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NFT

Ukrainian government officials approve new nft project

Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, on Thursday tweeted out support for Avatars for Ukraine, a non-fungible token (NFT) project directly benefiting humanitarian and defense tactics in Ukraine. 

The project involves 70 digital artworks that emerged as a result of the Russia-Ukraine war, featuring Ukrainian imagery and resistance to Russian forces. All proceeds from digital art sales fund Ukrainian war endeavors. Avatars for Ukraine is approved by the Ukrainian Ministry for Digital Transformation and will release its first NFT on May 19. 

This is not the first time that Ukrainian officials adopted blockchain technology to fund efforts for the war. In April of this year, the Ukrainian government launched a website for people to buy and sell NFTs that benefit Ukraine’s war efforts in addition to raising over $100 million in crypto donations. 

Avatars for Ukraine also joins a trend of NFT projects helping to donate funds to charity, usually involving some or all of the proceeds of NFT art directly benefiting a charitable organization.

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