Ukraine sells CryptoPunk in order to fund its battle with Russia.
by Ebor Cletus Ralph Jr
After selling the very valuable non-fungible token (NFT) known as CryptoPunk #5364, Ukraine has raised another round of funding from the cryptocurrency market to support its battle against Russia.
On Monday, the country’s Deputy Minister of Digital Transformation, Alex Bornyakov, said that the CryptoPunk was sold at a price of 90 Ethereum in a message on the social media network Twitter.
According to reports, the 90 ETH is worth $100,000. Prior to the sale of CryptoPunk, Ukraine had raised $6.75 million through the selling of an NFT of its flag, as it had received support from the digital currency community during the conflict.
Ukraine’s government has received $135 million in donations from the cryptoasset community since releasing its cryptocurrency wallet to the public in February.
The $100,000 CryptoPunk was presented to Ukraine in March, and it was worth $260,000 at the time, but the subsequent crypto market fall has harmed the value of Ethereum and other cryptocurrencies.
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