Ukraine Sells Donated CryptoPunk NFT for $100K to Support War Effort
The NFT was given to the country in March near the start of its crypto fundraising campaign.
Jun 20, 2022 at 6:28 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6CTPR4256FFJ3ENT3CZN72KBOQ.png)
Ukraine has sold CryptoPunk #5364, the highly valued non-fungible token (NFT) it received as a donation in early March during its fundraising campaign in its war against Russia.
Alex Bornyakov, the country’s deputy minister of digital transformation, announced the sale in a Monday tweet.
The NFT was sold to an anonymous buyer for 90 ETH, worth roughly $100,000 at the time of writing. The Punk was estimated to be worth as much as $260,000 when it was first transferred to Ukraine’s Ethereum wallet in March before the price of ETH began to drop significantly.
In total, Ukraine has raised more than $135 million in crypto donations since making its wallet public in February, including $6.75 million in a single sale of a Ukrainian flag NFT.
CryptoPunk values have skyrocketed in recent days, fueled by news of Yuga Labs hiring a new brand lead for the collection.
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Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.