New Filing Reveals Trump Made Up To $1 Million From NFT Sales – Here’s What You Need To Know
Donald Trump, the 45th president of the United States, has brought in up to $1 million from the sale of his digital trading cards.
According to a filing with the US Office of Government Ethics, the former US president earned between $100,001 and $1 million from CIC Digital, the company behind the sale of NFTs with digital images of Trump.
The filing was part of his personal financial disclosure to the Federal Election Commission, which also showed the US politician earned millions from speaking engagements. The submission is required by candidates running for president.
According to the filing, which was filed Friday, Trump holds the position of “manager, president, secretary and treasurer” of CIC Digital LLC and CIC Ventures LLC.
The official Trump Trading Cards website states that CIC Digital LLC allowed NFT INT LLC, the company behind the NFT Project, to use Trump’s likeness, name and image under a paid license agreement.
The project’s website also claimed that funds raised from the NFTs will not be used for Donald Trump’s presidential campaign.
As reported, the former president released his collection of NFTs, dubbed “Trump cards,” last December.
The NFT collection features a series of digital “cards” depicting Trump in various iconic poses and situations, which include Trump as a muscle-bound champion wrestler, Trump holding a basketball and even Trump in space.
“These limited edition cards feature amazing ART of my Life & Career!” he said at the time, adding that the cards, which cost $99 (£81) each, “would make a great Christmas present.”
There were a total of 45,000 NFTs, all minted on Polygon, a layer-two scaling solution that runs alongside the Ethereum blockchain and allows for fast transactions and low fees.
Recently, the NFT collection saw a surge in price following the news that a Manhattan grand jury voted to indict Trump.
In all, the project has sold over $19 million since its inception, according to chain data from NFT data aggregator CryptoSlam.
As of now, the highest bid for a Trump NFT is 10 ETH, or about $20,000. Most of the bids seem to be in the 0.3 ETH range (about $630).
Trump earned about $200 from Truth Social
The filing also said Trump earned less than $201 in revenue from Trump Media & Technology Group, the company behind the former president’s preferred social media platform Truth Social.
At the time of disclosure, the company was valued between $5 million and $25 million.
Furthermore, Trump’s 1987 memoir “The Art of the Deal” funneled between $100,000 and $1 million to the former president, according to the disclosure.
The billionaire also lists seven different mortgage obligations, each over $50 million, and eight that he owes between $5 million and $25 million.
Combined, the documents suggest Trump’s business holdings are valued at around $1.2 billion. Forbes estimates that the businessman is currently worth more than $2.5 billion.
