As Russia’s invasion of Ukraine spills into its second week, the country’s prime minister Mykhailo Fedorov has announced the launch of NFTs to fund Ukraine’s armed forces. After cancelling its previous planned cryptocurrency airdrops, the government announced that it will no longer make such an announcement.

We decided after careful thought to stop airdrop. Each day, more people are willing to assist Ukraine against aggression. We will instead announce NFTs that support the Ukrainian Armed Forces very soon. There are no plans for us to issue any tokens that can be used as fungible.

— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022

The Ukraine already has raised $56.2million in cryptocurrency donations. According to Elliptic, CryptoPunks NFT #5364, worth approximately $200,000, was donated to the Ukrainian government’s account. In addition to this, Ukraine’s NGO ‘Come Back Alive,’ which works in support of the country’s military forces, recently received a significant donation of 2,258 ETH (approximately $6.5 million). This funding was organized through the UkraineDAO initiative.

The Prime Minister asked cryptocurrency exchanges for a ban on Russian crypto wallets. But most platforms rejected the request, fearing that they would not be fair to Russian citizens trying their best to survive the Russian economic and currency collapse.

The Flipside

• Fedorov claimed that the NFTs will be launched “soon.” Details about the NFTs and their exact release date are currently unknown.

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