Ukraine’s NFT auction has come to a very profitable end: On Wednesday, the country raised $6.75 million in ETH after a three-day bidding process for an image of its flag.
The bidding process began on February 26, when the NFT flag was listed. It ended on March 2, at a sale of 2,174 ETH. A long list of over 3,000 small contributors helped push that number up to 2,258 ETH. Although it was worth $6.75 million at the time, it is now worth $5.69 million due to a decline in the value of ETH since Wednesday. The funds were raised through Partybid, a service that allows people to pool their assets into “pools” to bid on NFTs. UkraineDAO’s next plans are to use a POAP (Proof of Attendance Protocol) for all users who contributed to the DAO and to help transfer the funds securely to support the Ukrainian military. The organizers are working closely with Come Back Alive, the largest foundation supporting the Ukrainian armed forces. The new funds are in addition to the more than 240 Bitcoin and 6,500 ETH that Ukraine has raised from direct donations. Combined with Polkadot founder Gavin Wood’s $5 million DOT donation, that’s more than $30 million at current prices. Ukraine recently canceled plans for a symbolic airdrop to all of its donors, but plans to replace it with some form of NFT sale.
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This post UkraineDAO Raises $6.75M in ETH Donations for Flag NFT
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