Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs
March 08 2022 - 9:05AM
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Three news organizations in Ukraine have partnered with an NFT
platform to sell access to exclusive content in order to continue
reporting throughout their country’s ongoing war. Multiple reports
indicate that the news organizations — Ukrainska Pravda, Hromadske,
and Novoye Vremya — are collaborating with NFT platform Vault to
secure $1 million via digital items. Approximately 10,000 NFT keys
will be sold to assist the news groups in their
current attempts to provide coverage of the Russian attack to
Eastern European and English-language audiences. Ukraine News
Groups Becoming Popular The prominence of Ukrainian-language
publishers has increased as international attention has shifted to
Russia’s invasion of the sovereign European nation. Sevgil
Mysayeva, editor-in-chief of Ukrainska Pravda, said that his
publication was the “second most popular” website in Ukraine
during the initial days of the invasion, next to search
giant Google. In 2000, political journalists Olena Prytula and
Georgy Gongadze co-founded Ukrainska Pravda, the latter of whom was
killed shortly afterwards. Related Article | Risk Aversion
Pulls Crypto Market Down, Bitcoin Still Below $40K In layman’s
terms, NFTs are “one-of-a-kind” digital assets that may be
purchased and sold like any other type of property, but lack a
physical form of their own. Consider digital tokens to be
certificates of ownership for either virtual or tangible assets.
NFT Trading Volume At $25 Billion A quick overview: The value of
NFTs exchanged last year was $25 billion, according to DappRadar,
which monitors more than 30 blockchains. According to Vault: “Each
key will grant access to content created by the publication’s
“brave team of journalists, photographers, and editorial team,
including photographs and videos, links to articles and recommended
readings, and a special weekly email blast for supporters.” This is
not the first time Ukraine has shifted its fundraising focus to the
crypto business. Since Russia’s invasion of Ukraine, the Ukrainian
government has raised around $60 million through more than
120,000 cryptocurrency donations, according to London-based
blockchain analytics firm Elliptic. Ukraine’s cryptocurrency
crowdfunding began on February 26, 2022, just two days after
Russia kicked off its military assault. Helping Ukraine’s
Military Fight The Russians The Ukrainian government is likewise
embracing digital assets as a means of funding its military.
Ukraine raised $270 million last week through an auction of war
bonds. Each one-year bond carried a face value of 1,000 Ukrainian
hryvnia and had an interest rate of 11%. The country’s finance
ministry said: “The revenues from the sale of the bonds will be
used to support the needs of Ukraine’s Armed Forces.” Top News
Outlet Gets $1 Million Meanwhile, a Go Fund Me campaign for
Ukraine’s top English-language news organization, The Kyiv
Independent, had raised about $1 million as of Monday. Related
Article | Goodbye, Russia – A Number Of Goldman Sachs Employees Are
Leaving Russia To UAE Featured image from Business Wire, chart from
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