Ikonia, a Kyiv and Gothenburg-based digital platform, has announced that it will be selling 43,287,512 NFTs, one for each citizen of Ukraine. This launch of the NFT sale, called ‘Stand With Ukraine’, raises money for charities in the embattled country.
More than 43 million editions of the NFT will be sold for $10 each; at this point, over $264,000 has been raised, but the aim is to raise $432,875,120. They say that 100% of the proceeds will be donated to three Ukrainian charities vetted by Ikonia. The buyer gets to choose which of these their donation goes to. Every time the NFT is sold, a 10% royalty fee will continue to be donated to the charity forever.
The NFTs are minted on the Polygon network, the eco-friendly Ethereum-based scaling blockchain. Each edition of the ‘Stand with Ukraine’ NFT has been created in collaboration with Colombia/New York-based artist Felipe Posada who designed the work for free. They can be bought using a credit/debit card, ensuring the collection is readily available to the general public and those already well-versed in NFTs. According to Ikonia, 100% of the proceeds will go to charities, excluding unavoidable fees and taxes.
CEO of Ikonia, Patrik Arnesson remarked that the scale of the Russian invasion has taken everyone by surprise:
“And as we speak, the liberty, history, and soul of Ukraine is under threat. We cannot sit idly by; we must provide support. The money generated from these NFTs goes entirely to three amazing charities that will directly better the lives of those most in need. If every NFT is purchased, we will raise over $430 million for those in need. We are calling on the global NFT community and NFT projects – the likes of Bored Apes, Cryptopunks, Doodles, and others – to join hands and pledge to donate proceeds to this beautiful country in its darkest hour.
“Together, we can stand up to aggression. The Russian invasion has plunged Ukraine into danger, including some of our team that is based in the capital, Kyiv. As the threat level continues to rise, we have organized the emergency evacuation of employees working in the country, rehousing them in secure accommodation in the west of Ukraine. We are doing everything we can to ensure the safety and wellbeing of our team during this time.”
Cryptocurrency has for long been heralded as the ‘future of finance’ and the Russian – Ukraine war has once again brought that into the spotlight. People all over the world have made digital asset donations up to the tune of $30 million in response to the crisis in Eastern Europe within the space of a week.