The Ukrainian government announced it will issue non-fungible tokens (NFTs) to fund its armed forces. Vice-prime minister Mykhailo Fedorov confirme
The Ukrainian government announced it will issue non-fungible tokens (NFTs) to fund its armed forces.
Vice-prime minister Mykhailo Fedorov confirmed in a tweet on Thursday that the government would soon be using NFTs to help pay for its military.
After careful consideration we decided to cancel airdrop. Every day there are more and more people willing to help Ukraine to fight back the agression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens
— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022
Fedorov did not provide further details on the NFTs but did add the government had cancelled plans to reward crypto donors with an ‘airdrop’.
An airdrop is a free digital token that is used by the crypto community to encourage participation in a project.
The Ukrainian government has raised over US$50mln in cryptocurrency following an appeal made last week by Fedorov.
According to Elliptic, a blockchain and data analytics firm, US$54.7mln has been raised for the government and a Ukrainian non-growth organisation.
Most of the funds have gone to the government, with a smaller portion being sent to an organisation that funds the defence of Ukraine called Come Back Alive.
Elliptic research suggests there have been over 100,000 cryptoasset donations since the beginning of the invasion, highlighting a US$5.8mln donation from the co-founder of Polkadot, Gavin Wood.
The data also found a donation worth US$1.86mln generated from the sale of NFTs, with that money originally raised to assist WikiLeaks founder Julian Assange, as well as a CryptoPunk NFT worth US$200,000 also being sent to the Ukrainian government.
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