Ukraine to Issue Official NFTs to Fundraise the Defensive Campaign Against the Russian Invasion

A couple of days ago, the Vice Prime Minister of Ukraine, Mykhailo Fedorov, announced on Twitter that the Ukrainian government is going to cancel the crypto fundraising and produce a collection of NFTs instead.

It has been over a week since the Russian troops invaded the peaceful cities of Ukraine destroying everything on their way. The criminal actions of the Kremlin were taken by the world community by storm. Thus, the Ukrainian government created official crypto wallets, where everybody willing could drop crypto or NFTs. By the time of Mykhailo Fedorov's announcement, over $50 million in ETH, USDT, Bitcoin, and other currencies, had been airdropped to help the Ukrainian Army, Save Children, and deliver all kinds of aid to the civilians.

According to Elliptic, a blockchain analysis company, there have been more than 100,000 donations since the invasion started, including $5.8 million from Gavin Wood, the British co-founder of blockchain platform Polkadot, $10 million by the crypto stock Binance, and thousands of others.

The Ukrainian government primarily didn't plan to issue NFTs. That was due to expert warnings of triggering an avalanche of NFT fraudsters seeking opportunities to cash in on the war in the country.

As we have seen with the lightning speed in which cybercriminals can capitalize on a global crisis, this will be yet another area they will attempt to exploit,” ESET cybersecurity expert Jake Moore, adding, “In principle, this is another potentially lucrative avenue for people to help out in the crisis from around the world but it comes with a heavy price tag if people are unaware of the many pitfalls in this relatively new technology.” 

There's no information on what the Ukrainian NFTs will look like, the launch date, or their cost. But according to Vice Prime Minister Fedorov, they will be announced soon.