Ikonia, a digital platform raises charity funds with NFTs for Ukraine

Ikonia, a digital platform based in Kyiv and Gothenburg, has announced that it will sell 43,287,512 NFTs, one for each Ukrainian citizen.

The ‘Stand With Ukraine‘ launch of the NFT sale raises funds for charities in the embattled country.

More than 43 million NFT editions will be sold for $10 each; so far, more than $264,000 has been raised, but the goal is to raise $432,875,120. They claim that all proceeds will be donated to three Ukrainian charities chosen by Ikonia. The buyer gets to choose which of these organizations receives their donation. Every time the NFT is sold, a ten percent royalty fee is donated to charity in perpetuity.

The NFTs are issued on the Polygon network, which is an environmentally friendly Ethereum-based scaling blockchain. Each ‘Stand with Ukraine’ NFT edition was created in collaboration with Colombia/New York-based artist Felipe Posada, who designed the work for free. They can be purchased with a credit/debit card, making the collection accessible to the general public as well as those who are already familiar with NFTs. According to Ikonia, all proceeds will be donated to charities, minus unavoidable fees and taxes.

Patrik Arnesson, CEO of Ikonia, stated that the scale of the Russian invasion surprised everyone:

“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 long been heralded as the “future of finance,” and the Russian-Ukraine conflict has brought this to the forefront once more. Within a week, people all over the world donated digital assets totaling $30 million in response to the crisis in Eastern Europe.