Ukraine launches NFT ‘Museum of War’ to get Better Crowdfunding.

Key Takeaways:

  • Ukraine has established a “NFT museum” – Meta History: Museum of War – to raise donations to support its soldiers and citizens who have been targeted by Russia. Sales of NFTs are expected to begin in four days.
  • The project’s aim, according to the Ministry of Digital Transformation’s website, is to “preserve the memory of the true events of that period, to transmit genuine information throughout the global digital community, and to collect donations for the assistance of Ukraine.”

Announcement

The Ministry of Digital Transformation of Ukraine has started an NFT collection to assist pay the country’s military. The NFT collection, dubbed ” Meta History Museum of War,” was first unveiled in early March and is now available. The collection is intended to serve as a “NFT museum” recording Russia’s incursion of Ukraine.

Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation, today announced the launch of an NFT museum on his official Twitter account on March 25, where the most notable incidents of the Ukrainian-Russian conflict will be shown.

The Collection

The collection appears to be the realization of a concept previously proposed by Alex Bornyakov. There are now 54 NFTs in the collection, which capture the occurrences of the first three days of the warfare. Each picture reflects a tweet chronicling some part of the attack and the world’s response to it, and it was created by Ukrainian and worldwide artists. According to a post on the collection’s website, the new NFT series was created “to promote true facts throughout the global digital community and to raise funds for the support of Ukraine.” NFTs (non-fungible tokens) are a sort of crypto asset that gained a lot of traction last year. They employ bitcoin’s technology to track who possesses a digital file, such as an image, video, or piece of writing.

On the Meta History Museum of War website, Ukraine’s Ministry of Digital Transformation notes, “The formula of each NFT is straightforward and simple: each token is a true news report from an official source and an illustration from artists, both Ukrainian and worldwide.” They further added “The NFTs will be developed in chronological order, according to occurrences, in order to preserve and treasure authentic history.”

Crypto Donations

Three days after Russia began its operation, Ukraine’s Ministry of Digital Transformation began seeking donations in digital currencies such as bitcoin and ether, which Moscow refers to as a “special military operation.”

According to Ukraine’s Deputy Minister of Digital Transformation, Alex Bornyakov, the country’s crypto donations have so far been used to purchase protective vests, helmets, meals, and medicines for its soldiers.

NFTs are typically purchased with cryptocurrencies like ether. Ukraine’s NFTs will cost 0.15 ether, or just over $475, at first. According to the website, the funds will be sent directly to Kyiv’s digital crypto wallets.

Ukraine has received more than $65 million in cryptocurrencies, per the Ukrainian Ministry of Digital Transformation homepage.

According to Ukraine’s Deputy Minister of Digital Transformation, cryptocurrencies have played a “major role in Ukraine’s military,” helping to meet the need for food, medication, communications, protective vests, and other items by Ukrainian forces. Despite the fact that practically all of the monies have gone to the Ukrainian Army, the contributions are not being used to purchase weapons at this time.

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Aadrika Sharma

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