On Friday, December 15, 2022, former President of the United States Donald Trump made headlines when he teased a major announcement on his Truth Social app.
Most people were probably thinking he would announce major policies about his 2024 political ambition or whom he selected for Vice-President, but unfortunately, it was about his NFT collection.
“MAJOR ANNOUNCEMENT! My official Donald Trump digital Trading Card collection is here!” Trump wrote. “These limited edition cards feature amazing ART of my Life & Career!”Truth Social / @realDonaldTrump
The collection consisted of a series of NFTs featuring images from Trump’s time in office and his many poses with the number 45, him being the 45th President of the United States of America.
The NFTs went on sale the following day, with a price tag of $99 per token on his website https://collecttrumpcards.com/. Within hours, all of the available tokens had been sold out, leading some to speculate that the collection would become a highly sought-after and valuable asset in the world of NFT collecting.
However, not everyone was excited about the launch of Trump’s NFTs. Some leftist mainstream media outlets mocked the collection, with some even calling it a “scam” and a “desperate attempt” to monetize his time in office. Some even called him a grifter.
Despite the negative reactions from some quarters, the Trump NFTs quickly gained a strong following and began to rise in value on the OpenSea.io marketplace. It is currently trending number one. As more and more people became interested in NFTs, the price for the tokens began to rise rapidly, with some individual tokens selling for over $1000 CAD.
The rapid increase in value of the NFTs was due in part to the high demand for the tokens and the limited supply available, as there were only a total of 45,000 NFTs in this collection. It was also likely influenced by the controversial nature of Trump and his time in office, as collectors may have seen the NFTs as a way to own a piece of political history.
Despite the initial criticism and skepticism surrounding the launch of Trump’s NFTs, the success of the collection has been seen as a testament to the growing popularity and mainstream acceptance of NFTs as a new form of the digital asset. In the past year, NFTs have gained widespread attention for their ability to represent and certify ownership of digital assets such as art, music, and even tweets.
Many people have speculated about the reasons behind Trump’s decision to create and sell NFTs. Some have suggested that it was a way for him to monetize his time in office and capitalize on his popularity, while others have speculated that it was a way for him to stay relevant and in the public eye following his departure from office.
Regardless of the motivations behind the NFT sale, it is clear that Trump’s NFTs collection has been a huge success. The rapid increase in value of the NFTs on the OpenSea.io marketplace has shown that there is a strong demand for unique and collectible digital assets and that NFTs have the potential to be a significant force in the world of art and collectibles.
It remains to be seen what the long-term impact of Trump’s NFT announcement and subsequent sale will be, but it is clear that NFTs are here to stay and are quickly becoming an important part of the digital landscape. As more and more people become aware of the potential of NFTs and the value they can represent, it is likely that we will see even more high-profile NFT sales and announcements in the future.
Disclaimer: * This article is 90% written by the ChatGPT AI with minor revision by Tom Vu. We love to know what you think.