Ukraine Raises Over $100,000 by Selling Donated NFT

Ukraine launched the NFT collection ‘Meta History: Museum of War’ to provide funds for the army and civilians.

Ukraine Raises Over $100,000 by Selling Donated NFT
Image Credit: Pixabay

In the latest move, the government of Ukraine has sold the NFT of Crypto Punk to fund the war against Russia.

The NFT of Crypto Punk was donated for @_AidForUkraine fund a few months back when the crypto community came in support of Ukraine amidst war. Now this NFT labelled as #CryptoPunk #5364 has captured a market value of 90 ETH which is almost equivalent to $100K.

The CryptoPunks are 10,000 uniquely generated characters as Non Fungible Tokens on the blockchain of Ethereum. It was created by Larva Labs. The Cyber Punks find their inspiration from the London punk scene and cyberpunk films and novels.

No two characters are same and , and each one of them can be owned by a single person on the Ethereum blockchain. Although, initially they could be claimed for free by users of Ethereum but now they can only be bought from someone who possess them. The market price that the Ukraine has been able to achieve for its Crypto Punk is a clear indication of its popularity amongst NFT players.

CryptoPunks was created by Larva Labs, a two-person development team working on all sorts of projects from mobile games and utilities to web infrastructure to digital design and art.

After the invasion of Russia on Ukraine in February, various eminent personalities and communities have supported Ukraine by providing generous donations in various forms. Crypto World has shown its magnanimity by donating Bitcoins and NFTs. Even various artists of international fame have come forward to develop NFTs for the Ukrainian cause which were sold to support Ukraine against Russia. The funds generated have been used for various purposes ranging from providing food to the locals to providing arms and armor to the soldiers.

Ukraine, so far has raised Over $135 million in cryptocurrency donations as mentioned by the country’s Deputy Minister of Digital Transformation, reports Coindesk.

Earlier also, in the month of March, Ukraine launched the NFT collection ‘Meta History: Museum of War’ to provide funds for the army and civilians affected by the Ukraine-Russia military conflict.