An NFT collection launched by the Ukrainian government to support the country as it fights off the Russian invasion and to fight against disinformation will go up for auction on March 30.
Since the beginning of Russia's invasion, Ukraine has shown interest in using non-fungible tokens (NFT) as a means to support the economy. On March 30, the sale of a collection entitled "Meta History: Museum of War" is sure to cause a stir. The tokens will take the form of artists' illustrations linked to major events in the war. The starting price is 0.15 ETH (or around $500). So far, the collection includes 54 NFTs covering the first three days of the war, and can be found on the Fair.xyz platform.
Ukraine's Ministry of Digital Transformation, which initiated the project, said the funds would be used entirely to support the Ukrainian military and civilians. With this collection, the aim is "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." As such, the NFTs become a means of fighting against disinformation that "is used by Russia on a par with deadly military weapons in Ukraine."
Since the conflict began, blockchain technology has enabled the launch of several initiatives to help support the people of Ukraine. On March 14, the country launched a website to allow individuals around the world to make crypto donations. By amassing the first donations at the beginning of the conflict, the organization was able to collect more than $71 million. By early March, it was the Ukrainian flag in the form of an NFT that sold for $6.7 million.
The release of this collection comes days after the Ukrainian government passed a law to launch a legal market for digital assets. Among other things, the legislation will allow virtual asset providers to open accounts in Ukraine's banks. Citizens will also be able to trade in cryptocurrencies and their investments would be protected.
