Until now, the so-called NFT (Non-Fungible-Token) was considered by many to be another crazy variety in the blockchain universe, which was difficult to understand. While cryptocurrencies such as Bitcoin are now common digital means of payment, NFTs are different. Non-fungible can be translated as “not interchangeable” and already refers to the fundamental difference with cryptocurrencies: if you sell a Bitcoin and buy it again later, you still have one: Bitcoin. This is different with an NFT: it must not be replaceable, i.e. unique, and therefore also verifiable. Whether the NFT is a painting, a tweet or a piece of music: anything that can be digitized in any way can become the NFT and can be purchased on online platforms such as Binance or FTX and many others . Similar to Bitocin and Co., NFTs are stored in a digital wallet, a trusted wallet.
Since their existence, the criticism of digital one-offs has not ceased, after all, the mere fact that image pixels have now become objects on the stock market takes at least some time to adapt. And the danger of a bubble forming can’t be completely ruled out either: NFT traded volume has halved since early March, according to data from analyst firm NonFungible.
Who would have thought that these contemporary objects of speculation could still be put to good use? Since March 30, NFTs have been sold on the Meta History Museum of War website, initiated by the Ukrainian Ministry of Digital Transformation. The profits will support the Ukrainian army and the population. The mission behind the sale of the digital artworks: “To preserve the memory of the real events of this time, to spread truthful information in the digital community in the world and to raise funds to support Ukraine”, indicates the website of the “museum”. The acquired money goes directly to the official crypto accounts of the Ministry of Digital Transformation.
Already raised more than 500,000 euros
The NFTs are chronologically arranged in a “war line”, with each work depicting a significant moment in the war since the new Russian invasion, referencing a tweet on the Twitter platform.
Each NFT costs 0.15 of the Ethereum digital currency. As of April 4, the price is currently just under 3,166 euros for an ether, with 0.15 ether corresponding to just under 475 euros. In the first 24 hours, the museum had already sold 1,051 NFT works, raising the equivalent of nearly 500,000 euros, Ukrainian Deputy Prime Minister and Digital Minister Mykhailo Fedorov said on Twitter.
According to Deputy Minister of Digital Transformation Alex Bornyakov, crypto assets have also proven to be extremely useful in recent weeks: “Every helmet and vest purchased with crypto donations is currently saving the lives of Ukrainian soldiers,” Bornyakov writes on his profile. Twitter. Actual financial support is one thing, but preserving events in historical memory is no less important. Accordingly, the Meta History Museum of War states, “We will never allow a single day of this era to pass from the book of world history.”
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