As Russian bombs fall on Ukraine and reports of deaths<\/a> are coming in, the international community has been struggling to mobilize resources and send funds to various organizations in order to support Ukraine\u2019s army. For that reason, it might not surprise many to know that there\u2019s already an NFT collection aimed at fulfilling this need.<\/p>\n A self-described \u201cWeb3 initiative\u201d \u2013\u00a0RELI3F UKR \u2013 has been selling NFTs<\/a> with the promise that all proceeds from primary sales will go towards relief efforts in Ukraine, along with some secondary sales proceeds. According to OpenSea<\/a>, the floor price was about 0.053 ETH and at press time, the trading volume was about 456 ETH.<\/p>\n But here was the catch. As is the case with many popular NFT projects, the frenzy of interest triggered an astronomical rise in gas prices<\/a>. Early morning on 26 February, the median gas price shot past 1,300 gwei, before dropping back down to below 100 gwei.<\/p>\n Source: pro.nansen.ai<\/a><\/p>\n<\/div>\n For its part, RELI3F appeared to pat itself on the back, and tweeted<\/a>,<\/p>\n \u201cAnd we are sold out. 0.05 eth x 37 artists x 200 editions = 370 eth. Over a million dollars raised for the people of Ukraine in 30 seconds. This is the power of web3. From the bottom of our hearts, thank you.\u201d<\/p>\n<\/blockquote>\n While impressive, many donators were disappointed by the money they lost on gas fees, claiming the funds could have gone to the Ukrainian people instead.<\/p>\n Crypto donations have been a popular option for those who want to financially support Ukrainian relief groups or even the military. One estimate reported that more than $4 million<\/a> had been sent in Bitcoin donations to the army.<\/p>\n NFTs have diverse use cases, but \u2018humanitarian tools for fundraising\u2019 is certainly an unexpected one. Just this month, a group of self-identified \u201ccypherpunks\u201d<\/a>\u00a0came together to create AssangeDAO. The DAO raised over $45 million<\/a> in ETH to bid on an NFT and raise funds for Wikileaks founder Julian Assange\u2019s legal defense.<\/p>\n However, critics of NFT-based fundraising have lamented the loss of donations through extravagant gas fees.<\/p>\n Adding to that, the World Wildlife Fund\u2019s recent foray into the NFT industry with its \u201ctokens for nature\u201d collection minted on the Polygon blockchain also received global backlash<\/a>\u00a0due to environmental concerns.<\/p>\n Furthermore, the Associated Press decided to review<\/a> its venture to turn a video \u2013 featuring migrants on a crowded sea boat \u2013 into an NFT for its own NFT marketplace. This again came after journalists and scientists slammed the news agency<\/a> for reportedly profiting from people\u2019s pain.<\/p>\n<\/p><\/div>\nDo-NATIONs and more<\/h3>\n
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Are you a DAO-ting Thomas?<\/h3>\n