Ukraine’s Deputy Minister of Digital Transformation, Alex Bornyakov, has revealed that the country raised funds in the cryptocurrency market through the CryptoPunk #5364 it was gifted in March.
Bornyakov, in a statement on Monday, via social media platform, Twitter, said the CryptoPunk, which is a Non-Fungible Token (NFT) was sold for over $100,000 (90 Ethereums) to an undisclosed buyer.
The minister had posted on his Twitter page, “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.”
The CryptoPunk was handed to Ukraine in March, as a financial support to the nation’s current war against Russia which invaded the country on February 24, 2022. The war is still ongoing, and NATO (North Atlantic Treaty Organization) has stated that the war could last for many years.
In March, the CryptoPunk was worth around $260,000, but the crash in the cryptocurrency has affected the value of the NFT, as well off grip the crypto community amid rising interest rates in United States and soaring inflation.
The sale of the CryptoPunk is one of the digital assets Ukraine has used to raise funds. The country had sold its NFT flag in the cryptocurrency market for $6.75 million, bringing its total digital currency fundraising to $135 million.