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

The Ukrainian government only realized the value of cryptocurrencies after experiencing continuous monetary aid in the form of crypto and nonfungible tokens (NFT), as a result of cross-border sanctions and an intensifying war.

iexclusivenews reports  that the Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov. Announced the sale of a CryptoPunks NFT for 90 Ether (ETH), That was received as a donation on April 20, 2022, in a sustained endeavor to aid the needs of its residents and the nation.

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User 0x165cd3 purchased the CryptoPunk 5364 NFT for 16.19 ETH, which was worth $31,722 at the time, and gave it to the Aid For Ukraine campaign on March 1, 2022.

On April 27, shortly after the NFT was donated to Ukraine, it received a buy offer for 100 ETH valued at $288,414 – the biggest bid it had ever received.

On June 19, Ukraine sold CryptoPunk 5364 for 90 ETH, which was worth $102,640. The buyer, 0xc08f6d, however, spent $103,523 to cover the Ethereum gas expenses.

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Bid/sell history of CryptoPunk 5364 NFT. Source: cryptopunks.app

The NFT is one of 6039 male punks, which are pixelated versions of masculine characters.

After Norway and Liechtenstein, Ukraine became the third country outside of the European Union to join the European Blockchain Partnership (EBP) as an observer. The country intends to develop its interstate blockchain network relationship with other countries as a result of this step.

Ukraine is interested in creating a test-node of the EBSI and pilot use cases of cross-border public services based on blockchain technology, according to Konstantin Yarmolenko, founder and CEO of Virtual Assets of Ukraine.

He went on to say that crypto donations during the Russia-Ukraine conflict “proven to be vital assistance,” adding:

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