The museum collected the sum on the first day of the sale of virtual exhibits. In total, 1,282 digital works of art were purchased. The raised sum will be transferred to a cryptocurrency fund set up by KUNA Ukrainian cryptocurrency exchange to support the Ukrainian army and digital and cyber resistance.
“We were the first to combine blockchain technology and contemporary art to document the historical truth about the Russian Federation’s war against Ukraine,” Minister of Digital Transformation of Ukraine Mykhailo Fedorov posted on Telegram.
The art depicted in the NFTs tell the story of Russia’s invasion of the country, illustrating the wreckage of buildings, fallen soldiers, and burning flags – all displayed as NFTs to solemnize the events of the previous two months, since the invasion began in February.
“We’ve already sold 1153 artworks and the sales go on. Our goal is 1 million,” tweeted the Museum’s official account. Moreover, the Museum also revealed plans to auction four artworks in the future that will be open to only holders of these NFTs.
Each NFT exhibits facts and a personal reflection while following a clear and simple formula: a token includes an actual news piece published by an official source and an illustration drawn by a Ukrainian artist. To conserve the history of the events, the NFTs will be minted chronologically. Additionally, Ukrainian artists will use their art skills to showcase how the war is perceived by the population of Ukraine – from the beginning right up until the final moments of the conflict.
In addition to raising awareness and maintaining historical records, the Metahistory Museum will also work in sync with other ongoing initiatives to collect donations for supporting the Ukrainian military and citizens. All proceeds from the auction of the collection’s NFTs will be transferred directly to crypto wallets belonging to the Ukrainian Ministry of Digital Transformation.
The largest Ukrainian IT companies, together with the Ministry of Digital Transformation and the Kyiv School of Economics, created the Truth Fund which aims to fight Russian propaganda and tell the world the truth about the war in Ukraine.
The geopolitical crisis between Russia and Ukraine has been described as the world’s first crypto war – while Ukraine has raised millions in donations via the crypto community, Russia continues its attempts to circumvent Western sanctions with the asset class.
NFTs, however, have found a new form of utility in the form of “war bonds,” which we haven’t seen before, given Russia’s sudden and impulsive invasion of the country. The money raised through NFTs can be used as war bonds to help aid the country’s defense, while simultaneously helping Ukraine rebuild its cultural infrastructure.
