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Monday, January 30, 2023

Ukraine sells CryptoPunks NFT donation for 90 ETH, worth over $100K

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It took cross-border sanctions and an escalating warfare for the Ukrainian authorities to appreciate the significance of cryptocurrencies because it witnessed uninterrupted financial support within the type of crypto and nonfungible tokens (NFT).

In a continued effort to help the wants of its residents and the nation, the Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, introduced the sale of a CryptoPunks NFT for 90 Ether (ETH) that was obtained as a donation on April 20, 2022.

The CryptoPunk 5364 NFT was donated to the Aid For Ukraine marketing campaign by consumer 0x165cd3 who procured the paintings on March 1, 2022, for 16.19 ETH, which was worth $31,722 on the time. Soon after the NFT was donated to Ukraine, it acquired a purchase provide for 100 ETH worth $288,414 on April 27 — the very best bid it ever obtained. 

Fast ahead to June 19, Ukraine offered CryptoPunk 5364 for 90 ETH worth $102,640. However, the client, 0xc08f6d, spent $103,523 to compensate for the Ethereum fuel charges.

Bid/promote historical past of CryptoPunk 5364 NFT. Source: cryptopunks.app

The NFT belongs to a group of 6039 Male punks, a pixelated variation of male characters.

Related: Third non-EU country, Ukraine, joins the European Blockchain Partnership

Ukraine turned the third nation that is not a member of the European Union —after Norway and Liechtenstein — to hitch the European Blockchain Partnership (EBP) as an observer. Following this transfer, the nation plans to develop its interstate blockchain community partnership with different international locations.

Konstantin Yarmolenko, founder and CEO of Virtual Assets of Ukraine informed Cointelegraph about Ukraine’s curiosity in operating test-node of the EBSI and pilot use instances of the cross-border public providers based mostly on the blockchain know-how.

He additional highlighted that the crypto donations throughout the Russia-Ukraine warfare “proved as important support,” stating:

“Next step is full blockchain integration of Ukraine and EU based on EBP/EBSI initiatives.”