The winning Eurovision group sells a trophy for ETH 500 to help Ukraine

The winning Eurovision group sells a trophy for ETH 500 to help Ukraine

Eurovision-winning group Kalush Orchestra raised $ 900,000 by auctioning off the music contest trophy and sent the money to a foundation backing Ukraine in the middle of the war with Russia.

The winning bid was from the WhiteBit cryptocurrency exchange and was in the form of 500 ether (ETH). In addition to the physical microphone, the winning band also received a non-fungible (or NFT) testimonial of the trophy.

“You’re too much. Thank you to everyone who gave this auction and special thanks to the WhiteBit team who bought the trophy for $ 900,000 and are now the new owners of our trophy.”

The newly opened NFT Museum “Meta History: Museum of War” in Ukraine, which held the auction on its platform, described the auction as “a victory” for both Ukraine and the crypto world.

Participants in the auction had the option to bid in both cryptocurrency and fiat currency: the Ukrainian virtual bank Monobank made bids in fiat currency.

An additional $ 370,000 was raised in fiduciary currency by auctioning off the pink cap that Oleh Psiuk, lead singer of the Kalush Orchestra, wore during the performance of his song “Stefania” in Turin, Italy.

According to the band, the money raised from the auction will be redirected to the purchase of three drones and a control center for the needs of the Ukrainian forces for the charity of Serhiy Prytula, a popular Ukrainian television presenter.

Millions in cryptocurrencies

Ukraine resorted to cryptocurrency donations immediately after Russia invaded the country in late February, raising $ 63.8 million on March 11, according to forensic blockchain firm Elliptic.

There were more than 120,000 contributions, including a $ 5.8 million donation from Polkadot founder Gavin Wood, and a single $ 1.86 million transaction linked to the proceeds from the sale of the collection. ” Censored “by NFT, created by Julian Assange, founder of WikiLeaks. , and digital artist Pak.

Another major donation came in the form of CryptoPunk # 5,364, worth more than $ 200,000.

The $ 63.8 million mentioned by Elliptic may have been a conservative estimate, as Ukrainian Deputy Minister of Digital Transformation Alex Bornyakov had suggested that the total amount of cryptocurrencies donated was “about $ 100 million.”

Ukraine plans to carry out more aid initiatives with cryptocurrencies

The cryptocurrency donations Ukraine is receiving may have helped the country’s fight against Russia, but Ukrainian President Volodymyr Zelensky has said the country needs more financial help to cover a monthly budget deficit of about $ 5 billion.

Recently, Everstake, the Ukrainian equity provider, which also supports the fund “The Aid for Ukraine,” released a rap video called “Invest in Peace, Bro.”, Urging the crypto community to continue to support it.

Last week, Mykhailo Fedorov, Prime Minister of Ukraine, presented the video during the World Economic Forum in Davos, Switzerland.

“Peace has a price, but the first wave of donations has slowed. Cryptocurrencies are free of bureaucracy, making them the most efficient way to provide help quickly. ” Tech.eu.

According to Vasylcjuk, “every cryptographic contribution, small or large, is another point against totalitarianism.”

Meanwhile, Obolon, Ukraine’s largest independent beer brand, announced the sale of an NFT collection called “Brewing NFTs for Water” to help distribute free water to war-affected communities.

Each NFT will provide hundreds of gallons of clean water to people who need it. Part of the proceeds will also be donated to the Come Back Alive Foundation, another Ukrainian organization involved in fundraising.

Obolon plans to sell 5,000 NFTs for 0.1 ETH (about $ 194), which can be exchanged for a bottle of commemorative beer when the war is over.

* Translated by Daniela Pereira do Nascimento with permission from decrypt.co.

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