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CryptoPunk NFT Donation to Ukraine’s $33M Campaign

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On Tuesday, one of the most sought-after and potentially profitable assets in a cryptocurrency contribution drive that has already collected more than $33 million in cryptocurrency was transferred to Ukraine’s Ethereum wallet, making it one of the most sought-after and potentially profitable assets in the campaign.

According to Tom Robinson, CEO of crypto tracking company Elliptic, the Punk is worth anywhere between $200,000 and $233,000; DeepNFTvalue, a blog that employs machine learning to estimate values for uncommon NFTs, estimates the Punk’s worth to be closer to $190,000.

The punk sold for $31,300 in February 2021, which was the last time it was offered for purchase. According to the wallet address, the donor also has a collection of other Punks.

What is CryptoPunk NFT?

CryptoPunks are 24×24 pixel graphics made by a computer programme. There are a few more unusual characters in the mix, including Apes, Zombies, and even an Alien. In addition to their individual qualities, each punk has a profile page that reveals their ownership/for-sale status.

The CryptoPunks are made up of 10,000 distinct individuals. Each one is distinctive and may be owned officially on the Ethereum blockchain by a single user. Anyone with an Ethereum wallet was initially able to claim these tokens for complimentary, but within a few hours, the first 10,000 were all claimed. Because of the blockchain-integrated commerce, they should always be purchased through a third party.

Punks for sale may be purchased, bid on, and offered through this market. You may learn more about each Punk’s current market position by reading the details provided below. Not for sale: Punks with a blue backdrop have no bids. Punks with a red backdrop may be purchased from their owner. Purple-suited punks may now expect an active bidder.

How Does This Help Ukraine?

For Ukraine’s fast-growing crypto campaign, it came at the end of a banner day: almost $10 million was donated just in ETH and other crypto tokens on Tuesday, the greatest single day since Ukraine started asking for contributions on February 26th, 2017.

By one estimate, Ukrainian crypto exchange entrepreneur Michael Chobanian estimates that at least $14 million in donated crypto has already been spent on military equipment and civilian supplies, including food and gas. Chobanian is working with Ukraine’s Ministry of Digital Transformation to help process contributions.

At the time, Chobanian noted, “The bulk of spending is really done in crypto. As he previously said, Kuna (his exchange) is responsible for the government’s cryptocurrency wallets.

In response to a question from CoinDesk over Telegram, Chobanian did not immediately answer.

Following Russia’s invasion of Ukraine last week, the smaller European country appealed for assistance in the form of weaponry and financial backing to help it fight its neighbour’s invasion.

What Do I Need to Do to Own a Punk?

  • MetaMask, a Chrome browser extension, may be downloaded and installed. This will enable authorised websites to access your Ethereum wallet.
  • Buy some Ether if you’re a new user. A button in the MetaMask plugin lets you purchase Ether from Coinbase.
  • Add-ons for bidding, buying and selling punks are available on this website after the plugin has been installed.
  • Punk #9662, for example, is available for the paltry sum of 68.9 ETH ($202,136.06).

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