Ukraine plans to issue non-fungible tokens (NFTs) to help fund its embattled armed forces as they struggle to prevent a Russian occupation of the country, a senior minister said.
Ukraine’s deputy prime minister, Mykhailo Fedorov, announced the plan on Twitter on Thursday and said Kyiv would reveal details soon.
“Every day there are more and more people willing to help Ukraine to fight back the aggression,” he wrote. “We will announce NFTs to support Ukrainian Armed Forces soon.”
NFTs are collectible tokens uploaded to the blockchain so they cannot be replicated.
The move is the latest sign of the Ukrainian government embracing digital assets and comes after it raised more than $270 million in “war bonds”.
Ukraine has appealed for donations in cryptocurrency such as bitcoin, ethereum, solana and polkadot.
Cryptocurrencies totalling nearly $50 million have been donated, data company Elliptic said.
Ukraine had previously announced plans for an “airdrop”, a term used to describe a free transfer of a digital asset, to encourage people to donate.
But Fedorov said the plan had been changed, adding: “We DO NOT HAVE any plans to issue any fungible tokens.”
Russian activist music group Pussy Riot has raised $6.6 million for Ukraine through selling an NFT of the Ukrainian flag.
- George Russell