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Ukraine approves NFT donations and purchases at a total cost of more than $45 million
Mykhailo Fedorov, Ukraine's Deputy Prime Minister and Ukraine's Minister of Digital Transformation, tweeted that the Ukrainian government would accept contributions to the war effort in the form of donations and purchases using the NFT. Through the official "Aid for Ukraine" cryptocurrency fund, individuals can donate cryptocurrencies, fiat and now NFTs. So far, the initiative has raised more than $60 million.
All funds for the supply of weapons, medical equipment, medical supplies to Ukrainians and other expenses are posted on the aid website for Ukraine. The total cost amounted to $45,103,538 on April 14. The Aid for Ukraine platform is supported by cryptocurrency exchanges FTX and Kuna, and by Staking provider Everstake.
The new big update of @_AidForUkraine website. We’ve added the NFT section: now you can donate or buy NFTs. All funds as always will contribute to the Ukrainian victory. Ready, steady, NFT 👉 https://t.co/x7OscenXCz pic.twitter.com/Zo9hYufHSB
— Mykhailo Fedorov (@FedorovMykhailo) April 27, 2022
The Ukrainian Ministry of Digital Transformation is the beneficiary of a number of NFT projects including Russia For Sale – a russian land sale project in the form of NFTs and Holy Water – a project that supports local Ukrainian NFT artists. NFT buyers from one of the institutions will contribute directly to the ministry's cryptocurrency wallet.
At the present time, NFTs donated by "UkraineCryptoFund" and available for bidding in OpenSea come from projects such as, CryptoPunks, mfers, MoonCats, TimePieces of Time Magazine, CREYZIES and Chubbiverse Frens. All only accept Ether (ETH) for payment.
Fedorov first signaled in a tweet on March 3 that the government would soon use NFTs to help pay for its military. Since then, the Ukrainian Ministry of Digital Transformation has also launched a virtual NFT gallery to keep memories of the war.
Just as the Ukrainian government has fully embraced digital assets to support humanitarian efforts, many Ukrainian and Russian citizens must also get acquainted with and accept the use of cryptocurrencies to support themselves. These are considered the advantages of Bitcoin and a number of blockchain companies have thrived in the context of the war.
