Topline
Ukraine is selling non-fungible tokens inspired by Russia’s invasion of the country, with the proceeds going toward the support of the army and civilians, Vice Prime Minister Mykhailo Fedorov announced Friday.
Key Facts
The project, part of the Meta Museum History of War, aims to memorialize the invasion, “spread truthful information” online and to collect donations for Ukraine, according to the website.
The 54 NFTs that make up the collection so far explore the events of the Russian invasion chronologically, with pieces inspired by landmarks in the conflict, starting with the February 24 announcement by Russian President Vladimir Putin of what he decided to call a “special military operation” in Ukraine.
Each NFT in the series includes a digital work by an artist—some Ukrainian, some international—inspired by a news headline or social media post tied to the invasion that’s included in the collectible.
Buyers will be able to purchase the NFTs with ether, and all proceeds will go directly to the Ukrainian Ministry of Digital Transformation.
The sale’s format will be announced in the coming days, a representative told Forbes, who said they hope the project raises millions of dollars for Ukraine.
More NFTs are in the works, the representative told Forbes, and the museum plans to create digital collectibles to “continue depicting . . . history until this awful war will end.”
Big Number
$65.9 million. That’s the value of cryptocurrency Ukraine says it has received to help fund its war efforts. Earlier this month, an NFT of the Ukrainian flag sold for roughly $6.75 million with proceeds going to Come Back Alive, a group that supports the Armed Forces of Ukraine.
Key Background
Ukraine, which in 2019 established its Ministry of Digital Transformation, has used the internet and crypto to help wage a “digital battle” against Russia. Federov has used his Twitter account to shame companies still operating in Russia as many choose to suspend business there amid the invasion. The ministry has also directed hackers—who are volunteers and not officially affiliated with the Ukrainian government—to temporarily take down websites for the Moscow Exchange and other Russian institutions. “We are the first in the world to introduce this new warfare. And it’s powerful, yet simple at the same time,” Oleksandr Bornyakov, Ukraine’s deputy minister of digital transformation, told Politico earlier this month. “It’s impossible to disrupt it or break it down.”
