Thought Trump’s historical arrest and incriminated 34 felony charges in early April would stop him from releasing more NFTs? Well, no way. After we had a good laugh about the first series in December 2022 and watched the NFT prices go up and down since then, Trump launched a new cringeworthy collection of cards bearing his own visage photoshopped onto various unlikely bodies.
To celebrate being let back onto Instagram after his ban in 2021, Trump used his first posts to announce a second series of what, with trademark modesty, he describes as "the greatest trading card in history" featuring "incredible artwork of me".
This series consists of 47,000 NFTs minted on Polygon, an Ethereum sidechain network, with 1,000 of the NFTs held back by the developer. Each sells for $99, as with the original December 2022 drop, with some cards featuring Trump’s digital signature. Anyone who purchases 47 of the NFT trading cards will apparently receive a ticket to a gala dinner with Trump at his Mar-a-Lago golf club in Florida.
The collection sold out in less than a day, although you can buy posters, mugs and blankets featuring some of the designs. Investors in Trump's first drop might not be too impressed though. The value of the first series of NFT's, which is estimated to have made Trump up to $1 million, has fallen as a result of the new release. At the time of writing, the monthly NFT sales have dropped by 25%, according to Cryptoslam data.
According to filings with the US Office of Government Ethics, former President Donald Trump earned between $500,000 and $1 million through the sale of his NFTs. One could assume that Trump is saving money for the 2024 presidential election campaign. However, Trump’s personal profit from the NFTs is not clear as neither the ex-president, a political action committee (PAC) nor his campaign is directly involved with designing or minting the NFTs. That’s done by a firm called NFT INC LLC, which has a registered address at a UPS Store in Park City, Utah. We are not political investigators, so enough with digging.
The feeling is that Trump has more to show us, so we continue to observe and will keep you posted. In the meantime, drop us a line in the comments, if there is a card from the second batch you particularly like.
