Donald Trump’s NFT collection sells out in just one day, netting him $5 million
Published on Dec 20, 2022 at 1:10 PM (UTC+4)
by Alessandro Renesis
Last updated on Dec 20, 2022 at 1:25 PM (UTC+4)
Edited by
Kate Bain
Former US President Donald Trump’s NFT collection sold out in less than a day, raising more than $5 million.
Trump announced his NFT collection just a couple of days ago and as you’d expect, people had opinions.
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In each NFT from the collection, Donald Trump’s face is attached to a different body.
You’ve got astronaut Trump, cowboy Trump, Nascar driver Trump.
And then of course you have superhero Trump.
Knowing Trump, it’s entirely possible he actually created these NFTs unironically.
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And there’s more.
Every person who buys at least 45 Donald Trump NFTs will get a ticket to a dinner with the former president.
The NFT collection is believed to be part of Donald Trump’s upcoming presidential campaign.
Not that long ago, Trump announced he was formally entering the 2024 presidential race.
Following the release of the trading cards, people have taken to Twitter in droves to share their opinion.
Altcoin Daily, a crypto news channel, pointed out that just two years ago, Trump was blasting crypto, calling it ‘dangerous’.
Well, apparently he’s changed his mind.
Many slammed Trump for the timing, because the NFT market is not exactly hot at the moment.
However, the former president had the last laugh because his NFTs sold out in a matter of hours.
And that’s not even the end of the story because some Trump NFTs are already trading at a premium.
The one you see pictured below, for example, just resold for 20 Ethereum – about $24,000.
Not bad considering the seller only paid $99 for it.
About NFTs
NFT stands for Non-Fungible Token.
In short, an NFT is a unique digital asset that can’t be duplicated or altered.
During the 2021 crypto bull run, NFTs became hugely popular and expensive.
However, due to the ongoing 2022 crypto bear market, many have become virtually worthless.
Some people simply call them ‘overpriced JPEGs’, while others believe there may be value beyond the hype.
This is because anything can be turned into NFTs, not just images.
For example, music artists could turn their records into NFTs.
This would help them safeguard their authenticity and combat piracy.
NFTs can also be used for web domains, IDs and certificate of authenticity for physical goods.
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