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2022-03-25 16:08:15

Ukraine Launches ‘NFT Museum’ To Raise Funds And Remember

The Ministry of Digital Transformation of Ukraine is set to launch the MetaHistory NFT Museum, a blockchain-based chronicle of the Russian invasion of Ukraine.

The museum will showcase non-fungible tokens (NFTs) in the form of digital art paired with written reflections. The first drop could come as soon as Tuesday, March 29, a project representative told CoinDesk on Friday.

A key feature of storing data on the blockchain is immutability, MetaHistory’s Danil Melnyk toldC CoinDesk in an interview. Minting the artwork in the form of NFTs will help preserve it, he said, while also raising money for the Ukrainian cause.

Melnyk said artists looking to be featured in the museum will submit a portfolio with their work, which will then be reviewed by art directors as to whether or not the creator’s work is suitable. The artist will then be given a historical event to create their work from and the museum will mint the final product as an NFT on the Ethereum blockchain.

Each NFT will sell for 0.15 ETH and all profits from the initial sale will go to the Ministry of Digital Transformation’s wallet. The funds will be distributed to humanitarian aid efforts in Ukraine, Melnyk said.

Earlier this month, CoinDesk reported that Ukraine had already received about $100 million in crypto donations.

 

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