Donald Trump Releases Custom Non-fungible Token (NFT) Collection

Former U.S. President Donald Trump has rolled out a custom non-fungible token (NFT) collection of 45,000 fantasy cards. Trump made the announcement yesterday on Truth Social, a social media platform that he founded last year following his ban on Twitter, Facebook, and YouTube.

Summary

• Donald Trump launches NFT collection of 45,000 trading cards
• The collection sold out in less than 24 hours with 115 wallets owning 45 NFTs or more 
• Trump Digital Trading Cards NFT collection is currently trading over 50% in profit on the secondary market

Donald Trump Launches NFT Collection

Donald Trump released an NFT collection of 45,000 trading cards that were deployed on the Polygon network. The cards are digital images of himself cosplaying as a fighter pilot, an astronaut, a sheriff in a white duster, a red-carpet celebrity, and many more. The NFTs were made available to be minted on the collection’s website, the Trump Digital Trading Cards, at $99 a piece which could be purchased with ETH or fiat.

Each Trump Trading Card purchased by an investor represented an entry into a “sweepstakes” for a chance at a zoom call, a round of golf, a dinner in Miami, or a cocktail hour at Mar-a-Lago with Trump himself. Another perk was that investors who purchased 45 NFTs, which cost a total of $4,455 or more at checkout, won a guaranteed ticket to a gala dinner with Trump.

Trump’s elaborate entry into the NFT market after he tweeted in 2019 that he was “not a fan” of cryptocurrency came as a surprise to the crypto community and other spectators at large. He made additional efforts to promote the collection with a post and promotional video that was published on his Truth Social platform.

Trump Digital Trading Cards NFT Collection Sold Out 

After its initial release on Thursday, Trump’s non-fungible token (NFT) digital trading card collection completely sold out in less than 24 hours without any notable hitch and is now trading on the secondary market. Dune Analytics data shows that 115 investors minted 45 NFTs or more, the minimum NFTs required to win a ticket that guarantees a gala dinner with Trump, and nearly 13,000 users minted 3.5 tokens upon the collection’s release.

As of the time of press, Trump Digital Trading Cards is trading at a floor price of 0.13 ETH (approximately $150), which is about 50% up from the mint price of $99, after reaching an ATH of over 0.21 ETH (over $250). The collection also has a current trading volume of 1,695 ETH, which is about $1.98 million, according to data from OpenSea.

Conclusion

This is not the first Trump NFT rodeo; former First Lady Melania Trump released a collection in 2020 that didn’t do well and it was revealed that the NFT she auctioned was purchased by herself for $185,000. Many already believe that this collection is dead on arrival or is an “Ambien Dream,” as Jimmy Fallon put it. One thing is certain: time will tell whether or not the move was a productive one.