Eurovision Winners Raised $1M In Ethereum For Ukraine: Report

Time Stamp: June 1, 2022 10:17 AM
Source Node: 1338194

The Eurovision winners Kalush Orchestra raised $1 million in Ethereum for their home country, Ukraine, by auctioning their trophy for 500 ETH to raise funds for the army as we can see more today in our latest Ethereum news.

The Eurovision winners Kalush Orchestra raised $900,000 by auctioning off the competition’s glass microphone trophy and the money will be sent to a foundation that will support Ukraine in its conflict with Russia. The winning bid for the trophy was attributed to the WhiteBit exchange and came in the form of 500 ETH so, in addition to the physical crystal microphone, the winner gets an NFT featuring the trophy. The band wrote:

“You guys are amazing. We appreciate each and every one of you who donated to this auction and a special thanks to the team WhiteBit who purchased the trophy for $900,000 and are now the rightful owners of our trophy.”

The NFT Museum Meta History: Museum of War in Ukraine, hosted the auction on its platform and described the auction as a victory for both Ukraine and the entire crypto space. The auction participants had the option to place bids in crypto and fiat with the fiat bids directed via the virtual bank Monobank. Another $370,000 in fiat was raised by raffling off the bucket hat that the band frontman Oleh Psiuk wore during the performance of the song. According to the band, the company raised through the auction will go towards buying three drones for the needs of the Ukrainian forces via a charitable fund of the popular TV presenter Serhiy Prytula.

Ukraine turned to crypto donations right after Russia invaded the country at the end of February and raised $63,8 million. A total of 120,000 contributions as well as a $5.8 million donation by the Polkadot founder Gavin wood and another transaction worth $1.86 million were linked to the proceeds of the sale of the NFT collection Censored by Wikileaks founder Julian Assange. Another notable donation came in the form of a CryptoPunk NFT worth over $200,000.

The $63.8 million referred to by Elliptic could have been a conservative estimate but Bornyakov suggested the total amount of crypto donated was nearly $100 million. The crypto donations in Urkaine helped in the country’s fight against Russia but hte Ukrainian president Zelensky said the country is looking for more aid to cover the monthly budget deficit of $5 billion. Also recently, Ukraine’s biggest beer band Obolon announced the sale of the NFT collection “Brewing NFTs for Water” to help distribute water among the war-affected communities.

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