Ukraine accepts crypto-donations to rebuild buildings affected by Russian conflict

TL;DR Breakdown

• NFT auction in Ukraine raised about $600000.
• FAPDH agent believes that cryptos help with problem between neighboring countries.

Since the conflict between Ukraine and Russia began, thousands of mechanisms have been applied to avoid a major catastrophe. It is reported that the country in Europe has sold a good amount of NFTs to generate enough money to overcome the problem.

The country recently launched an NFT collection with 1,200 virtual pieces worth almost $655,000 or 190 Ethereum. These funds will be used to rebuild buildings that Russia’s intervention in its territory has destroyed.

Ukraine took advantage of crypto during the armed conflict with Russia

As reported by the MetaHistory Museum in Ukraine, advances in the NFT market have exceeded their expectations, referring to sales reaching about $500000. The project indicates that some 1,153 non-fungible parts have been sold, which is staggering for the project’s company. But the company suggests that a group of NFT enthusiasts intend to obtain the 100 favorite pieces auctioned.

Since February, when the problem between Ukraine and Russia started, various charities have been supporting the country in Europe through crypto. The government is taking advantage of the donation boom to rebuild buildings caught in the crossfire.

Some investigations indicate that Ukraine’s crypto funds so far exceed $70 million. The Ukrainian cabinet believes that crypto is a necessary element at this time, which is why they have given free will to trade.

Cryptocurrencies are useful for Ukrainians

Since the problem began in Ukraine on February 24, citizens have clung to crypto in a way never seen before. Transactions in crypto, passive investments, and NFT trading are top of mind for Ukrainians looking to deal with the crisis.

This crypto trading adoption has applied to Ukraine and the Russians, who are involved in regulations for being war promoters. Citizens in Russia are reportedly turning to crypto after the ruble, their national currency, plummeted below 2 cents on the dollar.

Gladstein Alex, the strategic director of the FAPDH and advisor to Blockchain Capital, believes that cryptos are a helpful instrument that allows citizens in Ukraine and Russia to get out of the crisis. Gladstein clarifies that the virtual market has gained a lot of relevance since the beginning of 2022, and it is expected that by 2023 it will be much more critical.

For now, Ukraine will continue to receive crypto-donations and achieve all the goals it has set for itself with the funds. Meanwhile, Vladimir Putin, president of Russia, remains firm in the face of the conflict despite announcing a ceasefire.