THE CRYPTO COMMUNITY RALLIES FOR UKRAINE

WHAT HAPPENED: Russia’s illegal invasion of Ukraine has sparked a mobilization among crypto creators and buyers, who have united around NFT-related projects fundraising for support organizations and the country’s war efforts. Initiatives such as Art For Ukraine and ​​RELI3F are selling NFTs to benefit Ukrainian charities, while individual artists from Shepard Fairey to Lorenzo Quinn have likewise minted and sold their works in support.

UkraineDAO, spearheaded by the co-founder of Pussy Riot Nadya Tolokonnikova, Trippy Labs, PleasrDAO, CXIP, and other humanitarian activists, also swiftly allied to sell a 1/1 NFT of the Ukrainian flag to aid the Come Back Alive charity. The sale raised more than $6 million and the organization continues to welcome crypto donations to support Ukranians devastated by the war.

WHY IT MATTERS: If a case need be made for the upside of crypto and decentralized autonomous organizations, this is it. Since February 24, the Ukrainian government and supporting NGOs have received $60.5 million through more than 120,000 crypto donations. Like AssangeDAO before it, Ukraine DAO and other support efforts (including the donation of a rare CryptoPunk) have savvily tapped crypto’s speed and the zeal of the NFT community for a critical cause. As Ukrainian activist Alona Shevchenko told Decrypt, “This is exactly what DAOs are for, making change offline in the real world [by] harnessing the power of blockchain."

ARTWORK: Metacosmos by ANNAKIKI

THE LAUNCH: At Milan Fashion Week, independent label ANNAKIKI debuted its NFT collection, making it the first Chinese fashion brand to launch digital assets. Titled Metacosmos, the NFTs are minted from the label’s latest gravity-defying, cyborgian designs. These digital counterparts have been described by Creative Director Anna Yang Yangzi as representing “a unique identity label for the emerging humanity of another parallel dimension.”

THE RECEPTION: Resoundingly positive across Chinese social media. According to Jing Daily, select designs from the NFT collection have been “worn” by celebrities and key opinion leaders from Shen Mengchen and Wan Nida to Chen Ran and Meng Jia. The label has virtually dressed a total of 23 celebrities and KOLs with its new designs.

WHY IT MATTERS: The rise of virtual fashion continues apace — spurred on by the industry’s emerging climate consciousness (though NFTs are hardly the most eco-friendly alternative) and growing consumer appetite. Notably, the booming market for NFT PFPs has urged along the development of these collectibles, as brands from Champion to Gucci have produced virtual assets designed to be worn within the metaverse.

MURAKAMI’S NFTS TO LAND AT GAGOSIAN
In May, Gagosian’s New York galleries will host an exhibition of new and never-before-seen works by Takashi Murakami. Significantly, the showcase will include the Japanese artist’s NFT projects: his paintings and sculptures of the aborted Murakami.Flowers series and pieces based on his CloneX collection with RTFKT.

SONY AND UNIVERSAL X SNOWCRASH
Major labels Sony Music and Universal Music Group have established partnerships with NFT platform Snowcrash to “develop a range of opportunities for our recording artists with a focus on delivering accessible, user-friendly experiences,” according to Sony’s Dennis Kooker. Bob Dylan and Miles Davis NFT collections are set for release on the marketplace (which — surprise — was co-founded by Dylan’s son Jesse) later this year.