NFT (non-fungible token) is an interchangeable unit of data on the blockchain. It can be sold or traded but can not be shared associated with media and the unique nature of each token. In 2020, the NFT market has increased like a wildfire, everybody’s gone crazy about it. After Zukarburg fished METAverse and launched a Web 3 era NFT trading has gone over 91.8 million dollars.
However, NFTs have found a new form of utility in the form of “war bonds,” which we haven’t seen before, given Russia’s sudden and impulsive decision of the country. The money raised through NFTs can be used to help aid the country’s defense and help Ukraine rebuild its cultural infrastructure.
The government aims to use this money to rebuild museums, theaters, and other cultural institutions in Ukraine that were destroyed by the Russian invasion. The museum raised the sum on the first day of the sale of the virtual exhibits. The amount raised will be donated to a cryptocurrency fund set up by KUNA (Ukrainian Cryptocurrency Exchange) to support the Ukrainian army and digital cyber resistance.
What Brings Ukraine Into NFT Sale?
Ukraine has received over $100 million in crypto donations since the Russian seizure According to Merkle. The Ukraine Ministry of Digital Transformation created its website in partnership with FTX, Kuna to accept donations, which features crypto donations prominently.
In an email “The NFTs are meant to document the war through artwork that features rubble and destruction, Ukrainian soldiers, fires burning, and the Ukrainian flag,” said the ministry of digital transformation, Ukraine
The art depicted in the NFTs tells the story of Russia’s Seizure of the country, illustrating the wreckage of buildings, fallen soldiers, and burning flags – all displayed as NFTs to solemnize the events of the previous two months since the tension began in February. An NFT includes real news published by an official source and an illustration drawn by a Ukrainian artist.
To conserve the history of the events, the NFTs will be minted chronologically. Additionally, Ukrainian artists will use their art skills to showcase how the war is perceived by the population of Ukraine – from the beginning until the final moments of the ClashIn addition to raising awareness and maintaining historical records, the Metahistory Museum will also work with other ongoing initiatives to collect donations for supporting the Ukrainian military and citizens.