- The announcement was made via tweet by deputy prime minister Mykhailo Fedorov on March 3rd.
- So far, Ukraine has raised over $270 million dollars by auctioning war bonds.
- Ukraine recently began accepting cryptocurrency donations, subsequently receiving $5.4 million in just eight hours.
Ukraine’s Government will begin selling non-fungible tokens (NFTs) in the near future to fund the ongoing conflict with Russia. The announcement was made via tweet by deputy prime minister Mykhailo Fedorov on March 3rd.
So far, Ukraine has been primarily raising funds by auctioning war bonds, raising over $270 million dollars so far according to BBC. Each bond contains a value of 1,000 Ukrainian hryvnia with an 11% interest rate. Ukraine’s ministry of finance stated, "The proceeds from the bonds will be used to meet the needs of the Armed Forces of Ukraine."
Ukraine has also made headlines as a result of their involvement with international authorities. Recently, the government has been negotiating with the World Bank and International Monetary Fund to produce an emergency multi-billion package for Ukraine.
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Ukraine is further straying from traditional methods of raising war funds by embracing even more digital avenues. Last week, BBC reported that the Ukrainian Government had begun accepting cryptocurrency donations.
The official Twitter account of Ukraine’s government posted on Saturday: "Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT." Two cryptocurrency wallet addresses were included in the tweet, which subsequently received $5.4 million in Bitcoin, Ether, and other crypto donations within just eight hours.