"Raising War Funds by Selling NFTs" Ukraine Begins Selling Donation NFTs Including CryptoPunks

CryptoPunk created by the US developer Lava Labs

[Asia Economy Reporter Jeong Hyunjin] Ukraine has started selling over 300 non-fungible tokens (NFTs) donated from countries around the world online. They are selling various NFTs, including the notable 'CryptoPunk' in the NFT market, to secure funds needed for the war with Russia.

According to Bloomberg on the 5th (local time), Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine, stated in an interview that Ukraine plans to open a website this week to sell NFTs donated so far, including CryptoPunk. CryptoPunk, created by the U.S. developer Larva Labs, is a simple pixelated avatar image expected to sell for about $200,000 (approximately 242.5 million KRW).

Deputy Minister Bornyakov explained that only about 5 to 10% of the donated NFTs have value, and the sales will be conducted through the opening of an NFT exchange. He added that such NFT works have much more impact than cryptocurrency donations because they remind people of what has happened in Ukraine.

The scale of cryptocurrency donations Ukraine has received so far exceeds $60 million. Of this, $41 million was spent on purchasing items such as bulletproof vests, helmets, and medical supplies, and the rest will be used to help domestic refugees, Deputy Minister Bornyakov said.

He also mentioned that with a $20 million donation from the cryptocurrency foundation 'Stellar Development Foundation,' they were able to provide $300 worth of cryptocurrency to 66,000 citizens. Deputy Minister Bornyakov added that this cryptocurrency will be given first to citizens with children or low income.

This content was produced with the assistance of AI translation services.