New Trump NFTs sell out on day one
A second collection of nonfungible tokens (NFTs) licensing the name and image of former United States President Donald Trump sold out on April 19, one day after its initial launch.
The collection featured 47,000 Trump digital collectibles priced at $99 each, netting over $4.65 million. On the secondary market OpenSea, the “Trump Digital Trading Cards Series 2” collection has since reached 750 Ether (ETH) in trading volume.
The Trump NFTs utilize the former president’s “name, likeness, and image” under a paid license and are not owned, managed or controlled by either Donald J. Trump or The Trump Organization. Individuals are promised one ticket to attend the Gala Dinner with Trump in South Florida if they purchase 47 Digital Trading Cards or buy 100 cards with crypto.
According to the FAQ section of website introducing the NFT series:
“These are personal digital collectibles or ‘trading cards’ that you can collect, accumulate, trade, etc. Think of them like traditional baseball or basketball cards but stored digitally so you never have to worry about physical damage.”
The NFTs were available for purchase via credit card or Wrapped Ether (wETH), and users could create a wallet with Torus at checkout if they didn’t already have one to receive the NFT. In addition, users were required to pass Know Your Customer verification even if they paid with crypto to receive the collectibles.
Furthermore, the NFTs are minted on the Polygon blockchain and designed by artist Clark Mitchell. Developers claim each Autographed Card is digitally hand-signed by the former president.
“These Digital Trading Cards are not political and have nothing to do with any political campaign.”
On March 31, a Manhattan grand jury indicted the former U.S. President on over 30 charges related to alleged business fraud. Since then, the price of Trump’s Series 1 NFTs, released in December 2022, surged well above its initial floor price. The former president is campaigning for a non-consecutive second term in the 2024 elections.
Magazine: Nonfungible Tokens (NFT) — Quick Guide
