OnlyFans Donated 500 ETH to DAO Supporting Ukraine

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The favored video subscription platform OnlyFans says it donated 500 ETH (roughly $1.3 million) to UkraineDAO, a decentralized autonomous group elevating funds to assist Ukraine throughout its conflict towards Russia.

A consultant of OnlyFans advised CoinDesk the donation is part of the corporate’s bigger charitable effort to assist Ukraine, led by OnlyFans’ Ukrainian-American proprietor Leonid Radvinsky.

The corporate says it has now despatched over $5 million to varied humanitarian efforts supporting the nation, with a further $1 million donation deliberate to be despatched on March 15.

“These tragic occasions have had a horrible affect on people together with members of our creator neighborhood,” Ami Gan, CEO of OnlyFans, mentioned in a press release. “Given our sturdy private ties to Ukraine, we wished to assist in a means which felt true to who we’re at OnlyFans and which centered on getting support and assist to the Ukrainian individuals.”

UkraineDAO has been a number one crypto contributor to Ukraine’s authorities in latest weeks, which has now obtained over $50 million in crypto donations since tweeting out its ether (ETH) and bitcoin (BTC) addresses in February.

The DAO was shaped by Russian artwork 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.

On the level that OnlyFans made the five hundred ETH donation, the DAO was stalled at about half of the 1,000 ETH reserve quantity, a consultant mentioned. The OnlyFans donation pushed the quantity excessive, and from that time on, extra donations started to pile in.

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