Bored Ape Yacht Club Donates $1 Million in Ethereum to Ukraine

The NFT collection of the Bored Ape Yacht Club (BAYC) announced on Tuesday that it has contributed $1 million to the country of Ukraine‘s official Ethereum wallet address.

The Bored Ape Yacht Club NFT collection’s Twitter account published the information, along with an Etherscan transaction link indicating that it sent 388.999 ETH (just over $1 million) after being motivated by the donations of its community members.

NFTs are one-of-a-kind tokens that exist on a blockchain such as Ethereum and represent asset ownership. The BAYC was one of the first NFT collections to achieve a floor price—or minimum “buy-now” price per NFT—of more than 50 ETH.

The BAYC has since become a social emblem in the NFT sector, with celebrities such as Eminem, Steph Curry, Jimmy Fallon, and many more “aping” into the collection.

According to OpenSea’s statistics, the BAYC is now the second-largest NFT collection of all time, with over 417,000 ETH ($1 billion) in secondary sales.

The BAYC gift to Ukraine comes after a slew of other Web3 communities—from DAOs to memecoin holders to NFT collections—announced projects and activities aimed at assisting with the relief efforts in Ukraine.

According to Merkle Science statistics, Ukraine has received well over $88 million in cryptocurrency donations to date, and the government now holds roughly $7 million in Ethereum in its wallet.

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Patrick

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