Ukraine To Tell Stories of War Using NFT, Crypto Adoption at Its Peak

The tension between Russia and Ukraine remains the most talked-about topic in and out of the crypto space. It’s unlikely that these events will be forgotten in history anytime soon. In an interview with The Guardian, Ukraine’s Digital Asset Minister Alex Bornyakov stated that they want to tell the world about the Russian-Ukrainian war in NFT format.

“like a museum of the Russian-Ukrainian war. We want to tell the world in NFT format.”

The NFT format mentioned is an NFT collection where each token would carry a piece of art representing a story from a trusted news source. Bornyakov added that they wanted it to be “cool, good-looking, and it takes time.”

As the Ukrainian government’s appeal for cryptocurrency donations passes $60M, the NFT collection is being prepared.

The Ukrainian minister chose to use the NFT blockchain due to its immutable characteristics and its superb security. Hence, the news and stories that will be published using the NFT blockchain can be assured to have 100% legitimacy.

Meanwhile, the country of Ukraine is not new in engaging with crypto-assets and its blockchain. In the past weeks, the country has opened various crypto addresses to accept donations in aid to the crisis they are experiencing. These crypto-assets that have been donated to the country have been reportedly used to buy supplies and food to aid their campaign in defending their country against invaders.

On the other hand, the war between Ukraine and Russia impacted the world’s economy, including the crypto market. In fact, consumers in other countries are now feeling the pain of price spikes in some of their staples. However, the crypto market remains competitive and opened its platform to all unbanked people in the world.

At the time of writing, the whole crypto market cap amounts to over $1.8 trillion with a -0.3% in the past 24 hours. Furthermore, Bitcoin, the king of crypto assets, trades below $38k with a huge market cap of almost $750 billion.