NFT News

A timeline of the Russian invasion is being sold as non-fungible tokens in Ukraine

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The government of Ukraine is generating money by selling non-fungible tokens (NFTs) based on a timeline of Russia’s continuous invasion of the country. Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation, announced the launch of the collection on Twitter, bragging that “while Russia deploys tanks to harm Ukraine, we rely on innovative blockchain technology.” All proceeds will benefit Ukraine’s “army and people,” according to the Ministry of Digital Transformation.

The “Meta History: Museum of War” collection pairs blockchain tokens with a news item about “every significant event of the war” and an artist’s illustration. There are presently 54 NFTs for sale, with the first going up for sale early next week, covering the first three days of the war in late February. The idea is based on the Fair blockchain company’s NFT sales platform.

The introduction of the NFT, which was announced in March, replaces an earlier proposal to “airdrop” free tokens to those who donated cryptocurrency to Ukraine. The airdrop strategy was plagued by a copycat scam and allegations that not all cryptocurrency donors would receive tokens. There is presently no plan in place to give earlier contributors a discount on the new NFTs.
Cryptocurrency has played a role on both sides of the conflict, but Ukraine has utilised it in particular to circumvent banks and local currency limits, as well as to take advantage of crypto hype to raise funds. In the first three weeks, the Ukrainian government claimed to have raised $54 million in cryptocurrencies (which, according to another estimate, may be an understatement).


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