An NFT collection of 14,850 unique digital artworks of Ukrainian cities and landmarks is to go on sale at 10:00am ET on 10 August to raise funds for Save the Children and Women for Women International’s work helping children and families impacted by the war.
The #WeAreUkraine collection of NFTs (Non-Fungible Tokens) is the initiative of the newly formed non-profit DIG Foundation, set up by Dubai blockchain investment company the Decentralised Investment Group (DIG).
The NFTs – collectible pieces of immutable digital artwork – will be available for purchase via online NFT marketplace OpenSea and will feature artist renditions of the most famous monuments and landmarks from a number of Ukrainian cities, with written explanations for each piece. Since the conflict escalated on 24 February 24, several Ukrainian landmarks have been damaged, including the Kyiv TV Tower, Karazin Kharkiv National University and Antonov International Airport.
Thirty-five percent of the proceeds from the sale of the #WeAreUkraine NFT collection will help Save the Children continue working alongside local partners to distribute food, hygiene items and blankets to prepare families for what is likely to be a difficult winter. Proceeds will also boost child protection and support services in Ukraine, Poland and Romania as well as other European countries. Another thirty-five percent will be allocated to Women for Women International, and the remaining thirty percent will go towards operating costs.
Ettore Rossetti, head of Web3 at Save the Children, said the organisation has been supporting children and families in Ukraine since 2014 – almost as long as the organization has accepted cryptocurrency donations. Save the Children was the world’s first International NGO to accept a bitcoin donation in 2013, in response to Typhoon Haiyan that devastated the Philippines.
“Crypto donations have enabled truly borderless giving and is not only decentralising finance but also decentralising philanthropy. Crypto has become an alternative funding stream for global emergencies like Ukraine and we are also accepting crypto proceeds from NFT projects,” he said.
Sara Bowcutt, Managing Director at Women for Women International – UK, welcomed the initiative to help support vulnerable communities affected by the war in Ukraine.
“Women often bear the brunt of war and conflict, and their donation will help us address their urgent needs. Through our Conflict Response Fund, we are providing critical psychological support, legal counsel and training so that women can better support themselves and their families – whether they are displaced in Ukraine or taking refuge in Poland. By supporting our response, the DIG Foundation is helping women survivors who have faced unimaginable loss and trauma to rebuild their lives and find a way to move forward beyond this war.”
Haydn Snape, DIG’s Managing Global Partner and CEO, said DIG Foundation aimed to get involved in charitable products that can make a lasting impact. DIG has become the first UAE-based company to create a bridge between blockchain technology and the world of film-making and entertainment.
“Blockchain technology will become omnipresent, until it pervades all aspects of everyday life, so why not use it to make a difference, and to help those in need,” said Snape. “DIG invests in products and projects that instil the values of decentralisation, financial independence and individual liberty, and our Foundation will use these ideals to empower women and children by educating them in STEM programmes, so they may one day become the next generation of innovative Web3 leaders with the tools needed to thrive in a digital economy.”
More than 6.6 million people are estimated to be internally displaced within Ukraine, according to UN data, with a further 6 million fleeing the country over the past five months, the majority of whom are women and children.
Crypto fundraising can be a quick way to raise funds for social causes because it is easier to navigate than traditional financial systems and is free of central financial authorities such as governments and central banks.
But their relative anonymity can also offers a haven for illegal activity and blockchain technology has come under criticism for the vast amount of energy it requires to run.
NFTs are part of the explosion of blockchain technology and are essentially unique digital assets that can be purchased and sold using different cryptocurrencies.
None of the information contained herein constitutes investment, financial or trading advice to buy or sell any currency, product, or financial instrument.