Ukraine received US$33 million in cryptocurrency donations, announces NFTs to support Ukrainian Army

The official Twitter account of the Ukrainian government announced earlier that they would start accepting donations in cryptocurrency. A special fund was created to accept the bitcoin, ethereum, sol, and dot cryptocurrencies.

During the first 4 days, funds grew to US$33 million, according to reports from Ukrainian officials. In an effort to promote this form of fundraising, the government in Kyiv announced an ‘airdrop’ for those who donated. ‘Airdrop’ is a term describing sharing a certain amount of cryptocurrency with everyone on the network. This is a popular method of rewarding users in the crypto industry.

In a further statement on 3 March, the Ukrainian Minister for Digital Transformation announced that they will not perform an airdrop but instead will create a series of non-fungible tokens (NFTs) to support the Ukrainian Army.