Ukraine Is Releasing A War-Themed NFT Collection To Raise Money For Armed Forces
Last week, Ukraine's Vice Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov, had promised to release non-fungible tokens (NFTs) to help the country gather more resources to help its armed forces currently fighting Russia
In order to raise funds in cryptocurrencies, Ukraine is planning to launch an NFT collection depicting events from the invasion by Russia.
Last week, Ukraine's Vice Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov, had promised to release non-fungible tokens (NFTs) to help the country gather more resources to help its armed forces currently fighting Russia.
After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens
¡ª Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022
Now, the Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov has claimed that the country will roll out NFTs representing stories about the country's war with Russia.
Reuters
Also read: Did Russia Sabotage Satellite Internet In Ukraine Before The Invasion? Probe Underway
Just last week, Bornyakov took to Twitter to explain how funds raised through cryptocurrency were helping Ukrainians buy bulletproof vests, food, medicine, and other supplies.
Crypto assets proved extremely helpful in facilitation of funding flows to the Amed Forces of Ukraine. Huge thanks to everyone who donated to the Crypto Fund of Ukraine.
¡ª Alex Bornyakov (@abornyakov) March 11, 2022
Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soilders' lives. pic.twitter.com/CghDmXEcJG
In a statement to The Guardian, Bornyakov said that the upcoming NFT collection would be "like a museum of the Russian-Ukraine War." In addition, he said that the development of these NFTs could take some time as they want it to be "cool, good-looking."
AFP
Also read: Tech Company's President Supporting Volunteers Who Want To Fight For Ukraine
Fedorov, too, in a Tweet said that they "will announce NFTs to support Ukrainian Armed Forces soon." The first announcement of an NFT project was made on March 3.
The official website where users from around the world can make crypto donations to Ukraine goes live: https://t.co/UJhiA1jBWc. It has never been so easy to support ??! A beautiful joint initiative of our @mintsyfra in partnership with @everstake_pool and @FTX_Official. We win!
¡ª Mykhailo Fedorov (@FedorovMykhailo) March 14, 2022
According to a blockchain security firm cited called SlowMist (cited by Gadgets 360), the Ukrainian government has received $76 million in just cryptocurrency. It's no wonder that authorities are taking cryptos more seriously.
AP
What do you think about Ukraine's use of NFTs to gather funds for its armed forces? Let us know in the comments below. For more in the world of technology and science, keep reading Indiatimes.com.
References
Bhattacharjee, S. S. (2022, March 14). Ukraine to Launch NFT Collection Depicting Events From Russia War to Raise More Crypto Funds. NDTV Gadgets 360.
Milmo, D. (2022, March 14). Ukraine to launch NFT to mark history of Russian invasion. The Guardian.
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