Ukraine is preparing to launch a website where it will auction off roughly 300 non-fungible tokens (NFTs) that have been donated to the country.
A CryptoPunk was among the given NFTs, according to Etherescan transactions, and was transferred to the country’s official Ethereum (ETH) address in early March. According to a report, Alex Bornyakov, Ukraine’s deputy minister of digital transformation, anticipates the CryptoPunk to sell for around USD 200,000.
The bulk of other donated NFTs, according to Bornyakov, are worthless. More specifically, he stated that between 5% and 10% of the donated NFTs could be useful.
The website might go up as soon as this week, and it will include 10 NFT collections made by independent businesses who have agreed to donate 100% of their profits to Ukrainian causes. The sales will take conducted on OpenSea, a prominent NFT platform.
Bornyakov was quoted as saying, “We just want to show how many people are doing this and how they are inspired by those events, and how they want to help Ukraine”
Within hours of the Russian invasion, the Ukrainian government began taking crypto donations, beginning with bitcoin (BTC), Ethereum, and tether (USDT). However, the country has now added a total of 14 crypto assets to the list.
As previously reported, Ukraine’s Ministry of Digital Transformation launched Aid For Ukraine, a crypto fundraising site, in collaboration with crypto derivatives exchange FTX and staking platform Everstake, in mid-March.
According to the website, the community has raised more than USD 60 million in various currencies, including BTC 432, ETH 9,068, DOT 433,967, SOL 7,626, and USDT 9.2 million.
The Ukrainian government created the “Meta History: Museum of War” in late March, a collection of war-themed NFTs aimed at raising additional revenue to support the country’s army and population. On the first day, the country sold 1,282 of these NFTs, raising ETH 190. (USD 640,705).
Raising funds through NFTs, according to Bornyakov, is “much more effective” than simply asking for crypto donations. “After that, you can store a piece and keep it until you wish to sell it.” “It’s still out there, reminding people of what happened,” he explained.
In the meantime, the Stellar Development Foundation, a non-profit organization dedicated to the development and promotion of the open-source Stellar (XLM) network, has committed to contributing cryptocurrency to aid Ukrainian migrants.
According to reports, the organization has raised USD 20 million and will distribute USD 300 in cryptocurrency to 66,000 Ukrainians. People with children and low-income individuals would be given precedence, according to Bornyakov, and residents will be able to cash out at MoneyGram facilities.
