Ukraine all set to debut NFT collection to fund war efforts
The involvement of cryptocurrencies in the ongoing war between Russia and Ukraine took an interesting turn with the latter set to release a non-fungible token (NFT) collection with the aim to aid the nation's war efforts.
Ukraine set to debut NFT collection
It is also important to note that as per the report from The Guardian, the deputy minister of digital transformation of Ukraine, Alex Bornyakov said that the "NFT collection would be like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format."The concept of NFTs is that they represent ownership and are unique blockchain-based assets. Hence, Ukraine intends to make use of this quality and create unique digital art pieces that represent a news story from a trusted news outlet. Moreover, since NFTs are blockchain-based assets, no one will be able to copy the art and make it their own.
"We don’t use this fund to buy weapons at this point. We’re buying night-vision goggles, optics, helmets, bulletproof vests," Bornyakov added in his statement. Moreover, he also said that the NFT collection is "cool, good-looking, and it takes time."
Crypto funding for the nation
The nation has been actively receiving funds in millions of dollars from other nations, firms, and individuals. In a recent tweet from Alex Bornyakov, it was revealed that Ukraine has been actively buying a lot of basic items for soldiers but he also revealed that no nuclear weapons for rockets were bought. The tweet said:Crypto assets proved extremely helpful in the facilitation of funding flows to the Amed Forces of Ukraine. Huge thanks to everyone who donated to the Crypto Fund of Ukraine.As per another report from Cryptonary, we noted that crypto donations received by Ukraine were used to buy drones, gasoline, military supplies, and lunches that would help the soldiers to defend against the Russian attacks.
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