Vogue Lists Fashion for Peace NFTs on OpenSea to Support Ukraine

Key Insights:

• Vogue Singapore and Vogue Ukraine launched the NFT collection on OpenSea to raise funds for Ukraine.
• Digital assets have proven vital in Ukraine’s time of need.
• Total crypto donation estimates range from $48M to $100M.

The fashion industry has embraced NFTs as market interest and trading volumes draw mainstream players into the digital asset space.

Following the Russian invasion of Ukraine, digital assets have found a new purpose, with donations and fundraising campaigns going virtual.

The marked increase in NFT activity, in particular, comes despite greater regulatory scrutiny. Significantly, the isolation of Russia in response to the invasion of Ukraine has seen global brands withdraw from Russia.

The brand exodus from Russia has coincided with brands raising funds for Ukraine and its fight for freedom.

Vogue Fashion for Peace NFTs Hit the OpenSea Marketplace

Today, Vogue Singapore and Vogue Ukraine launched a Fashion for Peace NFT series on the Ethereum-based OpenSea marketplace.

According to the announcement on Twitter,

“Vogue Singapore and Vogue Ukraine present an NFT collection by six designers and artists from Ukraine, with all proceeds going to Save The Children of Ukraine.”

Vogue Singapore and @VogueUkraine present an NFT collection by six designers and artists from Ukraine, with all proceeds going to Save The Children Ukraine.
The sale goes live @opensea on 8pm SGT/8am EST tonight.https://t.co/BjDlycvTX8

— Vogue Singapore (@voguesingapore) March 15, 2022

The sale went live today at 8 pm SGT and 8 am EST.

Each NFT will reportedly be available in 50 editions at 0.5 ETH each. Vogue’s support via the NFT marketplace and cryptos come with the view that,

“Cryptocurrency has never been more of a useful medium than now.”

Vogue Singapore also hinted at the possible use of the Metaverse.

Digital Assets Pivotal in Delivering Financial Aid to Ukraine

Russia’s invasion of Ukraine has devastated the country and all but ended access to basic services. Crypto wallets and smart contracts have enabled the world to give Ukrainian people critical financial support.

Vogue Singapore and Vogue Ukraine are not alone in providing financial aid with digital assets.

There have been reports of crypto exchanges, including Binance, actively raising cryptos for the affected people of Ukraine. The Ukrainian government has also reportedly partnered with FTX, Kuna, and Everstake, to launch a crypto donation website.

Staking platform Everstake, Kuna Exchange, and FTX will channel all crypto donations made to Aid for Ukraine to the National Bank of Ukraine.

To date, estimates of crypto funds raised range from $48m to as high as $100m. Crypto donations have included BTC, DOT, ETH, SOL, and USDT.