It took cross-border sanctions and an escalating war for the Ukrainian government to realize the importance of cryptocurrency as it saw seamless monetary support in the form of crypto and non-fungible tokens (NFTs).
In a continuing effort to meet the needs of its citizens and the nation, Ukraine’s Deputy Minister of Digital Transformation, Alex Bornyakov, announced the sale of a Cryptopunks NFT for 90 Ether (ETH), to be offered as a donation on 20 April. was received. 2022.
Breaking News on Crypto Donations: #crypto punk #5364 has been sold for 90 ETH. It’s over $100K. Donated to this NFT a few months ago @_adforUkraine Fund. The crypto community continues to support Ukraine.— Alex Bornyakov (@abornyakov) June 20, 2022
The Cryptopunk 5364 NFT was donated to the Aid for Ukraine Campaign by user 0x165cd3 who purchased the artwork on March 1, 2022 for 16.19 ETH, worth $31,722 at the time. Immediately after donating NFTs to Ukraine, it received a buy offer on April 27 for 100 ETH worth $288,414 – the highest bid ever.
Fast forward to June 19, Ukraine sold Cryptopunk 5364 for 90 ETH for $102,640. However, the buyer, 0xc08f6d, spent $103,523 to cover the Ethereum gas fee.
NFT 6039 belongs to the collection of male bullies, a pixelated variation of male characters.
related: Ukraine, the third non-EU country, joins the European Blockchain Partnership
Ukraine became the third country – after Norway and Liechtenstein that is not a member of the European Union – to join the European Blockchain Partnership (EBP) as an observer. Following the move, the country plans to expand its interstate blockchain network partnerships with other countries.
Konstantin Yarmolenko, founder and CEO of Virtual Assets of Ukraine, told Cointelegraph about Ukraine’s interest in running test-nodes of EBSI and pilot use cases of cross-border public services based on blockchain technology.
He further added that crypto donations “proved to be of vital support” during the Russo-Ukraine War, stating:
“The next step is the full blockchain integration of Ukraine and the EU based on the EBP/EBSI initiative.”