CryptoPunk NFT Is Latest Donation to Ukraine’s $33M Campaign

The sought-after NFT could be worth $200,000 according to some estimates.

AccessTimeIconMar 2, 2022 at 4:14 a.m. UTC
Updated Mar 2, 2022 at 8:04 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CryptoPunk #5364 was transferred to Ukraine’s Ethereum wallet on Tuesday, adding a potentially lucrative and sought-after asset to a donation campaign that’s already amassed over $33 million in cryptocurrencies.

Estimates of the Punk’s value vary: Tom Robinson of crypto tracing firm Elliptic notched it at around $200,000 when he flagged the donation late Tuesday; DeepNFTvalue, a blog that uses machine learning to estimate prices for rare NFTs, placed it at $233,000.

The punk fetched a sales price of $31,300 in February 2021, the last time it was sold. The donor has a collection of several other Punks, according to his wallet address.

It landed amid a banner streak for Ukraine’s fast-accelerating crypto campaign: over $10 million raised in ETH, DOT, USDT, BTC and other crypto tokens on Tuesday alone, the single-largest day since Ukraine began asking for donations on Feb 26.

Earlier Tuesday, Michael Chobanian, a Ukrainian crypto exchange founder who is helping the Ministry of Digital Transformation handle donations, told CoinDesk TV that at least $14 million of donated crypto had already been spent on military hardware and supplies for civilians, including food and gas.

“The majority of spending is actually done in crypto,” Chobanian said at the time. He previously told CoinDesk that Kuna, his exchange, operates the wallets used by the Ukrainian government.

Chobanian didn't immediately respond to CoinDesk when asked via Telegram what would be done with the Punk.

Russia invaded Ukraine last week, prompting the smaller European nation to solicit aid in the form of both weapons and funding to support its effort to repel its neighbor.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Trending

2
CoinDesk - Unknown
A New Chapter of Web3: Solana Unveils Smartphone ‘Saga’; Moody’s Downgrades Coinbase

The most valuable crypto stories for Friday, June 24, 2022.

CoinDesk - Unknown
3
CoinDesk - Unknown
How Are Institutions and Companies Investing in Crypto?

From putting bitcoin on their balance sheets to setting up shop in the metaverse, the ways brands and institutions are investing in cryptocurrencies continues to expand.

CoinDesk - Unknown
4
CoinDesk - Unknown
Consensus 2022: Hollywood, Colleges, Conferences vs. Crypto

The state of crypto and economics live from Consensus 2022 in Austin, Texas.

CoinDesk - Unknown