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Ukraine sells CryptoPunk NFT to aid war efforts

The sale helped raise over $100,000 for Ukraine’s war effort. Over $135 million in cryptocurrency donations were raised by mid-May.

June 21, 2022 / 06:25 PM IST
Representative Image

Representative Image

The Ukrainian government has sold the CryptoPunk NFT for over $100,000, to aid the nation in its war efforts against Russia, the country’s Deputy Minister of Digital Transformation, Alex Bornyakov, said.

“#CryptoPunk #5364 has been sold for 90 ETH. It's over $100K. Few months ago this NFT was donated for @_AidForUkraine fund. Crypto community continues to support Ukraine,” the minister tweeted.

The CryptoPunk #5364 NFT was donated to the Ukrainian crypto fund in March this year.

Since Russia invaded Ukraine on February 24, an outpouring of support has streamed in from various avenues and personalities from across the world.

Apart from humanitarian aid from various organisations, Ukrainian officials have been appealing to the global crypto community to support their fight by donating in crypto assets while artists have actually resorted to releasing non-fungible tokens (NFTs) themed around Ukraine and channelling the proceeds to the cause.

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Over $135 million in cryptocurrency donations were raised by mid-May, as corroborated by the country’s Deputy Minister of Digital Transformation.

In the first week of March, $6.75 million was raised by a crypto group, through the sale of an NFT of the Ukrainian flag. A few weeks back, this year’s Eurovision champions, the Ukrainian rap group Kalush Orchestra, auctioned off their trophy from the music competition to raise almost $1 million in ETH for the fund.

A bulk of these funds has already been used to provide vital essentials, such as food for civilians and protective gear for the country’s soldiers, with President Volodymyr Zelenskyy reiterating his belief that digital assets can bring about an economic breakthrough for countries like Ukraine considering Russia’s threats to its banking system.
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.
first published: Jun 21, 2022 06:25 pm
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