NFT News Roundup – 05/03/2022

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This week has seen another round of NFT-based thrills and spills, so here’s our regular NFT roundup to let you know what you need to know.

NFTs Pump $7 Million into Ukraine’s Fundraising Projects

Even amid the chaos of war in Ukraine, NFTs have become a silver lining for the Ukrainian government. The country has raised about $7 million for its armed forces and humanitarian activities thanks to NFT fundraising activities.

On Wednesday, 2,258 ETH worth $6.7 million was donated by 3,271 contributors through the recently concluded Ukraine DOA NFT flag auction. Ukraine also received a CryptoPunk NFT estimated to be worth $200,000 in its Ethereum wallet on Tuesday.

Hackers Steal, Sell, then Return Smol Brains From TreasureDAO

The biggest marketplace for NFTs on the Arbitrum blockchain, TreasureDAO, suffered a significant hit by hackers this week, which led to the looting of hundreds of Smol Brains and other NFT collections. These NFTs were initially sold before the platform was frozen, but in an interesting twist the hackers returned around half of the unsold NFTs.

TreasureDAO co-founder John Patten offered to personally cover any losses incurred by users of the platform, which has temporarily ceased operations while it deals with the fallout.

KPMG Canada Buys Its First NFT

Three weeks after buying its first cryptocurrency, the Canadian branch of accounting powerhouse KPMG became the latest global company to hop on the NFT bandwagon. The accounting firm splashed 25 ETH ($70 000) on the purchase of one World of Women (WoW) NFT and an Ethereum Name Service domain name (KPMG.eth) in what it described as its “first foray into this rapidly growing asset class.”

KPMG Canada’s purchase is the latest example of companies buying into NFTs, with Visa starting the trend six months ago.

Dolly Parton Plans To Release Limited-Edition NFTs

Country music legend Dolly Parton announced this week that she will be releasing a collection of NFTs on her own marketplace, Dollyverse. The singing legend’s NFTs will include a limited-edition of her Run, Rose, Run album, a collection of songs from a book she co-authored with bestselling author James Patterson, and a limited series of Dolly-inspired NFT artwork.

Parton’s venture is a part(o)nership with FOX Entertainment’s Blockchain Creative Labs and blockchain company Eluvio, likely the first of many such collaborations.