Connect with us

Projects

Despite the Violence, NFT Projects are Already Attempting to Restore Ukraine

Ukraine is using NFTs to raise donations, demonstrating how decentralized and trustless blockchain technology can be.

Published

on

#nft #nfthours #ukraine #charity #help #standwithukraine

The latest invasion of Ukraine has thrown the world into disarray, chaos, and geopolitical danger. Millions of investors have lost money due to global financial market volatility. In addition, the global economy is in shambles due to rising global inflation, fears of liquidity tightening, and interest rate hikes by the US Federal Reserve.

Furthermore, the delinking of SWIFT messaging services for major Russian banks are raising the alarm among the country’s businesspeople and affecting other economies with strong Russian trade links. With Visa and Mastercard suspending operations in Russia, the interoperability of their payment systems and the daily folks who rely on them may suffer unimaginable consequences.

In the midst of this uncertainty, cryptocurrencies and other assets such as NFTs are playing an increasingly important role in attempting to offset the effects of the Ukraine crisis.

Ukraine DAO

Ukraine DAO has auctioned 10,000 NFTs of the Ukrainian flag on the Ethereum network, along with a unique NFT of the flag, thanks to a partnership between Nadezhda Tolokonnikova, digital artist Trippy Labs, and artist collective PleasrDAO. It has raised approximately $6.7 million for Ukraine’s military so far.

Through a service called Party Bid, an NFT of the Ukrainian flag sold for 2,258 Ether (ETH) ($6.5 million at press time). The Come Back Alive charity, which assists the Ukrainian military, volunteers, and their families, received 100% of the earnings from the NFT sale.

Save the Children

7.5 million children in Ukraine are caught in the middle of the conflict, at risk of being displaced, traumatized, having their schooling interrupted for an extended period of time, and losing their family’s income. Save the Children has raised funding to assist families that have been disproportionately affected by Ukraine’s conflict. Crypto contributions are included in the initial $19 million worth of pleas on its donation page. Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Cardano (ADA), and Dogecoin are among the more than 60 cryptocurrencies accepted by the organization (DOGE).

Holy Water

Over 500 Ukrainian artists met to submit artwork for a new NFT collection sold through Holy Water to generate funds for Ukraine’s people. The artists are represented by some of the country’s most prestigious galleries, including Port Agency, Izolyatsia, and Ugallery. The starting bid for each NFT will be 0.08 ETH. They want to raise a minimum of $1 million.

Waone Interesni Kazki

Vladimir Manzhos, aka Wayne Interesni Kazki, a well-known modern Ukrainian artist, sells NFTs of his most renowned paintings, which surrealists and Ukrainian folk stories influence. Half of the funds raised will go to Ukrainian war organizations for defense and medical supplies.

The goal is to raise $7,000 by selling non-framed prints of paintings like “The Seed of a Good Idea,” “Beta to Alpha Transition,” and “Prisoned Mind.” These are one-of-a-kind NFTs that retail for $290 each.

AITX’s NFT sale

The first is a minted NFT carrying the image of a Roameo created by Robotic Assistance Devices. The second is a minted NFT holding the image of a Roameo produced by Robotic Assistance Devices. An online auction is now being held to gather funds. The second option is to donate to a Ukrainian humanitarian agency that has been certified by the International Red Cross, according to a GoFundMe page set up by CEO Steve Reinharz.

Wladimir Klitschko’s NFT

Wladimir Klitschko, an Olympic champion and boxing legend, collaborated with artist WhlsBe on an NFT collection. Mint will offer the collectibles in three price ranges: $100, $1,000, and $10,000. The proceeds of the sale will be sent to Ukraine.

Ukraine’s NFTs for defense

Ukraine’s vice prime minister, Mykhailo Fedorov, indicated that the government would issue NFTs to help pay military operations. The appeal raised $54.7 million for the Ukrainian government and non-governmental organizations in Ukraine, with a lesser portion going to the Come Back Alive organization.

Reli3F

Web3 humanitarian project Reli3F, led by crypto artists and famous NFT influencers, launched a huge NFT sale that includes pieces from 37 artists, including Danny Cole, Vinnie Hager, Sartoshi, Gremplin, Ravi Vora, and others. The entire sale’s revenues were donated to Ukraine’s rescue efforts. The NFT project sold out within 30 seconds of its initial introduction, raising over 1 million dollars.

TIMEpieces

TIMEpieces, a Time magazine Web3 NFT community effort, has announced an exhibition titled “Make Art Not War.” The proceeds from the exhibition will be donated entirely to humanitarian aid operations in Ukraine. According to Time, collectors have created over 10,000 NFTs from 99 picture collages, each reflecting a year in Time’s 100-year history.

Forza Ikonia

Forza Ikonia has aided with the fundraising efforts of several Ukrainian NGOs, including Doctors Without Borders and Amnesty International. In addition, the Kyiv and Gothenburg-based incubator launched the “Stand with Ukraine” NFT project, including around 43,287,512 editions by artist Felipe Posada. Each edition represents one Ukrainian person and is available for purchase for only $10.

All revenues go to the platform’s chosen charity, and editions can be purchased with a credit or debit card. Forza Ikonia has raised almost $264,000 so far.

ArtWaRks Ukraine

The ArtWaRks Ukraine NFT initiative was founded by Ukrainian IT entrepreneurs, art historians, artists, and media creators to raise funds for charitable assistance to Ukrainian civilians and military personnel. On OpenSea, the project has 57 “ArtWaRks” for sale, each costing roughly 0.07 ETH or $182.

Former Minister of Culture and Sports Vladimir Borodyansky created one of the artworks in this NFT initiative. Ruslan Nonka, an IT entrepreneur; Yulia Gnat and Olga Balashova, co-founders of the NGO Museum of Contemporary Art; and many other Ukrainian artists are among the contributors.

Last but not least

Many cryptocurrency investors regard the Russia–Ukraine crisis as a game-changer that might solidify the utility of cryptocurrencies and blockchain technology in people’s eyes. At the same time, it’s still too early to say whether this will influence how governments view crypto-assets and NFTs. However, we know that digital assets like NFTs are assisting a struggling country in raising funding to defend its borders.

NFTs could do substantially more than before, with blockchain seeping into the world consciousness as a powerful and important financial technology.

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

Published

on

A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

Continue Reading

NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

Published

on

The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

Continue Reading

Projects

The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

Published

on

The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

Continue Reading

Trending

bitcoin
Bitcoin (BTC) $ 23,870.40 3.58%
ethereum
Ethereum (ETH) $ 1,680.20 6.31%
tether
Tether (USDT) $ 1.00 0.02%
chiliz
Chiliz (CHZ) $ 0.145463 10.65%
enjincoin
Enjin Coin (ENJ) $ 0.481059 8.86%
decentraland
Decentraland (MANA) $ 0.805745 11.67%
flow
Flow (FLOW) $ 1.17 12.76%
the-sandbox
The Sandbox (SAND) $ 0.771759 10.04%
wax
WAX (WAXP) $ 0.079248 12.69%
ecomi
ECOMI (OMI) $ 0.000961 3.09%