Ukrainian News Outlets Want to Raise $1 Million Selling NFTs

Three Ukrainian media outlets—Ukrainska Pravda, Novoye Vremya, and Hromadske—are partnering with NFT platform Vault to raise $1 million via NFTs, per Press Gazette. 

The three outlets are reportedly hoping to sell a limited number of "NFT keys," which offer holders access to exclusive content. 

Each key—according to Vault and per Press Gazette—will "provide access to content from the publication's brave team of journalists, photographers, and editorial team, including photos and videos, links to stories and recommended readings, a special weekly email blast for supporters, and more." 

Vault added that proceeds from the NFT sales would go directly to the media organizations themselves. 

These Ukrainian outlets have experienced a surge in popularity following Russia's invasion of Ukraine. 

According to Sevgil Mysayeva, Editor in Chief at Ukrainska Pravda, the outlet's website was reportedly the "second most popular website in Ukraine after Google" following Russia's invasion. 

"About eight million people around the world read us every day. We feel our responsibility to inform the world about the current situation in Ukraine truthfully and in time," said Mysayeva.

Ukraine and crypto fundraising

This is not the first time Ukraine has pivoted to the crypto industry for fundraising goals. 

Since Russia's invasion of the sovereign European nation, the Ukrainian government (as well as an NGO supporting the Ukrainian military) have raised $59 million through more than 120,000 cryptocurrency donations, per Elliptic. 

Ukraine's cryptocurrency crowdfunding began on February 26, 2022, two days after Russia's invasion began. The official Twitter account for the Ukrainian government published a tweet sharing a Bitcoin and Ethereum wallet address. 

Today, blockchain records show those addresses have received $10 million in Bitcoin and $18 million in Ethereum. 

The government also later announced that it was accepting donations in Polkadot. Shortly after, Vice Prime Minister Mykhailo Fedorov said the government would also begin accepting Dogecoin.