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NFT News: Web3 Community Raises Over $1 Million in 30 Seconds for Ukraine

Jeff Pratt breaks down how humanitarian initiative RELI3F brought the NFT community together in support of Ukraine.

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Web3 Community Raises Over $1 Million in 30 Seconds for Ukraine

Following Russia’s invasion of Ukraine, the nation was left in economic disarray due to an immense level of sanctions.

As people scrambled for ways to provide financial relief to those defending their land, a Web3 community came together to found RELI3F, an initiative dedicated to supplying global humanitarian aid.

The concept of RELI3F was born following NFT influencer Andrew Wang’s tweet urging his followers to come together in support of Ukraine.

After Wang’s public plea, his fellow influencers answered the call, such as smilesss Co-founder Giovanni, entrepreneur Satvik Sethi, and developer SignorCrypto.

After the group began working together, the rest of the project came together quickly. The official NFT collection features work from 37 prominent artists. See a list of the full team below:

The project immediately blew up following its launch, selling out in 30 seconds and generating over $1 million in Ethereum. 100% of primary sales will be donated in support of Ukraine’s humanitarian crisis.

RELI3F recently sent 185 ETH (approximately $519,000) to a variety of non-profits. See the full breakdown of how those funds were allocated below:

At the time of this article, the project has surpassed 644 total ETH in traded volume. 10% of secondary sales have been dedicated to the artists, multiple of whom are from Ukraine. All of these creators will have the ability to opt in or out of these royalties.

This community coming together in a matter of days in support of Ukraine shows just how impactful Web3 can be. RELI3F has left its mark on the metaverse and the real world.

To learn more about this project and its plan for the future, follow RELI3F’s Twitter account and check out the official collection on OpenSea.

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