Ukraine raises $760K from NFT war museum project

Ukraine’s NFT project ‘Meta History: Museum of War’ has now raised over $700,000 to help rebuild cultural and heritage sites that were destroyed during its war with Russia.

The NFT project was released by Ukraine’s Ministry of Digital Transformation on March 25 in line with the country’s plans to provide humanitarian aid, rebuild infrastructure, and fund its military. It features documents, facts, and events that occurred during the Russian invasion.

Within 24 hours of launching on March 31, 1,282 artworks from the NFT collection were sold on the NFT marketplace OpenSea. At press time, the collection has fetched 219.15 Ether, which is roughly equivalent to $761,651 per the current value of Ethereum($3,484).

We’ve already sold 1153 artworks and the sales go on. Our goal is 1million!
Have raised more than 500k USD by now!
Only NFT owners will be able to buy the masterpieces of the Prospect 100 winners and the very first four artworks soon. Support Ukraine! pic.twitter.com/HfK747cpxN

— META HISTORY: Museum of War (@Meta_History_UA) March 31, 2022

At the time of announcing the NFT museum, Mykhailo Fedorov, the Vice Prime Minister and Minister of Digital Transformation of Ukraine tweeted:

“While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech. @Meta_History_UA NFT-Museum is launched. The place to keep the memory of war. And the place to celebrate the Ukrainian identity and freedom.”

The latest NFT initiative makes it the first one was taken by any national government. Ukraine also plans to auction off four unique NFT artworks for which only those who bought museum NFTs are eligible to purchase.

Ukraine has been receiving donations since the beginning of Russia’s invasion of Ukraine in late February. So far, the Ukrainian government has received $70.2 million in Bitcoin, Ether, Polkadot, and several other crypto assets for war relief efforts and military funding.