DAOs are revolutionary. ⛳️
The Ukrainian flag sold for 2,258 ETH (roughly $6.75 million) on Wednesday, with the proceeds being sent to Come Back Alive, an organization that donates supplies to Ukrainian civilians and military members. 🇺🇦
The sale was organized by UkraineDAO, a crowdfunding effort led by Russian art collective Pussy Riot and non-fungible token studio Trippy Labs to support Ukraine’s fight against Russia.
The winning bid for the 1-of-1 flag NFT was placed on behalf of a pool of 3,271 donors through a service called PartyBid, where the decentralized autonomous organization (DAO) was able to essentially purchase the NFT from itself through donations from its members.
