Ukraine Is Working On An NFT Collection To Raise Military Funds
After receiving over US$15 million in cryptocurrency donations, Ukraine is turning to non-fungible tokens (NFTs) to fund its military efforts as it continues to defend the country against Russian invasion.
According to the BBC, this announcement—made via Deputy Prime Minister Mykhailo Fedorov’s Twitter account—comes as the nation has raised more than £200 million (US$264 million) via war bonds.
Fortune noted that the Ukrainian government had first said it would be giving out free cryptocurrency tokens in an “airdrop” in exchange for donations, but canceled the plan just half a day later.
“After careful consideration we decided to cancel [the] airdrop,” tweeted Mykhailo.
“Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We do not have plans to issue any fungible tokens,” he confirmed.
No details regarding the NFT collection have been revealed just yet, but more information is expected to emerge in the coming days.
[via BBC and Fortune, cover image via Palinchak | Dreamstime.com]
