In March 2022, a user gifted Cryptopunk #5364 to a Ukrainian crypto fund. The company sold the NFT to an unidentified bidder for 90 ETH yesterday. NFTs are digital or physical assets that are represented by blockchain-based tokens.
The Ukrainian government has sold CryptoPunk #5364, a non-fungible token (NFT) it received as a fund in early March to fight its war against Russia. Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov made the announcement on Twitter of the sale for 90 Ether (ETH), worth around $100,000 to an anonymous bidder.
Cryptopunk #5364 gets the highest buy offer
During Ukraine’s ‘Aid For Ukraine’ fundraiser, a user 0x165cd3 donated the CryptoPunk 5364 NFT for 16.19 ETH which was valued $31,722. The Ukraine govt held the campaign on March 1, 2022.
The value of the NFT was around $260,000 when it went to the country’s Ethereum wallet for the first time. On April 27, there was a buy offer for 100 ETH valued at $288,414 on the NFT. This was the biggest price offer on the NFT so far.
CryptoPunk collection boosted
Ukraine made its wallet public in February. Since then, it has raised more than $135 million in crypto donations. This coincided with the inception of the war. These donations included $6.75 million in a standalone sale. The sale was that of a Ukrainian flag NFT.
The revelation that Yuga Labs has hired a new brand lead for the CryptoPunk collection has boosted the collection’s worth in recent days. The NFT is one of a group of 6039 male punks, a pixilated version of masculine figures.
Ukraine-3rd non-EU country to join EBP
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 because of this step.
The way Ukraine used cryptocurrency in its fight against Russia it came as a case study. The study revealed major advantages of cryptocurrencies in the geopolitical area when dealing with regular currency has its own disadvantages.