Ukraine launches NFT 'Museum of War' to raise funds for its military
Desperate times call for creative measures.
Ukraine has launched a non-fungible token (NFT) 'Museum of War' to remember the war and to raise funds for its military. Mykhailo Fedorov, Ukraine’s minister of digital transformation took to Twitter on Friday to announce the new initiative.
“While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech,” Fedorov tweeted, adding that the new venture would help “keep the memory of war” and “celebrate the Ukrainian identity and freedom.”
While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech. @Meta_History_UA NFT-Museum is launched. The place to keep the memory of war. And the place to celebrate the Ukrainian identity and freedom. Check here: https://t.co/IrNV0w54tg— Mykhailo Fedorov (@FedorovMykhailo) March 25, 2022
Meta History: Museum of War
The 'Meta History: Museum of War' collection is composed of digital images that mark different days in the ongoing conflict between Russia and Ukraine. They consist of news stories, tweets, and illustrations of the war. The project uses the blockchain platform Fair.xyz to facilitate its transactions.
It currently has 54 NFTs for sale and states that its mission is to "preserve the memory of the real events of that time, to spread truthful information among the digital community in the world, and to collect donations for the support of Ukraine."
The website also adds that "100% of funds from the sale will go directly to the official crypto-accounts of the Ministry of Digital Transformation of Ukraine to support army and civilians."
NFTs work as verifiable assets with unique identifiers and attributes that give them their worth. They consist of individualized digital commodities that can’t be exchanged for another asset, but only for themselves.
According to data from blockchain analytics firm Elliptic, more than 102,000 crypto asset donations reaching a value of $54.7 million have already been submitted to the Ukrainian government and Come Back Alive, an NGO whose aim is to support the military, since the beginning of the war. That number is only set to increase with this latest creative venture from the country.
Ukraine's NFTs currently cost about 0.15 ether, an equivalent of just over $475.