Wednesday, October 5, 2022

Ukraine to Launch NFT to Depict History of Ongoing Russian Invasion

War-ladened state Ukraine wishes to tell the story of its Russian invasion in style as it plans to launch a Non-Fungible Token (NFT) collection. This collection of NFTs, according to the Guardian, citing the Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, will be “like a museum of the Russian-Ukrainian war”. 

The war has been ongoing for almost three weeks now, and lots of financial attrition as well as currency devaluation (for Russia) has been suffered. To lessen the effect of the war on Ukraine, donations even in crypto have been received, so far the crypto donations have hit over $54 million and are still counting.

Apart from acquiring a non-fungible token and telling its war tales in NFT format, the government of Ukraine intends to utilize this medium to raise more funds for replenishing their war supplies and relief. 

Bornyakov explained that the funds are not used to purchase weapons but for restocking their military gears like ballistic plates, bulletproof vests, walkie-talkies, helmets, imagers, and for funding the media which has been of great assistance to reduce the effect of the war. 

Non-fungible tokens are pieces of art that hold real-time value. They bestow ownership of virtual digital products on their buyers. NFTs are gradually and deliberately gaining recognition and acceptance globally.

Bornyakov defined the upcoming NFT as one which would represent an event that took place during the war from a reliable source. He characterized the expectation from each token as cool, and good-looking. He verifies that to achieve all of these, a lot of time would be taken.

Positive Outlook For Ukraine 

There has not been an outright pullout from the war by Russia, but Bornyakov believes that the use of media tools has yielded a positive result. 

A good number of the Russian weapons have been disabled, they have been disconnected from the world economy also, and financial service providers like Visa and Mastercard have withdrawn their operations from them.

Ukraine is still receiving donations and is holding up strongly and doesn’t seem deterred by Russia’s continued attacks, not even with Satoshi Labs’ Trezor pulling out their wallet from the country. 

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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