Ukraine to launch NFT collection representing Russia-Ukraine war

NFTs are any digital assets stored on a Blockchain distributed database, such as a drawing, painting, music, GIF, and so on.

The Ukrainian government has announced the creation of a non-fungible-token (NFT) collection to recount the tale of Russia’s invasion. The collection, according to Alex Boryakov, the country’s deputy minister of digital transformation, would be “like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format.”

For the uninitiated, NFTs are any digital assets stored on a Blockchain distributed database, such as a drawing, painting, music, GIF, and so on. NFTs are immutable, which means they can’t be changed or amended after they’re published.

Bornyakov stated that each NFT piece will depict a wartime tale. Every work of art would be accompanied by a credible news source. “We want it to be cool, good-looking, and it takes time,” he said to The Guardian.

According to Merkle Science records, Ukraine has already received over $88 million in cryptocurrency donations, and the government presently holds over $7 million in Ethereum in its wallet. The Ukrainian government has requested financial assistance in the form of cryptocurrencies such as Bitcoin, Ethereum, Tether, and Polkadot, as well as Dogecoin, TRON, Solana, and NFTs.

Boryakov noted in a tweet on March 11 that the cryptocurrency donations received are being utilized to purchase goggles, optics, helmets, and protective vests. Using cryptocurrency contributions collected throughout the world, at least 5500 bulletproof launchers, 500 ballistic plates, 3,427 medications, 60 walkie-talkies, 410,000 packed lunches, 3,125 thermal imagers, and 500 helmets have been purchased.

The Bored Ape Yacht Club (BAYC) NFT collection revealed earlier this week that it has contributed $1 million in Ethereum coin to Ukraine’s official crypto wallet address. “It’s been inspiring seeing our community come together in support of Ukraine – almost $1m in ETH has been donated to Ukraine by wallets containing a BAYC ecosystem NFT. Today we’re matching that with a $1m ETH donation of our own.”

Famous celebrities possess BAYC NFT, including basketball legend Steph Curry, music musician Post Malone, and even American TV presenter Jimmy Fallon. Rapper Eminem was the most recent to join the NFT frenzy, with his first BAYC buy costing 123.45 Ether, which is worth $452,000 at the time (Rs 3.36 crore approx.)

Meanwhile, the cryptocurrency wallet Metamask and the NFT marketplace OpenSea have blocked any accounts based in the US government-sanctioned nations. This comes after the United States and its allies slapped sanctions on Russia in response to Moscow’s invasion of Ukraine.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time