MOSCOW – Ukraine auctioned non -fungible tokens (NFT) to promote cryptocurrency fundraising, on Friday (25/03/2022) yesterday.
The NFT collection “Meta History: Museum of War” is a series of digital images, including silhouettes of fighter jets, footage from news reports and cartoon images of explosions.
Each photo represents a different day during the ongoing conflict between Russia and Ukraine.
Citing Reuters.com, three days after Russia launched an attack on Ukraine, Ukraine’s Ministry of Digital Transformation sent a request to accept donations in the form of digital tokens such as Bitcoin and Ether.
Non-Stick Tokens (NFT) are a type of crypto asset that has soared in popularity over the past year. NFT uses blockchain technology to find out who owns digital image, video or text files.
NFTs are usually purchased with cryptocurrencies such as Ether. NFT Ukraine will initially trade at 0.15 Ether, or around $475. The NFT Ukraine Group website says funds will be channeled directly to Ukraine crypto wallets.
Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov said that donations of Ukrainian cryptocurrencies are used to buy necessities for its troops such as flak jackets, helmets, lunch and medicines.
The growing popularity of NFTs and the huge increase in NFT sales have baffled some observers as to why so many people spend money on items that don’t actually exist. But NFT has become a popular fundraising tool in recent months.