UKRAINE The Ukrainian government has a new way to finance it | MINORITY REPORT

UKRAINE

The Ukrainian government has a new way to finance its war with Russia: NFTs.

The country’s Ministry of Digital Transformation, which has embraced crypto in recent weeks as a means of soliciting donations from sympathetic foreigners, is releasing 54 nonfungible tokens (NFTs), a series of digital blockchain-based images. The hope is that Ukraine can raise awareness and money for its cause as it continues to stave off Russia’s military.

It’s a contemporary spin on the war bond, a debt security sold to finance a war and stave off inflation. But the NFT project is also a commitment to documenting Russia’s invasion and raising international attention, in stark contrast to the Russian government’s efforts to limit the internet, threaten journalists, and censure any reference to “war” with Ukraine.