CryptoPunk NFT Is Latest Donation To Ukraine’s $33M Campaign

CryptoPunk NFT Is Latest Donation To Ukraine’s $33M Campaign
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All industries seem to revolve around the Russia-Ukraine crisis right now, and the crypto industry is no exception. Just a few days ago, Russia launched offensive attacks on Ukraine for many reasons, one of them being to prevent it from joining NATO- North Atlantic Treaty Organization. As we all hope and pray that this does not lead to a third world war that might wipe out all humanity from the planet, those who hold the strings to the purse are busy playing their game as money is always the engine in such events. 

Ukraine had taken to Twitter to ask for donations in cryptocurrencies. Halfway through 27th February, the said blockchain addresses had received a good 11,500 donations of crypto, accounting for almost $8 million. Most of the countries favor Ukraine, so the amount of donations is climbing the ladder at a relatively fast pace. 

Also Read: Surge In Oil Prices As Global Traders Abstain From Russian Supplies

In the latest donation, an NFT, yes an NFT! It was donated to Ukraine. CryptoPunk #5364 was donated to the Ethereum wallet of Ukraine on Tuesday. With this, the donation amount now counts at over $33 million in cryptocurrencies.

According to Tom Robinson, a spokesperson of Elliptic, the value of CryptoPunk #5364 is around $200,000. At the same time, another DeepNFTvalue blog estimates it at $233,000. DeepNFTvalue is a blog that uses artificial intelligence to estimate the value of rare NFTs. While donations from other blockchains like ETH, DOT, USDT, BTC, etc., amount to over $10 million, Tuesday of 1st March 2022 saw the most significant donations to Ukraine. 

Though earlier Ukraine preferred to remain silent on the allocation of the received funds, according to recent reports that site Michael Chobanian who is helping the Ministry of Digital Transformation in handling the donations, a minimum of $14 million has already been spent on ‘military hardware, supplies for civilians, including food and gas.’ He also stated that most of the spending had been done with crypto. 

As Russia, too, is suspected of using the way of crypto assets to escape the financial sanctions imposed on it by the western countries, it can be said for sure that this period will be an essential one in the history of the crypto industry. 

Also Read: India Gauging Impact Of Ukraine Conflict On Its Foreign Trade says Nirmala Sitharaman

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