Ukraine raises over $600K via NFT sales to rebuild cultural sites

Ukraine sold 1,282 NFTs connected the archetypal time of merchantability for a full of 190 Ether (ETH), which equates to astir $655,000 astatine the clip of writing, Bloomberg News reported, citing an email from the Ministry of Digital Transformation.

The state intends to usage the proceeds to rebuild taste and practice sites similar museums and theatres that were destroyed amid the warfare with Russia.

The Ukrainian MetaHistory NFT-Museum tweeted the sales’ advancement passim the time with the past nationalist tally announced astatine 1,153 NFTs sold for much than $500,000. The state besides announced that it would springiness distant 1 of the unsocial NFTs for escaped to observe hitting the fractional a cardinal mark.

Official NFT Collection of the Ukrainian Government,

Is live!

To observe $500,000+ raised, we volition beryllium giving distant 1 of our unsocial NFTs.

To participate
1. Follow @Meta_History_UA
2. Like and retweet this post

Mint Now: https://t.co/ig8rEIPZxh#NeverForgetThis pic.twitter.com/7ImhvMk5OD

— META HISTORY: Museum of War (@Meta_History_UA) March 31, 2022

Additionally, META HISTORY announced that lone radical who owned 1 of the NFTs would beryllium eligible to acquisition the imaginable 100 winning artworks, arsenic good arsenic the archetypal 4 artworks created nether the project.

We’ve already sold 1153 artworks and the income spell on. Our extremity is 1million!
Have raised much than 500k USD by now!
Only NFT owners volition beryllium capable to bargain the masterpieces of the Prospect 100 winners and the precise archetypal 4 artworks soon. Support Ukraine! pic.twitter.com/HfK747cpxN

— META HISTORY: Museum of War (@Meta_History_UA) March 31, 2022

Ukraine’s reliance connected crypto amid war

When Russia began its full-scale penetration of Ukraine successful precocious February, radical from astir the satellite began donating crypto to assorted NGOs that were helping successful the warfare effort. Ukraine rapidly jumped connected committee and began posting authoritative wallet addresses that radical could donate to.

Stand with the radical of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.

BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14

— Ukraine / Україна (@Ukraine) February 26, 2022

In response, the crypto assemblage and industry turned up successful afloat unit and donated millions successful cryptocurrency and adjacent NFTs. The government’s authoritative website for the donations states the state has received much than $70 million successful crypto since the warfare began.

Ukraine present accepts donations successful a multitude of cryptocurrencies and is 4th successful the satellite successful presumption of adoption. It besides officially recognizes crypto arsenic a legal asset now.

Following the monolithic influx of donations, Ukraine said it would behaviour an airdrop for everyone who had donated ETH. However, little than a afloat time aboriginal the state canceled nascent plans to airdrop an authoritative cryptocurrency and said it would alternatively absorption connected issuing NFTs to rise funds.

Bitcoin is simply a humanitarian tool

Citizens of some Ukraine and Russia turned to crypto to effort and prevention their wealthiness erstwhile their respective fiscal systems fell isolated amid warfare and sanctions.

1/2 Crazy story,my webmaster escaping from Ukraine 2 hours earlier the gvnmt closes the borderline for men of warfare age,bank ATMs were blocked of course,and helium who upon my proposal had preloaded his hw wallet with #Bitcoin,makes it successful clip to transverse the Polish borderline and retreat #BTC… pic.twitter.com/ACWr4ZHvbQ

— Francesco Madonna (@CiccioMadonna) February 25, 2022

At the time, main strategy serviceman of the Human Rights Foundation Alex Gladstein said that Bitcoin (BTC) was an “important humanitarian tool” that allows radical to past successful utmost scenarios, specified arsenic war.

Gladstein said:

“The information that it can’t beryllium frozen, the information that it can’t beryllium censored, and the information that it tin beryllium utilized without ID is very, precise important.”