Ukraine continues to use cryptocurrency and non-fungible tokens (NFTs) to fund the two-month long ongoing Russia-Ukraine war.
The Ukrainian government will accept war effort contributions in the form of nonfungible token (NFT) donations and purchases, according to Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine.
Individuals may now contribute NFTs, fiat currency, and crypto to the official “Aid for Ukraine” crypto fund, which was launched in January 2019. According to the website, so far more than $60 million has been collected.
The funds are used to buy weapons, medical supplies, medical kits, and other expenditures listed on Aid for Ukraine’s website. By April 14, the total cost was $45 million. Blockchain exchanges FTX and Kuna, as well as staking provider Everstake, power the Aid for Ukraine platform.
Ukraine’s Ministry of Digital Transformation has taken part in many NFT initiatives, including Russia For Sale, which sells Russian real estate as NFTs, and Holy Water, which aids Ukrainian NFT artists. Individuals who acquire an NFT from one of these organizations directly support the crypto wallet of the Ministry’s Crypto Wallet.
CryptoPunks, mfers, MoonCats, TIMEPieces by Time Magazine, CREYZIES and Chubbiverse Frens are among the NFTs generated by “UkrainianCryptoFund” and available to bid on in OpenSea.. For payment, all of these collections accept only Ether (ETH).
As with many other nations around the world, Ukraine has had to embrace digital assets in order to fund humanitarian operations. Many Ukraine and Russian citizens have had to get acquainted and accept utilizing cryptocurrencies in support of themselves as well.
Fedorov tweeted on March 3 that the government would use NFTs to pay for its military. To commemorate the memory of war, Ukraine’s Ministry of Digital Transformation established a virtual gallery with NFTs.