The Ukraine’s Ministry of Digital Transformation announced the launch of ‘Meta History: Museum of War’ non-fungible-token (NFT) collection to depict the Russian-Ukrainian war. This development comes as Ukraine continues to be invaded by Russia. The NFTs can be bought online the museum’s website starting Wednesday.
For the uninitiated, NFTs are any digital items such as drawing, painting, music, GIF, etc., that are recorded on a Blockchain distributed database. NFTs are immutable, meaning that once uploaded they cannot be modified or edited.
The NFT museum is an online website that chronicles events of the war, including personal reflections from both Ukrainian and international digital artists. Ukraine wants “to preserve the memory of the real events of that time, to spread truthful information among the digital community in the world, and to collect donations for the support of Ukraine,” a statement on its website read.
What makes this NFT collection unique is that all the NFT images are hidden until sold, meaning that you won’t know what you’re buying until you’ve purchased it. As the museum puts it: “You unveil the truth buying MetaHistory.”
It should be noted that each NFT image is created using  Fair NFT platform, which uses the Ethereum blockchain and Polygon network.
According to the Forbes, the NFT museum will garner sales between $2 million and $3 million, featuring  5,000 to 7,000 NFTs priced at around $450 each.
All  funds obtained from the NFT sale will go directly to the official cryptocurrency accounts held by the Ministry of Digital Transformation to support the army and civilian aid. In a tweet the NFT collection explained: “Museum of War is a 100% good and secure deal because we use a smart contract agreement that sends money directly to the Ministry of Digital Transformation’s wallets to support Ukraine.”
According to data collated by Merkle Science, Ukraine has already received over $88 million in cryptocurrency donations alone, and the government currently has about $7 million in Ethereum in its wallet. The Ukrainian government has been asking for financial support in cryptocurrency such as Bitcoin, Ethereum, Tether, and Polkadot, Dogecoin, TRON, Solana, and in NFTs.
Meanwhile, in a tweet on March 11, Alex Boryakov, Ukriane’s deputy minister of digital transformation explained that the crypto funds received are being used to buy goggles, optics, helmets, bulletproof vests. Atleast 5500 bulletproof launches, 500 ballistic plates, 3,427 medicines, 60 walkie talkies, 410,000 packed lunches, 3,125 thermal imager and 500 helmets have been bought using the cryptocurrency donations received globally.
🗞 Subscribe Now: Get Express Premium to access our in-depth reporting, explainers and opinions 🗞️
For all the latest Technology News, download Indian Express App.


Published On: April 23, 2022 / Categories: Uncategorized /

Subscribe To Receive The Latest News

Stay upto date with latest developments

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

Add notice about your Privacy Policy here.