an NFT of the Ukrainian flag sold for $ 6.7 million in support of the country

NFTs are not always volatile and speculative creations, as many might think, and can sometimes become a cultural and mobilizing weapon. In support of the country at war for more than a week now, an NFT of the Ukrainian flag created by Pussy Riot has been sold for $ 6.7 million (6.12 million euros).

Digital art and digital creations can sometimes involve a case that goes beyond artistic interests … While the war in Ukraine has been raging for more than a week now, the art world is responding to the Russian invasion of Ukraine by canceling shows and breaking ties. But the support of the Ukrainian people is also exported to the digital galaxy. The Russian activist group Pussy Riot, anti-authoritarian and feminist, undertook the creation of an NFT of the Ukrainian flag in cooperation with the association UkraineDAO, set up to support the Ukrainian war effort. The sale of NFT generated $ 6.7 million (6.12 million euros) for the Come Back Alive association, which will distribute food, medical supplies and other necessary services to civilians and the Ukrainian army.

Waving the flag version 2.0

As the American newspaper pointed out, washington post “Russia’s invasion of Ukraine has taken place” the world’s first crypto war “. Since February 26, Ukraine has announced the possibility of supporting the country through donations of cryptocurrency. Ukrainian foundations and associations have received astronomical sums. the total amount.NFT that got people talking about it: the flag of Ukraine, created on the initiative of the punk group Pussy Riot.

Members of the group are known for their anti-authoritarian and feminist views, publicly recognized through their unauthorized artistic appearances © ️Wikimedia Commons / Igor Mukhin

The group truly masters the codes of these new digital practices: a foundation in their name brings together artistic activists from around the world playing on the new digital scene. Their approach is clarified in a tweet from last week: ” Our goal is to use what we know how to do, Web3 (new version of the network based on blockchain and cryptocurrency)to help Ukrainians cope with the Russian invasion of their country “. They collaborated with the UkraineDAO Association, which for more than a week has been organizing a support campaign to collect donations to the country in war.

shared memory

On March 2, the Ukrainian flag NFT was sold to donors for 2,250 ETH, equivalent to $ 6.75 million (approximately 6.12 million euros), within 72 hours. The work, which reveals the minimalist aesthetic in the country’s two colors, stands as a symbol.

Sales raised $ 6.7 million © ️Wikimedia Commons

Sales raised $ 6.7 million © ️Wikimedia Commons

Pussy Riot Nadya Tolokonnikova, historical opponent of Vladimir Putin, expresses on Twitter: ” People may have different aesthetics, but it’s not about what color we prefer, it’s about coming together to save lives “. Total: 3200 individual contributions participated in the purchase of NFT. Buyers therefore share ownership of the plant by receiving a” share “of NFT proportional to their investment. Although the plant may be subject to lucrative interests, UkraineDAO encouraged buyers to retain their share , as a “digital souvenir” in support of Ukraine.

In these massive online donation movements, the country’s Deputy Prime Minister Mykhailo Fedorov has called on cryptocurrency groups to block Russian users from exchanges. This campaign thus underscores the scale of a conflict that mobilizes support from the entire international community and from the parallel markets that populate the network.

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