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    Ukraine’s Government Launches ‘Museum of War’ NFT Collection

    The Ukrainian government has launched a non-fungible token (NFT) collection called the “Museum of War.” According to the government-run museum website, all earnings would go directly to the Ministry of Digital Transformation of Ukraine’s official crypto wallets to support the troops and citizens.

    What is an NFT?

    Non-fungible tokens (NFTs) are distinct from mainstream cryptocurrencies like Bitcoin, as the name implies. When something is fungible, it means that it can be easily replaced by something similar. If you lend a $20 note to a buddy, you won’t notice if you get a different $20 note back.

    Non-fungible assets are the polar opposite of fungible assets. Imagine a No. 1 Trainer Pokémon card, one of the most sought-after in the game, with only seven knowns to exist. From afar, it may appear to be a regular card, yet it contains distinguishing characteristics that set it apart from the rest.

    You’d be reasonably annoyed if you lent THAT to a buddy and received a different one back. Non-fungible tokens bring this rarity and scarcity to the blockchain. They enable the creation of digitized versions of valuables. One of the first demonstrations of NFTs was CryptoKitties, which allowed enthusiasts to breed digital cats. Someone allegedly paid 600 ETH for a very rare kitty, which would be worth a staggering $1 million today.

    Non-fungible tokens, according to proponents, have the potential to transform the worlds of art and gaming, bringing concrete benefits to both. Digital artwork has exploded in popularity in recent months, with some masterpieces fetching hundreds of thousands of dollars at famous auction houses. You’d be reasonably annoyed if you lent THAT to a buddy and received a different one back.

    One of the first demonstrations of NFTs was CryptoKitties, which allowed enthusiasts to breed digital cats. Someone allegedly paid 600 ETH for a very rare kitty, which would be worth a staggering $1 million today. Non-fungible tokens, according to proponents, have the potential to transform the worlds of art and gaming, bringing concrete benefits to both. Digital artwork has exploded in popularity in recent months, with some masterpieces fetching hundreds of thousands of dollars at famous auction houses.

    Ukraine Government’s collection of NFTs

    Ukraine’s government has created a non-fungible token (NFT) collection dubbed “Meta History: Museum of War” in order to gather funding for its anti-Russian campaign.

    Mykhailo Fedorov, Ukraine’s vice prime minister and minister of digital transformation, announced the introduction of the NFT collection on Twitter on Friday.

    The Museum of War NFT project’s purpose, according to its website, is “to preserve the memory of the true events of that period, to transmit genuine information throughout the global digital community, and to collect donations for the support of Ukraine.”

    The website for the NFT collection goes on to say that the collection contains “a timeline of events in modern Ukrainian history, set in stone… The facts are complemented by personal reflections in the NFTs. “

    Fedorov to launch NFTs in Ukraine

    Fair.xyz created a collection website for the Ukrainian government and put together the first sale, which will take place next Wednesday. According to Forbes, the sale is projected to raise between $2 million and $3 million, with 5,000 to 7,000 NFTs priced at roughly $450 apiece being sold over the Ethereum blockchain. “Our warline encompasses every significant event during the war,” the NFT collection’s official Twitter account revealed. The NFTs will be offered in order of release.

    After the government delayed a scheduled token airdrop, Fedorov initially stated the Ukrainian government’s plan to launch NFTs to support Ukrainian military forces on March 3. The Ukrainian government opened an official website on March 14 to accept cryptocurrency donations. Following that, President Volodymyr Zelenskyy approved a bill on virtual assets to control Ukraine’s crypto industry.

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