Ukraine hints at token airdrop to increase its cryptocurrency donations

Ukraine has been receiving large donations in the form of cryptocurrencies, to go to Ukrainian citizens and armed forces affected by the current crisis.

The total donated is now up to over $35 million including Bitcoin, Ethereum and even popular meme crypto Dogecoin. Now, the country is expanding its cryptocurrency options further to support its military in the fight against the Russian invasion.

To boost its crypto fundraising campaign, Ukraine is now exciting the crypto community with the possibility of an airdrop. It is also moving towards non-fungible tokens (NFTs) to raise more funds.

Ukraine intensifies crypto funding efforts

Ukraine is now opening up to more cryptocurrency donations. The funds raised through these initiatives will support the defence systems. The Ukraine government has announced that it will accept more cryptocurrencies as part of the donations to support them with repelling the invasion.

The founder of Polkadot, Gavin Wood, has already pledged a $5 million donation worth of DOT tokens. Wood asked the country to provide a DOT wallet address, and the same has already been provided, which will allow the country to receive the donations in DOT. The DOT wallet address provided by the Ukrainian government has now received over 10,000 DOT tokens.

The official Twitter account for the Ukrainian government has commented on these developments saying, “The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too.”

The other major crypto announcement shared by the Ukrainian government is the hint of a token airdrop. However, the government has said that this airdrop is yet to be confirmed. The response could be geared to some users who speculated that people who donate towards the official address would be qualified for an airdrop.

The account did not clarify what the airdrop would mean or what form it would be released. However, it has already triggered excitement. The CEO and co-founder of Three Arrows Capital, Zhu Su, commented on the possibility saying, “making history here if it does end up happening, the first creation of digitally native national value.” However, some people have expressed their confusion about such a move.

NFTs for donations in Ukraine

Besides fungible tokens, Ukrainian donations are also leaning towards non-fungible tokens (NFTs). Ikonia, an NFT platform based in Kyiv, announced it will unveil a collection of 43,302,531 NFTs. This represents the population of Ukraine. The NFTs will provide funds for three charities based in Ukraine.

The NFT collection is known as “Stand with Ukraine”, and each NFT will represent one Ukrainian citizen. The CEO and co-founder of Ikonia, Patrik Arnesson, commented on this development, saying that the NFTs would support the people of Ukraine.

The buyer of these NFTs can choose which charity the funds will be donated to. The three charities include Everybody Can, Return Alive and the Ukraine Humanitarian Fund.

Arnesson commented on this development saying, “We are calling on the global NFT community and NFT projects – the likes of Bored Apes, Cryptopunks, Doodles and others – to join hands and pledge to donate proceeds to this beautiful country in its darkest hour. Together, we can stand up to aggression.”

If you want to donate but are unsure how to buy crypto, see our guide pages:

• How to buy Crypto
• How to buy Bitcoin
• How to buy Dogecoin

Your capital is at risk.