Ukraine plans to become the first developed country to issue its own collection of non-fungible tokens, as it looks to capitalise on a flood of crypto donations to back its war against Russia.
Mykhailo Fedorov, Ukraine’s vice-prime minister, announced the plan in a tweet on Thursday and said Kyiv would reveal details of its NFTs soon.
FT reported that the Ukrainian government had plans already to reward crypto donors with an airdrop, meaning a free transfer of a digital asset, which would encourage people to donate. But that had been canceled as of Thursday, according to Fedorov – instead he wanted to pivot to NFTs.
The Ukraine Twitter account has been appealing for donations in crypto, and has publicly posted addresses for people to make transfers to, using bitcoin, Ethereum, solana and polkadot.
There has been a total of $50 million donated to the government, the report noted.