Indeed, Donald Trump’s collection of 45,000 NFTs minted on the Polygon (MATIC) blockchain was met with hype after he announced the launch on his social media platform Truth Social on December 15, selling out rapidly at the original price of $99. The holders of a Trump NFT are also given a chance to win a dinner with the former president, golf with him in his golf club, have Zoom calls, have a live meeting with Trump, as well as receive memorabilia hand-signed by Trump himself.
Trump wasn’t always a fan
That said, Trump started out with a very skeptical attitude about the novel asset class, stating in July 2019, when he was still in the White House, that he wasn’t a fan of virtual assets with “highly volatile” value: Two years later, the former president referred to Bitcoin (BTC) as a ‘scam,’ stating that he didn’t like it “because it’s another currency competing against the dollar,” for which he wanted to be “the currency of the world.” As he explained:
Criticism over NFT launch
As for his recent NFT adventure, not all of Trump’s supporters are on board. Keith and Kevin Hodge, stand-up comedians and vocal Trump fans, posted on Twitter that “whoever told Trump to do this should be fired.” In another post, they said: Meanwhile, the reselling of Trump Digital Trading Cards continues, surpassing 7,092 ETH in volume on the NFT trading platform OpenSea, currently worth around $6.63 million, taking into account the price of Ethereum at the time of publication. Interestingly, all the proceeds from the sales will not be directed to Trump’s 2024 campaign but instead will go to the former president himself under a licensing deal, over which some of his aides voiced concern, The New York Times’s Michael C. Bender and Maggie Haberman reported. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
