NFT sales will fund the restoration of physical monuments in Ukraine
Ukraine's Meta History Museum of War platform raised $1.3 million from NFT sales
By Shashank Bhardwaj
The government of Ukraine has decided to use the proceeds from the sale of NFTs from an NFT museum–Meta History Museum of War platform–to fund a restoration drive for real-world artworks in the country.
The Ministry of Culture and Information Policy stated that the money raised from the sales would be used to restore Ukrainian cultural institutions, many of which have been harmed or destroyed during the Russian missile attacks. 803.28 Ether (ETH), or nearly $1.3 million, was raised from an NFT sale at the time from the government-sponsored Meta History Museum of War platform. The online platform intends to preserve the timeline of major incidents in Russia's war with Ukraine.
The deputy minister of Digital Transformation of Ukraine for Information Technology Development stated, "The NFT will not stop Russian missiles, but it offers a way for Ukraine to develop as an innovation-friendly country and to rebuild its economy."
One month after the first missiles were fired in the country amidst the ongoing conflict, a non-profit organisation established the Meta History project with assistance from the Ukrainian government. The Ministry of Culture and Information Policy said that the funds would not be used to replenish military equipment but would be used to support restoration. Earlier, Aid For Ukraine, a government-run website that accepts bitcoin donations "to support people in their war for freedom”, was to be the beneficiary of the amount raised from NFT sales.
According to UNESCO, as of Monday, 164 cultural monuments in Ukraine had suffered partial or total destruction due to the conflict with Russia. UNESCO is responsible for many of the world's historical sites because of their value to history, nature, and art. There are 72 places of worship, 12 museums, 32 historic structures, 24 venues for cultural events, 17 monuments, and seven libraries.
In June, UNESCO director-general Audrey Azoulay said, “These repeated attacks on Ukrainian cultural sites must stop. Cultural heritage, in all its forms, should not be targeted under any circumstances.”
Over $100 million in crypto donations have been transmitted to wallet addresses issued by the Ministry of Digital Transformation since the conflict with Russia broke out in February, benefiting the Ukrainian government. The country's military and humanitarian help are funded using crypto donations, according to Aid For Ukraine.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash