Ukraine Gathers Over $600K Via NFT Trading

Nearly 1,282 NFTs have been sold by Ukraine on the earliest day of the trading of a cumulative of 190 ETH (Ether), which is associated with nearly $655,000 at present, as reported by Bloomberg News, referring to an email sent on the behalf of the Digital Transformation Ministry. The country wants to utilize the profits to reconstruct heritage as well as culture-related sites such as theatres and museums that were destroyed during the Russian conflict.

According to a tweet shared by the Ukrainian MetaHistory NFT-Museum, the advancement of the all-day-long sales with the recent public tally declared that up to 1,153 NFTs were sold in return for approximately $500,000. Apart from this, it was declared that one among the exclusive NFTs would be given away by the country without any cost to rejoice that the sales touched half a million.

Moreover, META HISTORY declared that just those people who possessed the non-fungible tokens would be permitted to buy the artworks of the winners of Prospect 100, along with the earliest four artworks manufactured in the project. In a tweet, the team of the project mentioned that the target of the project is to touch the 1 million mark.

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The dependence of Ukraine on crypto during the war

In February, when Russia invaded Ukraine on a large-scale, people from across the globe began making donations in cryptocurrency to diverse NGOs involved in assisting the battle endeavors. Ukraine rapidly came on board and initiated to post formal wallet addresses to which the funds could be donated by the people. While reacting to this, the industry, as well as the community of cryptocurrency, got full throttle and numerous NFTs, as well as crypto funds, were donated.

The official website of the country’s authorities for crypto donations obtained almost $70M worth of crypto after the start of the conflict. At present, Ukraine is embracing the bulk of crypto donations and counts to be at fourth rank across the world so far the adoption is concerned. In addition to this, it acknowledged crypto to be a legitimate asset presently.

Bitcoin as a humanitarian instrument

Both the Russian and Ukrainian residents stepped toward crypto in an attempt to protect their funds when the financial systems of these countries underwent a serious downfall during the sanctions and war. Currently, Alex Gladstein – the Human Rights Foundation’s chief strategy officer – stated that BTC counts to be a significant humanitarian instrument permitting people to endure extreme situations like war.