Ukraine Opens The ‘NFT Museum’ To Raise Funds And Remember

The MetaHistory NFT Museum, a blockchain-based history of the Russian invasion of Ukraine, will be launched by Ukraine’s Ministry of Digital Transformation.

Non-fungible tokens (NFT) will be displayed as digital art with written reflections at the museum. A project spokesperson said on Friday that the first drop might happen as soon as Tuesday.

Immutability is a vital element of keeping data on the blockchain, according to MetaHistory’s Danil Melnyk in an interview with CoinDesk. He claims that minting the artwork as NFTs will help preserve it while also earning funds for the Ukrainian cause.

Melnyk explained that artists interested in being featured in the museum will submit a portfolio of their work, which will be assessed by art directors to see whether the work is appropriate. After that, the artist will be given a historical event to work with, and the museum will mint the finished result as an NFT on the Ethereum blockchain.

Each NFT will cost 0.15 ETH to purchase, with all proceeds going to the Ministry of Digital Transformation’s wallet. According to Melnyk, the monies would be used to support humanitarian relief operations in Ukraine.U

Ukraine had already received nearly $100 million in cryptocurrency donations.

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