Ukraine sells NFTs for $100,000 amid Russian aggression

The Ukraine nation sold 5364, the highest-valued donation it received this past March during a fundraising appeal to counter Russian aggression. An anonymous buyer paid 90 ETH, or approximately $100,000, for the non-fungible token or NFT.

The Ukrainian government has amassed more than 330 NFTs, many of which are donations from private citizens who are plugged into the Web 3 ecosystem. On opening the collection, one sees donations of NFTs ranging from Russian President Vladimir Putin sporting a black eye with the colors of the Ukrainian flag stamped on the bruised eye to scenes of war.

The country raised over $135 million in digital transformation this year — including $6.75 million by selling a Ukrainian flag NFT — but donations to the Aid for Ukraine fund have subsided, according to Alex Bornyakov, country's deputy minister of digital transformation. CryptoPunks are a collection of rare pixel art images, produced by an algorithm and sized at 24 x 24. In March, Ukraine's CryptoPunk was valued up to $260,000, but saw its value fall significantly due to a price drop since then.

The developer of CryptoPunks, Yuga Labs, has announced it is hiring the head of NFTs at Christie s, Noah Davis, as Brand Lead for CryptoPunks. He assured users that he would not pursue rushed utilities or thoughtless airdrops for the prominent NFT collection.