BAYC Donated $1 Million In Ethereum To Ukaine: Report

Bored Ape Yacht Club – BAYC donated $1 million in Ethereum to Ukraine’s official Ethereum wallet address as we can see more today in our latest Ethereum news.

The NFT collection made a $1 million contribution to the Ukrainian government as it is battling with Russian forces. BAYC donated $1 million to Ukraine’s wallet address after the country was attacked by Russia almost two weeks ago and joined the list of companies and people that made contributions to the country.

The NFT collection’s Twitter account shared the information alongside an Etherscan transaction link which shows that it sent 388.999 ETH after being inspired by the community members’ contributions. NFTs are unique tokens that exist on the blockchain like Ethereum and signify ownership of the asset. The BAYC was among the first NFT collections to hit a floor price or a minimum of buy now price per NFT of over 50 ETH.
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Since then, the BAYX became a cultural symbol in the NFT space which celebrities like Jimmy Fallon, Justin Bieber, Eminem, and more, got into it. The BAYC is the second biggest NFT collection of all times based on the OpenSea rankings and registered over 417,000 ETH in secondary sales. The BAYC donation to Ukraine came after a number of other Web3 communities from DAO to memecoin holders announced more initiatives that were based around helping Ukraine’s relief.

To date, Ukraine recieved over $88 million in crypto donations and according to the data by Merkle Science, the government gathered more than $7 million in ETH in its wallet.

As recently reported, A Bored Ape owner from Texas filed a lawsuit against Opensea marketplace over the exploit that saw high-value NFTs being sold for a fraction of their cost. Timothy McKimmy wants his Bored Ape NFT back or demands damages of more than $1 million. His lawsuit could be the first that involved the inactive listings on the NFT marketplace. The Bored Ape owner from Texas unwittingly sold his NFT for 0.01 ETH which is the equivalent of $26 and he is now suited OpenSea for knowing about the bug that allowed hackers to purchase NFTs for a below-market price.

McKimmy whose LinkedIn profile lists him as the CEO of Texas Iron Ore Firm, claims that the platform knew about the bug which was reported in the media but refused to halt the trading in the interest of profits.