‘Meta History: Museum of War’: Ukraine launches NFT in crypto crowdfunding campaign, World News
Ukraine has launched a collection of non-fungible tokens (NFTs) called “Meta History: Museum of War” as part of an extension of a cryptocurrency fundraising campaign.
The collection is a series of digital images, including silhouettes of warplanes, screenshots from news reports and a cartoon-style image of an explosion, each marking a different day in the conflict.
Ukraine’s Ministry of Digital Transformation said it was intended “to spread truthful information within the digital community around the world and to collect donations to support Ukraine.”
NFT vending platforms use the blockchain technology behind cryptocurrencies and turn everything from artwork to memes into virtual collectibles that cannot be duplicated.
Just over a month into the invasion, Russia’s attack has turned into a crushing war of attrition. Russian forces in Ukraine appear to have shifted their focus from a ground offensive targeting kyiv to prioritize what Moscow calls the liberation of the disputed Donbass region, suggesting a new phase in the war.
See also | Why Russian missiles in Ukraine do not reach their target
Russian President Vladimir Putin’s forces are under heavy pressure in many parts of the country, and the United States and other countries are accelerating their arms and supply transfers to Ukraine.
The global NFT boom, with American artist Beeple selling artwork for a record $69 million last year, has encouraged people to turn to digital art.
Opinions on the merits of NFT art vary wildly. The most famous collections, Bored Ape Yacht Club and CryptoPunks, feature cartoon images reproduced 10,000 times with algorithmically generated variations.
They are often pilloried for blocky graphics or tacky animation style.
Additionally, those who buy NFTs do not get a physical product, but rather receive verified input on a blockchain, essentially a piece of computer code.
Value comes from the item’s supposed rarity or fame, often driven by celebrity endorsements.
(With agency contributions)