NFTs: Former Boxer, Artist Offer Non-Fungible Tokens to Support Ukraine

Former Ukrainian boxer Wladimir Klitschko and artist WhIsBe have teamed up to launch NFTs in support of Ukraine “amidst an unprecedented crisis in the country, NFT creative agency Metacurio announced.”

All proceeds will reportedly “go to Red Cross Ukraine and UNICEF, ensuring that funds from the NFT sale go directly to the resources most direly needed by Ukraine in its current defense against the Russian forces.”

The NFT series, which drops Wednesday (March 8, 2022), “features four NFT editions of the artist’s ‘Vandal Gummy’ bears in the colors of the Ukrainian flag.” The collection will be “titled ‘Vandalz for Ukraine: WhIsBe x Wladimir Klitschko.’

NFT marketplace OpenSea will be “hosting the drop.” Three editions of “Vandal Gummy” bear NFTs will be “available at different price points of $100, $1,000, and $10,000.” There will be “a 1-of-1 NFT “selling for $1MM.”

All funds from the drop will “go directly toward supporting the people of Ukraine during this crisis, with participating partners waiving their fees.” The drop sale will “last for three weeks starting tomorrow,” the announcement revealed.

Metacurio Founders Sophie Watts and Jeff Hood stated:

“This is not just a chance to own an astonishing piece of art history but, more importantly, an easy way to directly support the people of Ukraine who are in crisis right now. We are humbled to support this cause in every way possible.”

Wladimir Klitschko added:

“It is a magnificent initiative: a support through art, a superb “suppart” at the service of people who suffer. Art can be beautiful on many levels when used to serve humanity.”

WhIsBe remarked:

“I’m grateful for the opportunity to be of service for the greater good,” noted. “It’s incredible to be able to use my art and this emerging technology to help others in need and provide immediate relief to any location in the world.”

Wladimir Klitschko, founder, lecturer and ex- heavyweight boxing world champion, and his brother Vitali Klitschko, Mayor of Kyiv and former world boxing champion, have been “the faces of Ukrainian resistance to Russia’s invasion along with Ukrainian President Volodymyr Zelensky.”

WhIsBe reportedly “entered into the crypto space” in 2017 and claims to have become one of the first fine artists to enter into the NFT space. He further claims to have “since made his mark in the community by selling the first non-auction 7 figure NFT and becoming one of the top 10 NFT artists in the world.”

It’s worth noting that the NFT is sector is highly speculative and many scams have been orchestrated. NFTs are most likely unregistered securities so their sale (in most cases) does not comply with applicable regulatory guidelines, and in the majority of cases, there is no investor protection and/or recourse in case of fraud (which is expected to rise sharply).

Moreover, NFTs don’t really have a clear value proposition in many cases, and are increasingly being purchased by speculative investors who have not done their research.

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