Ukrainian government to accept NFT donations
Ukrainian government launched a website for people to buy and donate NFTs to raise donations for war efforts
Last Updated: Apr 29, 2022, 13:46 IST1 min
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In a bid to raise more funds for its ongoing war with Russia, the Government of Ukraine will accept donations and contributions in non-fungible tokens (NFTs). To facilitate these NFT purchases and donations, the government has launched a new website. The raised funds will go directly to the official ‘Aid for Ukraine’ crypto fund. A total of $60 million funds have been raised so far via the initiative.
The cryptocurrencies, NFTs, and fiat collected via the official fund are being used to refurbish war supplies such as weapons, bulletproof vests, eatables, medical kits, medical gear, and other expenses mentioned on the Aid for Ukraine website. By April, total expenses funded for the war had amounted to $45,103,538. Crypto exchanges FTX, Kuna, and staking provider Everstake power the country"s crypto donation platform.
Ukraine’s Vice President and Minister of Digital Transformation, Mykhailo Fedorov, tweeted on Wednesday, “All funds as always will contribute to the Ukrainian victory. Ready, steady, NFT."
The NFTs donated under the ‘UkrainianCryptoFund’ are available to bid on the OpenSea Marketplace and include NFTs from Cryptopunks, mFers, TIMEPieces, MoonCats, Chubbiverse Frens, CREYZIES, etc. The website has an Ethereum address For anyone wanting to donate NFTs. The website also lists a number of collections supported by the government. Some of those collections are Russia for Sale, where people can buy Russian lands as NFTs Holy Water, which supports Ukrainian NFT artists and Doge in Ukraine.
Ukraine released its own NFT collection in March, which is not listed on the new website. The government has announced another NFT drop scheduled to happen on May 1. The Ukrainian government has also launched a virtual gallery to display war memories. The Ukrainian government has been upfront in embracing cryptocurrencies and digital assets to support the ongoing war and its humanitarian efforts.
On the other hand, citizens—both Russian and Ukrainian—had to get accustomed to using cryptocurrencies to sustain themselves. Alex Bornyakov said on Twitter, “Blockchain, crypto & NFT won"t stop the missiles, but do offer a way to protect our defenders and rebuild Ukraine as an innovation-friendly country."
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
First Published: Apr 29, 2022, 13:46
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