Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs

Christian Encila

3 years ago

2 mins read

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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.

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.

Featured image from Business Wire, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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