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NFTTech

Ukraine launches NFT ‘Museum of War’ in the crypto crowdfunding campaign

By
Shubham Sawarkar
Shubham Sawarkar's avatar
ByShubham Sawarkar
Editor-in-Chief
I’m a tech enthusiast who loves exploring gadgets, trends, and innovations. With certifications in CISCO Routing & Switching and Windows Server Administration, I bring a sharp...
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Mar 27, 2022, 4:10 PM EDT
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Ukraine launches NFT 'Museum of War' in the crypto crowdfunding campaign
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On Friday, Ukraine began auctioning off a collection of non-fungible tokens (NFTs) as part of a cryptocurrency fundraising campaign that has so far raised more than $65 million for its war effort, according to Kyiv.

We're building Meta History: Museum of War. #NFT — Never Forget This. 100% of raised funds are sent to @mintsyfra wallets for the support of Ukrainian army and civilians. We can't let these events be forgotten. #NeverForgetThisUA

— Meta History: Museum of War (@Meta_History_UA) March 8, 2022

The ‘Meta History: Museum of War’ collection is a collection of digital images that each represent a particular day in the conflict, including silhouettes of warplanes, screengrabs of news headlines, and a cartoon-style image of an explosion.

FACT + ART = MetaHistory
MetaHistory is a unity of Art and History. Concrete and steadfast language of facts on the one side. Empathic and free-spirited soul of Art on the other. MetaHistory is a Museum of the objective War facts and personal sensations related to such facts. pic.twitter.com/0s7wlbYyiZ

— Meta History: Museum of War (@Meta_History_UA) March 17, 2022

Three days after Russia launched its assault, 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.”

The new NFT series was meant “to spread truthful information among the digital community in the world and to collect donations for the support of Ukraine,” according to a message on the collection’s website.

NFTs (non-fungible tokens) is a sort of crypto asset that gained a lot of traction last year. They use bitcoin’s technology to track who owns a digital file, such as an image, video, or piece of text.

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, lunches, 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 money will be sent directly to Kyiv’s digital crypto wallets.

Many onlookers were confused by the rapid increase in NFT sales, wondering why so much money was being spent on products that don’t exist.

Nonetheless, in recent months, they have become a popular fundraising tool, with groups of people combining their crypto assets to buy NFTs to promote awareness for a specific cause.


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