Ukrainian Government To Launch NFT To Mark History Of Russian Invasion

JAKARTA - The Ukrainian government will launch a non-fungible token (NFT) marking the history of Russia's invasion with a unique digital art, in its use of a new digital asset to fund its war effort.

Ukraine's Deputy Minister of Digital Transformation Alex Bornyakov said the NFT collection would be "like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format."

NFTs give ownership of unique digital goods, with virtual artwork proving to be very popular, to their buyers, even if the goods can be easily copied.

Bornyakov said each token will carry an artwork that represents a story from a trusted news source.

"We want it to be cool, good and timeless," he said, as reported by The Guardian on March 13.

The NFT collection is being prepared as a request by the Government of Ukraine, for cryptocurrency donations that exceed US$60 million or approximately Rp.858.852 million, with donations including NFT CryptoPunk valued at over US$200,000 or approximately Rp.2.862.840.000.

Bornyakov said the money was used to buy military equipment and to fund media activities.

"We are not using these funds to buy weapons at this time. We are buying night vision goggles, optics, helmets, bulletproof vests," Bornyakov said.

He further explained that Ukraine's 'digital diplomacy' has paid off, with social media platforms blocking Russian Government media content, such as Russia Today and Sputnik.

"We convinced social media platforms, international companies, to block Russia, exit Russia, or completely change their information policy," he said.

Referring to social media as one of the Kremlin's weapons in the conflict, Bornyakov said last week: "Most of their weapons are deactivated. At this point, after two weeks. So this is what I call a positive result."

Bornyakov added that the volunteer army of IT specialists, who run on the channel of the messaging app Telegram, reminded the Kremlin of how the constant stream of cyberattacks in recent years has made 'our lives terrible'.

Crypto assets proved extremely helpful in facilitation of funding flows to the Amed Forces of Ukraine. Huge thanks to everyone who donated to the Crypto Fund of Ukraine. Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soilders' lives. pic.twitter.com/CghDmXEcJG

— Alex Bornyakov (@abornyakov) March 11, 2022