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NFT sales to help Ukraine rebuild cultural facilities

 


The government of Ukraine intends to use the funds received from a specific NFT sale to rebuild cultural institutions destroyed in the war.


The Ukrainian Ministry of Culture announced on Friday that proceeds from the government-backed NFT fundraiser Meta History Museum of War will go to the "reconstruction of cultural facilities." So far, sales of artistic Non-Fungible Tokens (NFTs) have already raised 803.28 Ether ( ETH ) - at the current price almost 1.3 million US dollars - for this purpose.


"During the six months of Russia's war against Ukraine, hundreds of museums, theaters and other cultural institutions were damaged," said Oleksandr Tkachenko of Ukraine's Ministry of Culture. He adds: “Almost EUR 6 billion worth of damage was done to Ukrainian culture, and given the further plans of the Russian Federation, this number will only increase.”


Oleksandr Borniakov, Deputy Minister for Digital Transformation and Information Technology, adds in this context:


"NFTs won't stop Russian missiles, but they offer Ukraine an opportunity to become a country of innovation and rebuild our economy."


With the help of the Ukrainian government, the Meta History Project was founded in March - i.e. a month after the first Russian rocket hit the country - which is intended to depict the course of the war in the form of digital art and at the same time collect donations. The 1.3 million US dollars received so far will initially go to the government-initiated aid project Aid For Ukraine, but the funds are to be used explicitly for cultural reconstruction and not for military purposes.


Since the start of the war in February, Ukraine has already received more than $100 million in donations in the form of cryptocurrencies, sent directly to the wallet of the Ministry of Digital Transformation.

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