Ukraine is planning to launch an NFT collection to aid in the war effort


Since the outbreak of the conflict, digital assets such as cryptocurrencies and non-fungible tokens (NFTs) have aided Ukraine. Now, Alex Bornyakov, the nation’s deputy minister of digital transformation, has said that the government should establish its own NFT collection.

The minister said that the digital art collection will be used to pay the country’s combat operations. “The NFT collection would function as a museum dedicated to the Russian-Ukrainian conflict. “We want to communicate with the globe in NFT format,” he said.

Each token would have artwork illustrating a storey from a reputable news source. Bornyakov expects the collection to be “cool, good-looking, and time-consuming.”

“At the moment, we are not using this cash to purchase weapons. “We’re investing in night-vision goggles, optics, helmets, and bulletproof jackets,” he said to The Guardian.

According to Bornyakov, the money raised by the Ukrainian Ministry of Digital Transformation were used to purchase 5,550 bulletproof jackets, 410,000 packed lunches, thermal goggles, and medication. Donations in cryptocurrency to Ukraine have surpassed $60 million.

“Crypto-assets were highly beneficial in facilitating finance for Ukraine’s Armed Forces. “Many thanks to everyone who contributed to Ukraine’s Crypto Fund,” he tweeted on March 11. “Each and every helmet and vest purchased with cryptocurrency contributions is presently saving the lives of Ukrainian troops.”

According to Bornyakov, the digital war between Ukraine and Russia “did not begin 14 days ago. It began eight years ago, and they were continually targeting us in real time with DDoS assaults, website defacement, and database theft.”

Anonymous claimed to have crippled many Russian news websites via denial of service (DoS) operations, while Meta, previously Facebook, enabled people to discuss Vladimir Putin’s aggression on its platforms.

Russia, on the other hand, designated Meta as a “extremist organisation” and subsequently prohibited its activities in the country.

“The majority of their weaponry are rendered inoperable. At this stage, two weeks later. Thus, this is what I refer to as favourable outcomes,” Bornyakov said, referring to social media as a weapon in the Kremlin’s arsenal.

Also Read: Japan Issues A Ban On Crypto Exchanges Processing Transactions Involving Russian Assets

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