Blockchain

Trump Launches Once Again into NFTs

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Donald Trump needs no introduction. Apart from going all-in into the coming presidential race while being sued by the establishment, he has once again made waves in the digital world with his latest venture into NFTs (Non-Fungible Tokens). This new series, known as “Trump Digital Trading Cards” is on the Bitcoin blockchain and has already stirred up discussions and controversies in the cryptoshere.

An announcement from the Collect Trump Card Twitter account, known for promoting Trump-centric projects, revealed that the Trump MugShot collection will feature 200 cards. These cards are set to be inscribed onto the Bitcoin blockchain, using the innovative Ordinals protocol. Howver, the specific date for their sale on Magic Eden, one of the largest NFT marketplaces, remains undisclosed.

The Collect Trump Cards website provides further details, stating that these 100 NFTs will be available for purchase exclusively with Wrapped Ethereum. This technology facilitates the transfer of value across different blockchains, such as Bitcoin and Ethereum.

Non-Tradable Until December 2024

Despite the excitement around these trading cards, their announcement wasn’t without its quirks. The social media posts promoting them contained several grammatical errors and unconventional capitalization, drawing even more attention to Trump’s new venture.

These new collectibles, distinct for their non-tradability until December 2024, have raised eyebrows among enthusiasts. This unique characteristic, presumably to distance them from being viewed as investment tools, has ironically lessened their attractiveness to some potential NFT buyers. The official Trump Cards account recently announced that for $99, collectors could get 100 of the “mugshot edition” NFTs, previously issued on the Polygon blockchain, along with a special “ordinal” on the Bitcoin blockchain.

Adding to the exclusivity, only 200 of these unique “one of one” Ordinals will be created.

In a bid to stimulate sales, an exclusive offer has been introduced. The first 200 buyers who acquire 100 Trump NFTs in one transaction will receive a special “one of one” inscription upon its creation. Additionally, these purchasers will be granted two VIP tickets to a Trump-hosted event at Mar-a-Lago.

This Ordinals collection marks Trump’s continued interest in digital collectibles. Previously, in December, the MugShot Edition launched, featuring 100,000 NFTs on the Polygon network.

Following this, Trump made a significant transaction by selling 1,075 ETH, which amounted to approximately $2.4 million at the time, as reported by blockchain intelligence firm Arkham.

The Collect Trump Card account, while promoting these NFTs, has clarified that they are intended purely for entertainment. They stated:

“Trump Digital Trading Cards (NFTs) are intended as collectible items for individual enjoyment only, not as investment vehicles. These Digital Trading Cards are not political and are not associated with any political campaign.”

Not Trump’s First Foray into the NFT Space

Trump’s engagement with digital collectibles isn’t new. In December 2022, he released the “Trump Cards” NFT collection, featuring digital cards that portrayed him in various scenarios like a wrestling champion, a basketball player, and even in space. This collection has seen significant trading, with over $26 million in volume recorded on OpenSea, according to which, at present, less than half of the NFTs from this recent release have been minted.

Following the success of his first series, Trump launched a second series in August of the same year. This collection, comprising 47,000 tokens priced at $99 each, included limited one-of-one NFTs and autographed cards. The release was met with immediate success, selling out quickly after launch.

Speculation has been rife regarding the ownership and management of these NFT projects. The official Trump Trading Cards website states that CIC Digital LLC permitted NFT INT LLC to utilize Trump’s likeness, name, and image under a paid licensing agreement. Despite rumors, the website asserts that the proceeds from these NFT sales are not intended for Trump’s presidential campaign.

In a recent personal financial disclosure filed with the Federal Election Commission, Trump disclosed earnings of up to $1 million from his digital trading card sales. The filing also highlighted his significant earnings from speaking engagements. Furthermore, Trump is listed as holding key positions in CIC Digital LLC and CIC Ventures LLC, as “manager, president, secretary, and treasurer.”

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