Ukraine Government Receives CryptoPunk as NFT Donation

The Ukrainian military has received a donation of a CryptoPunk NFT worth over $200,000 to support its fight against the Russian invasion. CryptoPunk Donated to Ukrainian Army The original estimate of CryptoPunk’s valuation varies according to different platforms. According to data analytics firm Elliptic, the donated NFT is worth about $200,000. However, DeepNFTvalue, a blog that uses machine learning to estimate prices for rare NFTs, valued it at $233,000. The Punk was bought at a sales price of $31,300 the last time it was sold in February. Michael Chobanian, the founder of the Ukrainian crypto exchange Kuna who is helping the Ukrainian government handle crypto donations revealed yesterday that at least $14 million of donated crypto had already been spent on military hardware and supplies for civilians, including food and gas. “The majority of spending is actually done in crypto,” he said at the time. NFT Community Supports Ukrainian Artists The NFT community is showing support for Ukrainian artists following the Russia-Ukraine crisis. The community even compiled two spreadsheets that included hundreds of Ukrainian artists that were circulated across social media platforms to promote their work. The move led many of the Ukrainian artists to see their sales spike over the last 24 hours. Beeple, who set a record for selling an NFT worth about $69.34 million in March 2021 even created a piece dedicated to Ukraine as part of his...