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.
The Russian-Ukrainian War as NFT
The popularity boom of the NFT industry over the past year has led to countless musicians, sportspeople, businesses and other celebrities and personalities joining us. However, Russia’s decision to launch a “special military operation” in Ukraine has prompted the latter’s government to try to use 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, National Deputy Minister for Digital Transformation, Alex Bornyakov, provided more details on this. He said the digital collections will be “like a museum of the Russian-Ukrainian war. We mean 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 buy night vision goggles, optics, helmets, body armor.” – 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?
Prior to its invasion of Ukraine, the Russian government launched a media campaign justifying its future actions and explaining to locals why it had to do what it intended to do. Bornyakov called this approach one of Russia’s most powerful weapons and believes global brands, such as Facebook and Instagram, have done the right thing by blocking access to this 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 should be noted that parts of the crypto industry have also taken a similar approach, with Coinbase blocking 25,000 Russian addresses believed to be linked to illegal activity.
