On March 1st, an Ethereum address sent CryptoPunk #5364 to the official Ukraine Crypto Donation wallet.
Nobody’s sure what this NFT should be worth, but analysts on CoinDesk suggest it could sell for over $200,000. The last time CryptoPunk #5364 sold on OpenSea was in February of 2021. Back then, this historic NFT swapped hands for 16.19 ETH, or about $31,000.
We also don’t know who sent CryptoPunk #5364 to Ukraine. However, data on OpenSea and Etherscan suggests this donor has many valuable NFTs in their portfolio. In addition to extra CryptoPunks, whoever donated CryptoPunk #5364 has a wide assortment of World of Women NFTs.
There’s no word on what the Ukrainian government plans to do with CryptoPunk #5364. However, it’s clear that crypto donations are playing a critical role in helping Ukraine during the ongoing Russian invasion.
On February 26th, Ukraine listed official wallet addresses for Bitcoin, Ethereum, and ERC-20 donations. Since then, Ukrainian charities and government organizations have received at least $54 million in crypto. Most of these funds are going towards Ukraine’s military operations and civilian aid.
While CryptoPunk #5364 may be the first blue-chip NFT donated to Ukraine, it’s not the first time NFTs helped raise funds for the European nation. As Forkast reported, the official Ukraine DAO auctioned a Ukrainian flag NFT on the platform PartyBid. In total, the Ukraine DAO received 2,173 ETH (or $6.5 million) from a group of bidders. Fractions of the Ukraine flag NFT were given to everyone who pooled their crypto in this auction.
Is CryptoPunk #5364 truly worth $200,000?
On Larva Labs’ official CryptoPunks auction site, today’s low-end price for a CryptoPunk is around 68.4 ETH (or about $181,000). Therefore, the $200,000 estimate for CryptoPunk #5364 isn’t too far-fetched. Indeed, if Ukraine were to get $200,000 for CryptoPunk #5364, it wouldn’t be that much higher than the current floor price.
Since CryptoPunks is one of the oldest and most influential NFT collections, it consistently ranks high on trading platforms like OpenSea. Also, as Rarity Sniper recently reported, big investors like Chain’s CEO have spent millions on just one Alien CryptoPunk. A recent auction at Southeby’s also sold over 100 CryptoPunks for $30 million.
Why don’t analysts believe CryptoPunk #5364 could bring in millions? Well, solely looking at CryptoPunk #5364’s traits, it isn’t one of the rarest in the 10K CryptoPunk portfolio. In fact, Rarity Sniper gives CryptoPunk #5364 a Rarity Score of 27.5 and a rank of 8609.
Of CryptoPunk #5364’s three attributes, his blue bandana is somewhat rare at 4.81 percent. However, CryptoPunk #5364 is male and has a total of three features, both of which are common in the CryptoPunk collection.
Still, considering whoever purchases CryptoPunk #5364 will donate to Ukraine’s military efforts, potential buyers probably aren’t too concerned with this NFT’s rarity score.