Donald Trump’s highly controversial NFT collection featuring himself sells out within 12 hours, raising $4.45 million.
Former US President Donald Trump has released a collection of digital trading cards featuring illustrations of him in various roles, including a superhero, astronaut, and NASCAR driver. In a statement, Trump referred to the collection as “amazing ART of my Life & Career!”
The launch of the trading card collection came after Trump announced his third bid for the White House last month and sparked speculation this week with his promise of a “major announcement”. Some people had speculated that he would reveal his running mate for the presidential campaign.
The release of the Trump-themed NFT collection on Truth Social caused surprise and disappointment among some supporters who had anticipated a “major announcement” related to his 2024 presidential campaign.
Instead of making a “major announcement” related to his presidential campaign, former US President Donald Trump promoted a collection of non-fungible tokens (NFTs) on his social media platform, Truth Social. The NFTs, which are digital assets that can be bought and sold like any other piece of property but do not have a tangible form of their own, are being marketed as collectible digital trading cards featuring illustrations of Trump in various roles, such as a superhero and astronaut. The NFTs cost $99 each and are being promoted as a potential Christmas gift. Buyers will also be entered into a sweepstake for a chance to win prizes, including a gala dinner or a game of golf with Trump. While NFTs have gained popularity as a digital alternative to collectibles, some have warned about potential risks in the market.
“My official Donald Trump Digital Trading Card collection is here!” he posted on Thursday
He announced the release of his official “Donald Trump Digital Trading Card collection,” which consists of 45,000 non-fungible tokens (NFTs) on the Polygon blockchain. Despite being widely mocked, the NFTs sold out within 12 hours, generating $4.45 million in sales at a price of $99 each, according to data from OpenSea. The creators of the NFT collection also receive 10% of every sale on secondary markets such as OpenSea, where traders have spent $406,000 (320 ether) buying and selling the tokens. It is unclear who the money from these sales goes to and how it will be used.
The announcement of Donald Trump’s NFT collection has been met with criticism from social media users and high-profile Republicans. Steve Bannon, a right-wing media commentator and former chief strategist for Trump, stated on his podcast that anyone involved in the project “ought to be fired today,” and expressed his inability to support it. In response, President Joe Biden made a sarcastic comment on Twitter, implying that his own “MAJOR ANNOUNCEMENTS,” such as easing inflation and signing a marriage protection bill, are more significant than Trump’s NFT collection.
