Remember a few months ago when the Ukrainian Ministry of Digital Transformation began minting and selling NFTs that document the progression of the Ukraine-Russia conflict? When it was first announced, it was one of the more interesting uses of NFTs by a world government and signalled not just fundraising efforts but historical preservation as well.
Now, months later, the efforts of the META History Project seem to have been a success. Recent reports show that the ministry has raised over $1.3 million from the sales of these NFTs which will be used for the support of the Ukrainian troops who have been at the forefront of the war.
Funds Raised for Ukraine
Since the initial launch in March 2022, two NFT collections have been released by Ukraine’s Meta History Museum and a third is due to launch in late July 2022. Given how successful the first two have been, the latest one is expected to bring in much-needed funds as well.
“The idea of immortalizing the history of events in works of art and offering them to those who want to support Ukraine proved viable from day one. The drop in March brought in over $600,000 in 24 hours ⎯ 1,282 of 2,178 NFTs were sold. I think META HISTORY can make a significant contribution to supporting Ukraine by highlighting the truth through NFT art and selling it until the war is over,” says Brittany Kaiser, META HISTORY ambassador.
The new collection will include mediums such as 3D and abstract art and, like its predecessors, will be sold to support Ukrainian troops. Since the war began, the role of blockchain-based assets has been pronounced. From the official collections backed by the Ukrainian government to even private companies selling NFTs to fund the troops, blockchain has certainly taken centre stage.
With this new NFT drop, supporters will be able to get an even closer look at the assets, with behind-the-scenes footage of the making of the NFTs and information from the artists behind them. As VK, the founder of META HISTORY museum explains, there are also plans to improve the user experience over time.
“We are now working to expand its capabilities by adding more options to allow more people to buy artwork. And along with the next drop, free mint will be implemented, we hope. There will also be regular metaverse events where you’ll learn more about the project and the behind-the-scenes,” he says.
NFTs’ Role in the Conflict
NFTs have become an unlikely tool in the ongoing Ukraine-Russia conflict, with massive fundraising being done through them in both the private and public sectors. In future world events, we will likely see NFTs being used even more, whether for cultural and documentation purposes or for fundraising.
These not only benefit different organizations but also make NFTs more visible and accepted within the mainstream world. If this can be leveraged properly, we will see even more positive visibility for NFTs in Ukraine and beyond.