- Ukraine goes on with crypto utilization for help with its military supplies in the ongoing war with Russia.
- The invaded country will now accept war effort contributions in Non-Fungible Tokens (NFTs) donations and purchases, highlights Mykhailo Federov.
- The Official Aid For Ukraine website signifies that the initiative has already secured considerable donations so far.
It has been over two months since the Russia-Ukraine war started. Neither Russia’s intentions have faded nor Ukraine’s efforts to defend itself. And in that effort, the invaded country has now taken another move regarding its donations.
Ukraine’s Vice Prime Minister and the Minister of Digital Transformations, Mykhailo Federov, has recently highlighted via his Twitter that the country will accept war effort contributions in Non-Fungible Tokens (NFTs) donations and purchases.
Initiative Accumulated Over $60M So Far
Folks can now donate NFTs along with Cryptocurrencies and fiat to the official Aid For Ukraine crypto fund. The website signifies that the initiative has managed to secure approximately $60 Million so far.
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
— Mykhailo Fedorov (@FedorovMykhailo) April 27, 2022
He highlighted that all funds, as always, would contribute to the victory of Ukraine. And wrote Ready, Steady, NFT.
All the worldwide contributions to the fund are utilized for supplying Ukrainians with medical gear, medical kits, weapons, and all other expenses mentioned on the website. The official platform is supported by crypto exchanges FTX and Kuna and the staking facilitator Everstake
The Ministry for Digital Transformation in Ukraine is the beneficiary entity of various NFT projects comprising Russia for sale that sell Russian land in the form of NFTs. And also, Holy Water that supports local NFT artists in Ukraine and others.
The Vice Prime Minister first signified NFT and used them to help pay for its military earlier in March. And the Ministry of Digital Transformation of Ukraine also rolled out a virtual NFT gallery to preserve the memory of war.
This war had bolstered the adoption of cryptocurrencies in both Russia and Ukraine. As the access to conventional finance systems became a bit tough for the citizens, they turned their heads towards the asset class. And indeed, cryptocurrencies have played a vital role in aiding Ukraine. It is to look forward to how the asset class contributes further.
Source: https://www.thecoinrepublic.com/2022/04/29/ukrainian-government-now-nfts-ready-starts-accepting-donations/