Ukraine to Launch NFTs to Fund Armed Forces

Ukraine plans to launch its own collection of non-fungible tokens (NFTs) to support its armed forces as it embraces the flood of cryptocurrency donations to fund its defensive against Russian troops.

“Every day there are more and more people willing to help Ukraine to fight back the aggression,” Ukrainian vice-prime minister Mykhailo Fedorov wrote in a tweet on Thursday.

“We will announce NFTs to support Ukrainian Armed Forces soon,” Fedorov said, without adding further details.

Ukraine had recently raised more than $270 million in digital “war bonds”.

Meanwhile, an NFT of the Ukrainian flag sold for roughly $6.75 million on Wednesday and its proceeds will go to relief operations by nonprofit Come Back Alive. It was organized by a decentralized autonomous organization backed by a Russian activist group.

Fedorov, also Ukraine’s minister of digital transformation, spearheaded the efforts to raise funds through digital assets “to destroy as much Russian soldiers as possible”.

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