As Russian bombs fall on Ukraine and reports of deaths are can be found in, the worldwide neighborhood has actually been struggling to set in motion resources and send out funds to different companies in order to support Ukraine’s army. For that reason, it might not amaze many to understand that there’s currently an NFT collection focused on fulfilling this requirement.

Do-NATIONs and more

A self-described “Web3 effort”– RELI3F UKR– has been selling NFTs with the pledge that all earnings from primary sales will go towards relief efforts in Ukraine, along with some secondary sales earnings. According to OpenSea, the floor rate was about 0.053 ETH and at press time, the trading volume had to do with 456 ETH.

But here was the catch. As is the case with lots of popular NFT tasks, the frenzy of interest activated an astronomical rise in gas prices. Early morning on 26 February, the typical gas rate shot past 1,300 gwei, prior to hanging back down to below 100 gwei.

Source: pro.nansen.ai For its part, RELI3F appeared to pat itself on the back, and tweeted,

“And we are sold out. 0.05 eth x 37 artists x 200 editions = 370 eth. Over a million dollars raised for individuals of Ukraine in 30 seconds. This is the power of web3. From the bottom of our hearts, thank you.”

While remarkable, numerous donators were dissatisfied by the money they lost on gas charges, claiming the funds could have gone to the Ukrainian individuals rather.

Crypto donations have been a popular option for those who want to financially support Ukrainian relief groups and even the armed force. One price quote reported that more than $4 million had been sent out in Bitcoin donations to the army.

Are you a DAO-ting Thomas?

NFTs have varied usage cases, but ‘humanitarian tools for fundraising’ is certainly an unforeseen one. Simply this month, a group of self-identified “cypherpunks” came together to develop AssangeDAO. The DAO raised over $45 million in ETH to bid on an NFT and raise funds for Wikileaks founder Julian Assange’s legal defense.

Nevertheless, critics of NFT-based fundraising have actually lamented the loss of contributions through elegant gas fees.

Contributing to that, the World Wildlife Fund’s current venture into the NFT market with its “tokens for nature” collection minted on the Polygon blockchain likewise got international backlash due to environmental issues.

In addition, the Associated Press chose to review its endeavor to turn a video– including migrants on a crowded sea boat– into an NFT for its own NFT market. This once again came after journalists and researchers slammed the news company for apparently making money from people’s discomfort.

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