The Ukrainian government has announced that it will start selling Non Fungible Token or Non Fungible Token (NFT) to finance the military resistance against the Russian offensive. Mykhailo Fedorov, the Ukrainian Prime Minister, has posted a tweet on his personal account announcing that NFT files will be available for sale “soon” to financially support the country’s army.
The Ukrainian government will start selling NFTs as one more way to get financing to pay for the war effort
The minister’s announcement comes shortly after Ukraine managed to raise more than 200 million euros through “war bonds”. and cryptocurrency collections. In addition to these voluntary aid, the government is negotiating with the International Monetary Fund and the World Bank to obtain loans with favorable conditions.
NFTs are essentially “one-time” digital files that have a certificate impossible to alter or duplicate that contains information about the owner of said file. These files, along with their certificate of ownership, can be bought and sold, and have been paid in the millions for them.
With this decision the Ukrainian government intends seek new ways of financing to face a war which is advertised long and expensive. So far, international solidarity is helping the coffers of the country. In less than ten days of invasion, it has obtained nearly 300 million euros in donations.
One of the financing channels that Ukraine is resorting to is war bonds. Each of these bonds is worth 1,000 Ukrainian hryvnias at 11% interest.
In addition, thousands of anonymous donors are bringing aid to Ukraine using Bitcoins, the most popular cryptocurrency. More than 12 million euros are those that have already been donated to help the country face the invasion that it is being subjected to by Russia. So far there have been more than 4,000 donationswith an average of 85 euros each, although it should be noted that one of them had an amount of 2.7 million euros.