The museum will showcase non-fungible tokens (NFT) in the form of digital art paired with written reflections. The first drop could come as soon as Tuesday, a project representative told CoinDesk on Friday.
A key feature of storing data on the blockchain is immutability, MetaHistory’s Danil Melnyk told CoinDesk in an interview. Minting the artwork in the form of NFTs will help preserve it, he said, while also raising money for the Ukrainian cause.
Melnyk said artists looking to be featured in the museum will submit a portfolio with their work, which will then be reviewed by art directors to determine whether the creator’s work is suitable. The artist will then be given a historical event to create their work from and the museum will mint the final product as an NFT on the Ethereum blockchain.
Each NFT will sell for 0.15 ETH, and all profits from the initial sale will go to the Ministry of Digital Transformation’s wallet. The funds will be distributed to humanitarian aid efforts in Ukraine, Melnyk said.
Earlier this month, CoinDesk reported that Ukraine had already received about $100 million in crypto donations.
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