ukrainian flag. This has been the 10th most expensive NFT ever sold. The proceeds were passed on to Come Back Alive.

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