Amid its ongoing invasion from the Russian Federation, the Ukrainian government wants to depict some war moments to show the world in the form of non-fungible tokens (NFTs). Thus, the nation continues to employ the asset class to help fund its defense.
Russia-Ukraine War as NFTs
The popularity boom of the NFT sector last year led to countless musicians, sportspeople, businesses, and other celebrities and prominent figures hopping onboard. However, Russia’s decision to launch a “special military operation” in Ukraine prompted the latter’s government to try using digital collections to aid its struggling defense.
At first, Ukraine wanted to airdrop some of the proceeds it garnered from cryptocurrency donations, which are in the tens of millions of dollars now. However, it failed to do so and decided to go with an NFT route.
As reported by The Guardian, the nation’s deputy minister of digital transformation, Alex Bornyakov, has provided more details on the matter. He asserted that the digital collections will be “like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format.”
The politician refused some assumptions that the crypto proceeds will be used to buy weapons. Instead, he promised that they will go for defense equipment and to fund media activities.
“We are buying night-vision goggles, optics, helmets, bulletproof vests.” – he added.
CryptoPotato reported last week the plans of Wladimir Klitschko – the former heavyweight boxing champion – to launch an NFT collection to raise funds for his homeland Ukraine.
Russian Social Propaganda Disabled?
Before its invasion of Ukraine, the Russian government began a media campaign justifying its future actions and explaining to locals why it had to do what it planned to do. Bornyakov labeled this approach one of Russia’s most powerful weapons and believes that global brands, such as Facebook and Instagram, have done the right thing by blocking access to such content.
“We convinced social media platforms, international companies, to either block Russia, go out from Russia, or completely change their information policy.” – he added.
It’s worth noting that portions of the crypto industry also undertook a similar approach, with Coinbase blocking 25,000 Russian addresses supposedly linked to illegal activities.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: