The Ukrainian government, which had already asked for donations in cryptocurrencies, is making good use of the non-fungible tokens (NFT) it received. It has just sold a Larva Labs Cryptopunk for $100,000 to support the war effort.
Ukraine sells Cryptopunk to support wartime defense
As is often the case, the news was announced by Mykhailo Fedorov, the Ukrainian government’s deputy prime minister. He explained on Twitter that Cryptopunk number 5364 had been given to Ukraine a few months ago, but had not yet been sold.
However, it has just been sold for 90 ETH, or more than $100,000 at the current price. Fedorov reiterated his thanks to the cryptosphere, which sent tens of millions of dollars in donations at the beginning of the conflict:
A few months ago someone donated CryptoPunk 5364 for @_AidForUkraine And now we sold it for 90 ETH/ over $100K. Just wanted to thank crypto community for such generous donations. With your help we are able to support our defenders.
– Mykhailo Fedorov (@FedorovMykhailo) June 21, 2022
I just wanted to thank the crypto community for such generous donations. With your help, we can support our advocates. “
Cryptocurrency donations have been used by Ukraine for a variety of equipment purchases for local fighters.
We also note that Russia also seems to be starting to take an interest in the field. While it did not appear to have a specific strategy that included cryptocurrencies, it recently announced that it is developing a blockchain-based alternative to SWIFT.
