Ukraine boosts war chest with NFT donations

Ukraine goes down in history as the first country to fund war efforts with cryptocurrencies. Since Wednesday, interested parties can also donate collectibles from their NFT collections to Ukraine .

There is a choice of either handing over the NFTs directly or buying an NFT from Ukraine. The latter is handled via OpenSea. Interested parties can currently bid on CryptoPunk number 5364, among other things. According to a statement on the website, a total of 60 million US dollars has been raised in donations so far.

In this way, donors not only finance humanitarian aid, but also weapon systems and ammunition. The Ukrainian Ministry of Digital Transformation is implementing the donation platform in partnership with the crypto exchanges FTX and Kuna and the staking provider Everstake.

All means are right

While the Ukrainian government is accepting donations in cryptocurrencies, it seems that the risk of capital flight from its own citizens is too high. In March, the central bank banned exchanges from selling cryptocurrencies in bulk to Ukrainian citizens and capped trading volume per capita to the equivalent of $4,000 per month.

The hype fueled by official bodies about an airdrop for particularly hard-working donors, which then did not exist, caused frowns. Ultimately, every means seems right to finance the war and to keep the situation in your own country as stable as possible.

Whether adding crypto donations to the war chest is a plus or a minus remains debatable. After all, the telethon is proof that projects that have not been as well received by the western world as a military victory by Ukraine can also be financed quickly. This should encourage opponents of cryptocurrencies to believe that stricter regulation is appropriate.

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