Ukraine has extended its growing cryptocurrency push to fund its armed forces with the auction of non-fungible tokens (NFTs) in a project chronicling the Russian invasion through art.
The digital images included in the Meta History: Museum of War collection detail every day’s aspects of the conflict which has entered its second month.
Launched by Ukraine’s Ministry of Digital Transformation on Friday, the NFT series aims to both raise funds for the military and civilians and “preserve the memory of the real events of that time”, according to the site. Collection web.
NFTs are a type of crypto asset using the technology behind bitcoin to record who owns a digital file from an image to a video or a piece of text.
The submissions show diplomacy, military operations and the human suffering of war. Images such as fighter jets, news reports, screenshots and explosions aim to express the trauma suffered by the Ukrainian people as well as their resilience.
“NFTs are facts with personal thoughts,” the website said. NFTs will be created in chronological order, according to events “so that the true story will be saved and cherished.”
“The artists will depict how the war is perceived by the peaceful population of sovereign Ukraine, from its full outbreak to the moment of the Ukrainian victory celebration,” he said.
Ukrainian and international artists who wish to submit entries can submit a portfolio with their work for review by art directors, CoinDesk reported.
If chosen, the artist will be assigned a historical event from which to create their work, and the museum will mint the final product as an NFT on the Ethereum blockchain.
NFTs are usually purchased with cryptocurrencies like ether, and Ukrainian NFTs will initially cost 0.15 ether, or just over $475, Reuters reported.
Ukraine has used crypto donations to pay for supplies such as body armor, helmets, lunches and medicine, according to Ukraine’s Deputy Minister for Digital Transformation Alex Bornyakov.
The country set up its own website to accept crypto donations that had reached $60 million, Bornyakov said earlier in March.
Bornyakov told CoinDesk that Ukrainian President Volodymyr Zelensky “shares our view” on the country’s cryptocurrency funding to help deter Russian aggression. “We have the president’s full support,” the deputy minister said.
The Ukrainian government has created its own website to accept crypto donations which are an important part of the war effort.