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A subsequent collection of nonfungible tokens (NFTs) featuring the name and likeness of former United States President Donald Trump sold out on April 19, just one day after its debut.
This collection included 47,000 Trump digital collectibles, each priced at $99, generating over $4.65 million in revenue. On the secondary marketplace OpenSea, the “Trump Digital Trading Cards Series 2” collection has achieved a trading volume of 750 Ether (ETH).
The Trump NFTs leverage the former president’s “name, likeness, and image” through a paid licensing agreement and are not owned, governed, or overseen by Donald J. Trump or The Trump Organization. Buyers are guaranteed one ticket to attend a Gala Dinner with Trump in South Florida if they acquire 47 Digital Trading Cards or purchase 100 cards using cryptocurrency.
The FAQ section of the website presenting the NFT series states:
“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.”
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The NFTs could be purchased using credit cards or Wrapped Ether (wETH), and customers had the option to create a wallet with Torus at checkout if they did not already possess one to receive the NFT. Additionally, users were required to complete Know Your Customer verification even when paying with cryptocurrency to obtain the collectibles.
A Trump Series 2 NFT. Source: OpenSea
Moreover, the NFTs are minted on the Polygon blockchain and crafted by artist Clark Mitchell. Developers assert that 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 grand jury in Manhattan indicted the former U.S. President on more than 30 counts related to alleged business fraud. Following this, the price of Trump’s Series 1 NFTs, launched in December 2022, rose significantly above its initial floor price. The former president is seeking a non-consecutive second term in the 2024 elections.
Magazine: Nonfungible Tokens (NFT) — Quick Guide
