Ukraine Sells CryptoPunks NFT Donation for 90 ETH, Worth Over $100K

by Eva Fox June 22, 2022

Ukraine Sells CryptoPunks NFT Donation for 90 ETH, Worth Over $100K

Cover art/Illustration via Cryptoslate

Ukraine is selling a CryptoPunks NFT donation for 90 ETH, worth over $100K. Under the pressure of the war, the Ukrainian government is forced to master the digital world even more quickly.

The Ukrainian government, under the burden of war, is forced to quickly integrate the digital world into everyday life. Cryptocurrencies and non-fungible tokens (NFTs) have shown their importance as people from all over the world have been willing to donate in this way.

The CryptoPunk 5364 NFT was donated to the Aid For Ukraine campaign by user 0x165cd3, who procured the artwork on March 1, 2022, for 16.19 ETH, which was worth $31,722 at the time. Soon after the NFT was donated to Ukraine, it got a buy offer for 100 ETH worth $288,414 on April 27 — the highest bid it ever received. On June 20, it became known that Ukraine sold CryptoPunk 5364 for 90 ETH worth $102,640. However, the buyer, 0xc08f6d, spent $103,523 to compensate for the Ethereum gas fees, according to Cointelegraph.

The Deputy Minister of Digital Transformation of Ukraine on IT industry development Alex Bornyakov announced the sale of the CryptoPunks NFT for 90 Ether (ETH). The NFT belongs to a collection of 6039 Male punks, a pixelated variation of male characters.

Ukraine has become the third non-European Union country after Norway and Liechtenstein to join the European Blockchain Partnership (EBP) as an observer. After this step, the country plans to expand the partnership of the interstate blockchain network with other countries.

Konstantin Yarmolenko, founder and CEO of Virtual Assets of Ukraine, told Cointelegraph about Ukraine’s interest in running a test-node of the EBSI and pilot use cases of the cross-border public services based on the blockchain technology.

He further highlighted that the crypto donations during the Russia-Ukraine war “proved as important support,” stating:

“Next step is full blockchain integration of Ukraine and EU based on EBP/EBSI initiatives.”

© 2022, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

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