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A CryptoPunk Was Sold To Help Ukraine: Here's How Much It Went For

Cryptocurrency Jun 23, 2022 17:12
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© Reuters. A CryptoPunk Was Sold To Help Ukraine: Here's How Much It Went For
 
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To help aid in its efforts against an invasion by Russia, the country of Ukraine began accepting cryptocurrency donations earlier this year. Someone transferred a non-fungible token from one of the most well-known and valuable collections to help in the efforts.

The NFT was recently sold. Here are the details.

What Happened: CryptoPunk #5364 was purchased on Feb. 21, 2021, for 16.19 ETH before it was donated in March 2022 to the wallet being used by Ukraine to accept cryptocurrency donations.

CryptoPunk #5364 has the following traits:

Bandana: 5% of Punks

Cigarette: 10% of Punks

Classic Shades: 5% of Punks

Male: 60% of Punks

At the time of the donation, the floor price of CryptoPunks was 68.9 Ethereum (CRYPTO: ETH), or around $204,000.

The NFT was recently sold for 90 ETH, or more than $100,000, according to the government of Ukraine.

Related Link: How The Cryptocurrency And NFT Communities Are Rallying Financial Support For Ukraine And Its Artists

Why It’s Important: Ukraine accepting cryptocurrency as a donation option led to a pouring in of support. The country has received more than $135 million in donations from Bitcoin (CRYPTO: BTC), Ethereum, Dogecoin (CRYPTO: DOGE), other cryptocurrencies and NFTs.

Crypto donations are used to buy items such as bulletproof vests and medical supplies for the country.

CrytoPunks are considered by many to be one of the original Ethereum NFT collections and a strong bet on value.

A surge in sales volume for the collection happened last week with volume hitting $23.6 million, up 382% from the previous week.

CryptoPunks ranks second all-time among NFT collections with $2.29 billion in sales volume, trailing only Axie Infinity.

The floor price for CryptoPunks is 64.89 ETH, or $72,582, at the time of writing.

Photo: CryptoPunk #5364

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

A CryptoPunk Was Sold To Help Ukraine: Here's How Much It Went For
 

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