- Ukraine sold a donated CryptoPunk 5364 for $100k.
- The sale was made to support Ukraine’s war effort against Russia.
- Crypto donations have aided the country in buying non-lethal supplies for its military.
After cross-border sanctions and massive war, the Ukrainian government has finally understood the importance of cryptocurrencies, thanks to it experiencing monetary aid in the form of crypto and NFT.
Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, announced the sale of a CryptoPunks NFT for 90 Ether that was received as a donation on April 20.
Breaking news on crypto donations: #CryptoPunk #5364 has been sold for 90 ETH. It’s over $100K. Few months ago this NFT was donated for @_AidForUkraine fund. Crypto community continues to support Ukraine.— Alex Bornyakov (@abornyakov) June 20, 2022
User 0x165cd3 procured the CryptoPunk 5364 NFT on March 1 for 16.19 ETH and donated it to the Aid For Ukraine campaign. Soon after, the NFT got a buying offer for 100 ETH on April 27.
Ukraine sold CryptoPunk 5364 for 90 ETH; however, the buyer, 0xc08f6d, paid $103,523 to compensate for the Ethereum gas fees.
Ukraine is the third country that isn’t a member of the European Union to join the European Blockchain Partnership (EBP) as an observer. As a result of this move, it is now planning to expand its interstate blockchain network partnership with other countries.
Konstantin Yarmolenko, founder and CEO of Virtual Assets of Ukraine, spoke regarding Ukraine’s interest in running test-node of the EBSI as well as pilot use cases of the cross-border public services based on the blockchain technology.
He also said that the crypto donations during the Russia-Ukraine war served as vital support, stating:
Next step is full blockchain integration of Ukraine and the EU based on EBP/EBSI initiatives.
Ukraine has raised beyond $135 million through crypto donations and the sale of given NFTs upon making its wallet public in February, including $6.75 million in a single sale of a Ukrainian flag NFT.All in all, Ukraine’s use of cryptocurrency during the crisis has proved the potential of crypto in geopolitical situations when transferring fiat cash is difficult, or it is completely blocked from transactions.