March 28, 2022
Ukraine is selling nonfungible tokens (NFTs) inspired by Russia’s invasion, with the proceeds going toward the support of the nation’s army and civilians, Vice Prime Minister Mykhailo Fedorov announced on Friday, March 25, reports Forbes.
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 called a “special military operation” in Ukraine.
The sale’s format and prices will be announced in the coming days, a representative told Forbes, saying 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.”
To date, Ukraine has received $65.9 million in cryptocurrency 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.
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 also has 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.”
Research contact: @Forbes