Amidst Ongoing Crisis, Ukraine Launches NFT Museum War

Ukraine continues to leverage blockchain technology to support its course in the conflict with Russia. Today, the Ukrainian government has launched an NFT War Museum to raise more funds for its war efforts.

Ukraine’s NFT collection is to go on sale in about 3 days

Mykhailo Fedorov, Ukraine’s minister for digital transformation, asserted that the initiative is intended to keep the memory of the war and celebrate Ukrainian identity.

While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech. Meta History UA NFT-Museum is launched. The place to keep the memory of war. And the place to celebrate the Ukrainian identity and freedom, Federov said via a tweet.

The project, named Meta History, is essentially a blockchain-based chronicle of the Russian invasion of Ukraine. The collection will feature digital art pieces created by Ukrainian artists since the war began. Each art piece will also carry stories from trusted news sources.

The first drop from the project could come as soon as Tuesday according to a countdown on the web interface of the project. Reports also indicate that each NFT piece would have a price tag of 0.15 ETH (about $466 by the current market price of ETH). Proceeds from the sale will go directly to the ministry of digital transformation.

Crypto has been playing a beneficial role for the war-torn country. Since the Russian invasion began in February, donations in crypto have been pouring in to support the country’s military and citizens. Per data from SlowMist’s dashboard, the total donations to Ukraine stand at $96,523,983.3. Around $63 million of this amount was sent directly to the Ukrainian government’s official wallet.

Deputy minister of digital transformation, Alex Bornyakov, revealed that the donations have been extremely helpful in funding the military.

Crypto assets proved extremely helpful in facilitation of funding flows to the Amed Forces of Ukraine. Huge thanks to everyone who donated to the Crypto Fund of Ukraine.

Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soilders' lives. pic.twitter.com/CghDmXEcJG

— Alex Bornyakov (@abornyakov) March 11, 2022

Ukraine’s president, Volodymyr Zelensky, has also signed a bill to give cryptocurrencies legal status recently.

Is the war accelerating crypto adoption?

Many market commentators have opined that the Russia Ukraine crisis will have the effect of fast-tracking the adoption of cryptocurrencies. The latest to comment was Larry Fink, the CEO of BlackRock, who said that the war was going to make countries re-examine their dependence on traditional payments infrastructure.

Meanwhile, the crypto market has seemingly shrugged off concerns over the war and has been surging. The crypto market capitalization has again crossed $2 trillion. Bitcoin, the market-leading cryptocurrency, is up 25% in the last month and is currently trading at around $44,300.