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Ukrainian government raises $100,000 from the sale of a donated CryptoPunks NFT

The Independence Monument in Ukraine and the Ethereum logo

Non-fungible tokens, better known as NFTs, are often-derided assets that live on various blockchains. While some fail to understand what value they could possibly hold, they are turning out to be quite useful in Ukraine’s war effort. The Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, confirmed that CryptoPunks #5364 – which had previously been donated to the country – sold for 90 ETH which was more than $100,000 at the time of sale.

The country’s ministry of digital transformation has been soliciting crypto donations to help with the costs of the war – of course, you can pay with currencies like dollars and euros but there is a heavy focus on crypto. So far, 482 bitcoins, 9711 Ether, 1.2 million USDC, and many other tokens have been donated.

The website claims that the community has raised more than $60 million (Bornyakov’s Twitter has cited an updated figure of $135 million) which has been spent on a whole host of things related to the war. As of April 14 it has spent $45 million.

In a more recent update, Alex Bornyakov said that $135 million in crypto has been raised to date. This first wave of crypto donations has run out and he requests that more is sent by those who can spare it. Currently, the price of Bitcoin is hovering around $20,000 – down from $67,000 at its last peak. This means donated crypto holdings you send now won’t go as far in terms of the things Ukraine can buy for the war.

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