The government of Ukraine’s Aid for Ukraine crypto fundraising campaign has sold a donated CryptoPunks NFT for over $100,000 to support its war efforts against Russia.
Ukraine Sells Donated CryptoPunks NFT For 90 ETH
The Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, announced today that it sold a donated CryptoPunks NFT for ETH which was more than $100,000 at the time of sale.
In March, CryptoPunks #5364 was donated to the Ukrainian crypto fund and was valued at $2,60,000 back then, before the price of ETH began to drop significantly.
Ukraine began accepting crypto and NFT donations in late February, shortly after Russian troops invaded the country. Since then, the nation has reportedly raised over $135 million in crypto through cryptocurrency donations including $6.75 million in a single sale of a Ukrainian flag NFT.
A few weeks ago, the Ukrainian rap group Kalush Orchestra, this year’s Eurovision champions, auctioned off their trophy from the music competition to raise almost $1 million in ETH for the fund.
Ukraine’s Crypto Fund
Ukraine’s crypto fund helps purchase non-lethal supplies for Ukraine’s military, ranging from bulletproof vests to medical supplies.
The funds are not actually held or spent by the Ukrainian government, which only endorses and oversees the project. Ukrainian crypto exchange Kuna operates the fund’s treasury, which is used to help fund the purchases of volunteers.