Everything you need to know about Donald Trump’s Nft collection
The Donald Trump NFT collection, created on the Polygon network, contains hundreds of digital trading cards depicting events from Trump’s life and career. There are 45,000 digital cards for sale, priced at $99 each.
Donald Trump is one of those public figures who finds the limelight wherever he goes. On December 16, the former President of the United States (POTUS) made headlines once again, this time for launching his own NFT collection. The move came as a surprise to many, given Trump’s anti-crypto stance.
However, it seems the man knows what he’s doing, and the entire collection sold out in less than 12 hours. But what is the Trump NFT collection and why is there so much hype surrounding it? Let’s dig deeper.
Donald Trump and his NFT collection
Last Thursday, Donald Trump teased his followers on Truth Social with a big announcement. Since Trump only recently announced his candidacy for re-election, most assumed that the announcement would imply something about his 2024 presidential campaign. However, to everyone’s surprise, he announced that he was launching an NFT collection. For those unfamiliar, Truth Social is a social media platform that Trump created and has been using ever since he was banned from Twitter in January 2021.
The collection, created on the Polygon network, contains hundreds of digital trading cards depicting events from Trump’s life and career. There are 45,000 digital cards for sale, priced at $99 each. Some designs will be unique, while others may have 2, 5, 7, 10 or 20 copies. No one can choose which NFT they buy; it is automatically generated and delivered to the linked wallet.
Although he never used the term NFT or Non-Fungible Tokens directly, that is exactly what these digital cards are. NFTs are unique digital assets that serve as proof of ownership on a blockchain. The previous year saw a meteoric rise in NFT prices and sales volume.
Some top NFT projects, such as Bored Ape Yacht Club (BAYC) or Axie Infinity, were sold for astronomical prices. However, this year has been more of a downer. The crypto winter seems to never end and has also affected the NFT market. NFT sales fell nearly 60 percent in Q3 2022 and continue to plunge month-on-month. Given these circumstances, no one expected Trump to release an NFT collection, especially at this time.
His wife, former first lady Melania Trump, launched her own NFT collection in February this year. The market was doing better then. However, Donald Trump followed in her footsteps, although the timing is a little off. Global recession, rising interest rates, the war in Ukraine and several other factors have dampened the market to a significant extent. Still, Trump managed to sell out all his 45,000 NFTs in just 12 hours, and that’s no joke, especially in a time like this.
According to the website, the collection was developed by a company called NFT INT. The footer on the page mentions that NFT INT is in no way owned or controlled by Donald Trump. Instead, NFT INT has acquired a license to use Donald J Trump’s name, likeness and image for the project. In return, they receive 10 percent of the sales revenue, none of which will be used to finance Trump’s re-election campaign. What Trump does with his sales proceeds, however, is anyone’s guess.
Benefits of the package
Trump is known for his flamboyance, and it has found its way here as well. If you own a Trump NFT, you could win some amazing prizes. For example, all holders of this NFT are automatically registered in a lottery. Multiple winners will be selected and each will be awarded a different prize. Some prizes include a gala dinner with Trump in Florida, a meet-and-greet cocktail hour, dinner for two at Trump Tower in New York, a Zoom call with the former POTUS, autographed memorabilia, etc.
The more NFTs you buy, the more entries you can enter into the draw. Also, those who purchase 45 or more NFTs are guaranteed a ticket to the Florida Gala Dinner. The venue for this gala dinner is said to be the historic Mar-a-Lago, a 126-room, members-only club with a spa and other luxury hotel-style amenities. Trump bought the historic landmark in 1985 and turned it into a luxury resort. And as of now, over 250 people have bought more than 45 NFTs from the collection.
The Trump NFT collection is among the most popular NFT projects on OpenSea at the moment. The floor price has gone up, reaching almost $650 from the original price of $99. Now that’s a big jump. So, in addition to the advantages and benefits, these NFTs have already given their holders many gains.
Conclusion
Sure, Donald Trump is unpredictable, but the man seems to know what he’s doing. His attack and success in the NFT world speaks to this fact. And judging by the response to his first NFT collection, Trump may be spurred to launch several other such projects in the future.
