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- Well-liked NFT collection Bored Ape Yacht Club announced that they are going to donate $1 MIllion worth of Ethereum to Ukraine.
- Twitter handle of NFT collection unveiled the details regarding transactions, displaying that they donated 388.999 ETH to the war-stricken nation.
- Bored Ape Yacht Club is an NFT collection of algorithmically generated Apes, with each Ape having its distinct quality, either in accessories, clothing etc.
BAYC Sails $1 Million Ethereum Boat To Ukraine Waters
Bored Ape Yacht Club NFT collection declared that the collection has sent a donation of $1 Million Ethereum to Ukraine to assist the nation’s stand against Russia.
BAYC’s Twitter handle unleashed the information regarding this transaction alongside blockchain explorer Etherscan’s transfer link displaying that it transferred 388.99 Ethereum, (over $1 Million) after being motivated by contributions of its members of its community.
NFTs are distinct tokens that persisted on blockchain like Ethereum, and represents asset ownership of a particular individual or whoever holds it. Bored Ape Yacht Club was among the initial NFT collections to touch the minimum acquisition value or floor price of more than 50 ETH.
Since then, BAYC has become a prominent name in NFT sector, with famous names such as Jimmy Fallon, Steve Aoki, Eminem and many more “aping” into Bored Ape collection.
As of now, BAYC is the 2nd biggest NFT collection of all time according to OpenSea’s NFT standings, having enlisted more than 417,000 Ethereum ($1 Billion) in secondary sales.
BAYC charity towards Ukraine comes after some of the other Web3.0 communities — from meme coin holders to DAOs to NFT collections — declared initiatives and projects revolving around giving hands to relieving Ukraine.
To this date, Ukraine has received a plethora of assistance, especially from crypto assets, as their stack has gone up over $88 Million. As per a research conducted by a transaction tracking website, Ukrainian authorities possesses around $7 Million in ETH wallet as of now.
Utilizing Cryptocurrencies Against Russia
Ukraine is not just stacking these crypto assets, but is using them to stand in the war against this anarchist approach. As per some reports, the nation has spent more than $15 Million on army supplies, involving bulletproof vests.
Although many organizations and cryptocurrency startup founders have made contributions in form of digital assets, majority of donations were from general public.
Ukraine has also received donations in other crypto-assets like Polkadot (DOT), Solana (SOL), and Tether (USDT). Apart from cryptocurrencies, the nation also received donations in Non Fungible Tokens, involving one from another prominent name CryptoPunks.
The war in Ukraine is still active to the date, and Russia is making its anarchist moves to make their neighbors kneel. It is uncertain what will be the conclusion of war, it is certain that innocent and normal lives have been disrupted in the country, and people are waiting for this chaos to end soon, and return to their normal lives.
As of this writing, Ethereum was trading at a market value of $2,719.57, up by 8.04% in previous 24 hours.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
