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Ukraine Launches ‘NFT Museum’ to Raise Funds and Remember
The first drop from the MetaHistory NFT Museum could come as soon as Tuesday.
By Cam Thompson
Updated May 11, 2023, 6:25 p.m. Published Mar 25, 2022, 3:37 p.m.
Make us preferred on GoogleThe Ministry of Digital Transformation of Ukraine is set to launch the MetaHistory NFT Museum, a blockchain-based chronicle of the Russian invasion of Ukraine.
The museum will showcase non-fungible tokens (NFT) in the form of digital art paired with written reflections. The first drop could come as soon as Tuesday, a project representative told CoinDesk on Friday.
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While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech. @Meta_History_UA NFT-Museum is launched. The place to keep the memory of war. And the place to celebrate the Ukrainian identity and freedom. Check here: https://t.co/IrNV0w54tg
— Mykhailo Fedorov (@FedorovMykhailo) March 25, 2022
A key feature of storing data on the blockchain is immutability, MetaHistory’s Danil Melnyk told CoinDesk in an interview. Minting the artwork in the form of NFTs will help preserve it, he said, while also raising money for the Ukrainian cause.
Melnyk said artists looking to be featured in the museum will submit a portfolio with their work, which will then be reviewed by art directors to determine whether the creator’s work is suitable. The artist will then be given a historical event to create their work from and the museum will mint the final product as an NFT on the Ethereum blockchain.
Each NFT will sell for 0.15 ETH, and all profits from the initial sale will go to the Ministry of Digital Transformation’s wallet. The funds will be distributed to humanitarian aid efforts in Ukraine, Melnyk said.
Earlier this month, CoinDesk reported that Ukraine had already received about $100 million in crypto donations.
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Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.
In this issue:
- Robinhood starts testing its own blockchain as its push into crypto and tokenization deepens.
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