Ukraine Sells Donated CryptoPunk NFT For Over $100,000 To Support War Efforts

Ukraine sold the NFT to an anonymous buyer for ETH 60.

When the NFT was donated, CryptoPunk #5364 was valued at $233,000.

Source : OpenSea

Ukraine on Monday sold its highly valued CryptoPunk NFT to support its efforts during the ongoing conflict with Russia. Since Russia invaded Ukraine in February this year, the Eastern European country has been amassing resources to help in its war efforts. The country gathered $135 million on cryptocurrency-related donations alone. CryptoPunk #5364, a rare NFT marked by its bandana- and shades-clad avatar with a cigarette on its lips, was donated to the Aid For Ukraine fund in March. The NFT has now been sold, as confirmed by Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov.

On June 20, Bornyakov took to Twitter to announce that CryptoPunk #5364 has been sold for ETH 90, which amounts to over $100,000.

Breaking news on crypto donations: #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.

— Alex Bornyakov (@abornyakov) June 20, 2022

Bornyakov added that the crypto community “continues to support Ukraine.”

ALSO SEE: EXPLAINED | NFT: What Is It? Should Creators Consider Selling Their Art As NFTs?

When the NFT was donated, it was valued at $233,000 as per DeepNFTValue, a platform that estimates prices for rare NFTs. The dip in its price now can be attributed to the recent crypto meltdown, which was caused by the LUNA crash in May as well as the Bitcoin and Ethereum plunge earlier this month.

ALSO SEE: Crypto Crash: Indian Investors Wary As Mega Sell-Off Continues

The NFT was sold to an anonymous buyer.

ALSO SEE: Axie Infinity, BAYC, Azuki, More: Top 10 NFT Collections By All-Time Sales Volume

The CryptoPunks collection was launched in 2017 with 10,000 unique pixellated cartoon characters. To date it has garnered an all-time sales of $2.25 billion, as per CryptoSlam.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.