Ukrainian Govt To Realize The Importance Of Cryptocurrencies

The Ukrainian government has realized the importance of cryptocurrencies, as it witnessed uninterrupted monetary aid in the form of crypto and nonfungible tokens (NFT).

It has been reported that in a continued effort to aid the needs of its citizens and the nation, the Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, announced the sale of a CryptoPunks NFT for 90 Ether (ETH) that was received as a donation on April 20, 2022.

However, the CryptoPunk 5364 NFT was donated to the Aid For Ukraine campaign by user 0x165cd3, who procured the artwork on March 1, 2022, for 16.19 ETH, which was worth $31,722 at the time. Soon after the NFT was donated to Ukraine, it got a buy offer for 100 ETH worth $288,414 on April 27, the highest bid it ever received.

The report said that on Sunday, Ukraine sold CryptoPunk 5364 for 90 ETH worth $102,640. The buyer, 0xc08f6d, spent $103,523 to compensate for the Ethereum gas fees.

Likewise, the NFT belongs to a collection of 6039 Male punks, a pixelated variation of male characters. Ukraine became the third country that isn’t a member of the European Union, after Norway and Liechtenstein, to join the European Blockchain Partnership (EBP) as an observer. After this move, the country plans to expand its interstate blockchain network partnership with other countries.

Konstantin Yarmolenko, the founder and CEO of Virtual Assets of Ukraine, told about Ukraine’s interest in running test-node of the EBSI and pilot use cases of the cross-border public services based on the blockchain technology.

Thus, he added:

“Next step is full blockchain integration of Ukraine and EU based on EBP/EBSI initiatives.”

Source: Cointelegraph