Cryptocurrency

Ukraine launches ‘NFT War Museum’ | What is an NFT museum?

NFT Museum

NFTs are literally omnipresent. Be it the crypto industry from where it originated or the big tech giants riding the wave to celebrities engaging with their fans, NFTs are literally everywhere. Non-fungible tokens or NFTs are unique cryptographic tokens that have unique identification codes. They cannot be traded or exchanged for equivalency like other crypto assets. Recently for the past year or two, digital creators have found a way to earn a substantial income and give a medium to their art through NFTs. Since the Beeple sale, one of the most expensive NFTs, the blossoming future of the art world has seen significant movement. 

Recently, the Hindustan times in India came up with a set of NFTs during the Republic Day week that had significant events from the history of our nation. Ukraine is probably trying to do something similar. The government of Ukraine has launched an NFT collection called “Meta History: Museum of War” to raise funds against Russia. It is one of the most unique ways to let the global citizens become a part of history and contribute their way towards helping the nation. The sole purpose of this NFT war museum is to preserve the memory of the real events happening during the time and spread information among the digital community as explained on its official website. 

However, for all NFT enthusiasts, it is important to understand what an NFT museum is and how they can visit this Ukrainian NFT museum and become a part of history. 

What is an NFT Museum? 

According to Dmirty Ozerkov, the head of the contemporary art department at the State Hermitage Museum, all museums will eventually build their digital version on the metaverse. On that note, NFT museums are nothing but museums exhibiting  NFT artwork similar to a physical museum displaying art from various artists.  These museums can be either digital versions of the existing museums or physical museums displaying NFTs on screens. 

After the Pandemic a financial blow was faced by museums across the globe. In the US, the operating income dropped 40 percent which forced nearly two-thirds to cut back on the education fund and public service programs. According to reports from the American Alliance of Museums, 15 percent did not survive. This old version of in-person ticketing and event sales that are funded by mega annual fundraising events has definitely proven to be unsustainable for generating continuous revenues for these museums. 

While the NFT wave is being ridden by every individual it’s the museums or the art galleries that are yet to take a forward step towards this technological advancement. Think of a scenario where you can attend some famous art exhibitions from the comfort of your home, bid in an auction, and contribute to the greater good. This is what the NFT museum of Ukraine is trying to achieve during the tough times of conflict. 

Additional Read: How to create your own NFT & sell it

Top NFT  Museums Around the World 

  • Seattle NFT Museum 

Before the Seattle NFT Museum, there was no institution dedicated exclusively to blockchain-based art. Seattle NFT Museum was recently launched and is aiming to help digital artists rise to fame and prominence with NFTs. 

According to the founders of this NFT museum Jennifer Wong and Peter Hamilton, the museum shall conduct distinct curatorial and seasonal exhibitions of NFTs. The artworks shall be displayed in high-resolution screens and shall be accessible using QR codes. 

  • Celestial Hermitage 

Does this name ring a bell for art enthusiasts? Yes, it’s the digital version of the iconic Russian Museum, the State Hermitage Museum. The State Hermitage Museum in Saint Petersburg, Russia is the largest museum in the world by gallery space. In September 2021 the museum took the first steps toward NFTs and sold digital reproductions of some of the famous masterpieces of all times for almost $450,000. 

It had also launched its digital exhibition titled, “The Ethereal Aether” where 38 NFTs were displayed within digital reconstruction. The visitors can even interact with the NFTs on display. 

  • Meta History: Museum of War 

The government of Ukraine has launched an NFT collection to raise funds for its fight against Russia. According to the details from the official website, the chronology of the events during Ukrainian history was created as NFTs. These NFTs are facts accompanied by personal reflections. 

According to the website, the first sale is planned for Wednesday (March 30, 2022). The country expects a fundraise of $2 million to $3 million from this sale. Now, the global citizens can just not donate to the real cause but can even own a piece of history for the generations to come.  This exhibition is going to feature 5000 to 7000 NFTs priced at around $450 and shall be sold on the Ethereum blockchain. 

The government also took to Twitter and explained that the warline includes every substantial detail about the ongoing turmoil and every NFT shall be sold in chronological order. The content of the NFT shall stay hidden until it is sold. 

Additional Read: How to buy NFTs

Conclusion 

NFT museums are definitely playing a big role in redefining the existence of physical art galleries. NFTs have given a way of expression and sustainable source of income to digital artists. For collections like these people just don’t own a piece that is artistically valuable but also has a purpose to serve. For instance, the NFTs sold by the Ukrainian government to raise funds will play a big role in shaping the digital history of the world. 

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