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OnlyFans Donated 500 ETH to DAO Supporting Ukraine

WikiBit 2022-03-11 11:18

Abstract:The donation by the online subscription platform is among the many crypto-based efforts to support Ukraine during its war against Russia.

  The popular video subscription platform OnlyFans says it donated 500 ETH (roughly $1.3 million) to UkraineDAO, a decentralized autonomous organization raising funds to support Ukraine during its war against Russia.

  A representative of OnlyFans told CoinDesk the donation is a part of the company‘s larger charitable effort to support Ukraine, led by OnlyFans’ Ukrainian-American owner Leonid Radvinsky.

  The company says it has now sent over $5 million to various humanitarian efforts supporting the country, with an additional $1 million donation planned to be sent March 15.

  “These tragic events have had a terrible impact on individuals including members of our creator community,” Ami Gan, CEO of OnlyFans, said in a statement. “Given our strong personal ties to Ukraine, we wanted to support in a way which felt true to who we are at OnlyFans and which focused on getting aid and support to the Ukrainian people.”

  UkraineDAO has been a leading crypto contributor to Ukraines government in recent weeks, which has now received over $50 million in crypto donations since tweeting out its ether (ETH) and bitcoin (BTC) addresses in February.

  The DAO was formed by Russian art collective Pussy Riot and non-fungible token (NFT) studio Trippy Labs, with its largest single donation coming from a $6.5 million crowdfunded NFT sale on March 2, to which OnlyFans 500 ETH donation contributed.

  At the point that OnlyFans made the 500 ETH donation, the DAO was stalled at about half of the 1,000 ETH reserve amount, a representative said. The OnlyFans donation pushed the amount over the top, and from that point on, more donations began to pile in.

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