Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation announced on Twitter that the Ukrainian government will accept nonfungible token (NFT) donations and purchases as war effort contributions.
Individuals who can give NFT donations, fiat, and crypto through the official “Aid for Ukraine” crypto fund. According to the website, the initiative has so far raised more than $60 million.
All funds are used to provide Ukrainians with weapons, medical equipment, medical kits, and other items listed on the Aid for Ukraine website. By April 14, total expenses had reached $45,103,538. The platform Aid for Ukraine is powered by cryptocurrency exchanges FTX and Kuna, as well as staking provider Everstake.
Several NFT projects, including Russia for Sale, which sells Russian lands in the form of NFTs, and Holy Water, which supports local Ukrainian NFT artists, are supported by Ukraine’s Ministry of Digital Transformation. Those who purchase an NFT from one of the organizations will make a direct contribution to the Ministry’s crypto wallet.
At the time of publication, the NFTs donated by “UkrainianCryptoFund” and available for bidding in OpenSea came from collections like CryptoPunks, mfers, MoonCats, TIMEPieces by Time Magazine, CREYZIES, and Chubbiverse Frens. All of these collections accept only Ether (ETH) as payment.
Just as the Ukrainian government has fully embraced digital assets to aid humanitarian efforts, many Ukrainian and Russian citizens have had to become acquainted with and accept the use of cryptocurrency to support themselves. Cointelegraph spoke with some of the people who have firsthand experience with the benefits of Bitcoin, as well as some of the blockchain companies that have thrived in the face of war.
Fedorov first hinted in a March 3 tweet that the government would soon be using NFTs to help fund its military. Since then, Ukraine’s Ministry of Digital Transformation has also launched a virtual NFT gallery in order to preserve the memory of war.
To read our blog on “Ukraine increases crypto-friendly regulation efforts, aims for first place” click here.
