It took cross-border sanctions and an escalating warfare for the Ukrainian authorities to comprehend the significance of cryptocurrencies, because it witnessed uninterrupted financial assist within the type of crypto and nonfungible tokens (NFT).
In a continued effort to assist 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 acquired as a donation on April 20, 2022.
Breaking information on crypto donations: #CryptoPunk #5364 has been offered for 90 ETH. It is over $100K. Few months in the past this NFT was donated for @_AidForUkraine fund. Crypto group continues to help Ukraine.
— Alex Bornyakov (@abornyakov) June 20, 2022
The CryptoPunk 5364 NFT was donated to the Support For Ukraine marketing campaign by person 0x165cd3, who procured the paintings on March 1, 2022, for 16.19 ETH, which was value $31,722 on the time. Quickly after the NFT was donated to Ukraine, it received a purchase supply for 100 ETH value $288,414 on April 27 — the best bid it ever acquired.
Quick ahead to Sunday: Ukraine offered CryptoPunk 5364 for 90 ETH value $102,640. Nevertheless, the client, 0xc08f6d, spent $103,523 to compensate for the Ethereum gasoline charges.
The NFT belongs to a group of 6039 Male punks, a pixelated variation of male characters.
Associated: Third non-EU nation, Ukraine, joins the European Blockchain Partnership
Ukraine grew to become the third nation that isn’t 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 Digital Belongings of Ukraine, informed Cointelegraph about Ukraine’s curiosity in working test-node of the EBSI and pilot use instances of the cross-border public companies based mostly on the blockchain know-how.
He additional highlighted that the crypto donations in the course of the Russia-Ukraine warfare “proved as necessary help,” stating:
“Subsequent step is full blockchain integration of Ukraine and EU based mostly on EBP/EBSI initiatives.”