While beanie babies may represent the poster child for failed collectibles among some people, they can't mask the fact that some still cost up to $10K each. What about digital collectibles such as NFT collections, which have strong third-party markets where the rarest can go for millions of dollars? This article interrogates Trump NFT collections, what they are, and the issues surrounding them.
Related: The SEC vs. NFTs: What You Need to Know
What is Trump's NFT Collection?
Donald Trump's NFTs debuted in January 2021, and the former president of the United States (POTUS) is reported to have made between $100,001 and $1 million in income selling the digital collectibles. The cards, divided into standard and limited editions, were initially available at $99 each or to the highest bidder via auction.
Regardless of the controversies surrounding them, the Trump digital collectibles attracted significant interest from enthusiasts. According to the records, users bought over 44,000 NFTs within hours of the launch. The Trump NFT investments resemble your traditional trading card collection. Similar to Pokemon, football, or baseball cards, the Trump NFT value comes from the fact that users collect and trade them. However, each card maintains its unique identifiable mark that certifies its ownership.
While some buyers equate acquisition as a unique chance to own a piece of political history, others were attracted by the potential for financial gain associated with owning limited edition cards. Anyone interested in the original Trump NFT art would need to purchase them at secondary marketplaces like OpenSea NFT marketplace at slightly different prices from the initial price.
More: How to Monetize Your Digital Art with NFTs. Guide
Since December 2022, Trump Digital Trading Cards has sent out hundreds of sweepstake prizes in Trump memorabilia (signed and not signed), hosted an intimate group zoom call with President Trump and collectors, hosted Two Gala Dinners at Mar-a-Lago with President Trump, hosted two…
— CollectTrumpCards (@CollectTrump) May 31, 2024
The First Trump NFT Collection
When the businessman-turned-politician launched the "Trump digital trading cards" via a widely hyped announcement, he was showcased in a video with an animated image of him dressed like a superhero, shooting laser beams from his eyes. The former POTUS described the Trump NFT art as a portrayal of his life and career as a race car driver, retired astronaut, superhero, cowboy, and former president.
According to collectTrumpCards.com, the original Trump NFT series featured unique designs, but some are available in editions of up to 20.
The initial Trump NFT series featured cards with images of the former POTUS, depicting him as a king-of-hearts playing cards, having a heart sign, and wielding a sword, among other things. Divided into standard and limited edition cards, the original Trump NFT themes were available for $99 each. Alternatively, purchasers could make them available to the highest bidder through auction. The initial successful Trump NFT sales that were sold out involved the limited-edition cards that were made available on the Polygon blockchain.
Overview and Themes of the Second NFT Collection
The success of the initial wave of cards created a dynamic Trump NFT market with more cards portraying the now aspiring president in numerous artistic depictions. This led to the launch in October 2023 of the second Trump NFT series featuring 47,000 non-fungible tokens retailing at an initial price of $99. The Series 2 collection featured different rarity characteristics, artwork, and valuable features. Moreover, the offering included an opportunity for buyers of 47 tokens to enjoy a dinner with the former POTUS at his Mar-a-Lago resort in Florida.
According to data from the OpenSea NFT marketplace, the second collection experienced a 350% spike in the first 24 hours, resulting in at least 54 transactions. The surge in sales coincided with the launch of Melania Trump's NFTs, dubbed "The 1776 collection." Ultimately, the second Trump NFT success failed to replicate the level of success observed with the first series.
Overview and Themes of the Third NFT Collection
Trending Trump NFT news last December showed a man ready to digitize every momentous situation – the former president converted a recent legal challenge into a minting venture. The third batch of the growing series of Trump NFT collections was christened the "Mugshot Edition." The collection offered buyers an opportunity to own a portion of the suit he wore when he got arrested on August 24, 2023, in Fulton County, Georgia – that's the day the renowned Mugshot was captured.
The Series 3 promotional video showed the former president highlighting the features of the digital trading cards, entailing his suit's journey from the controversial event to becoming a unique digital collectible. CollectTrumpCards.com announced that at least 100,000 mugshot trading cards would be available for $99 each.
Remarkably, anyone who bought 47 or more cards in a single transaction would be offered one of 2024 limited-edition physical cards. Moreover, the first 200 people who purchased 100 cards using cryptocurrency would also receive a rare NFT, two tickets to attend a cocktail reception with the former POTUS, and, after that, a dinner at Mar-a-Lago. Additionally, they would receive a physical card containing pieces of his suit and tie and two "Commemorative Dinner" Cards.
Is the Fourth Edition on the Cards?
With crypto-centric venture capitalists Ben Horowitz, Marc Andreessen, and Elon Musk enlisting as supporters for his next shot at the upcoming 2024 U.S. presidential election, Donald Trump announced on July 16 during an interview with Bloomberg he would launch a fourth Trump NFT series.
There is speculation that Trump's NFT value could be gained from his continuous pro-crypto stand and assertion of the significance of U.S. leadership within the crypto space to enable the nation to remain a leader in the developing crypto field. While reflecting on the success of the latest Mugshot collection, which had themes relating to his ongoing criminal indictment, Trump told Bloomberg:
I'm going to do another one because the people want me to do another one.
The new “America First Edition” set, minted on Ethereum's Polygon network, boasts an impressive potential total of 360,000 NFTs, each priced at $99, was first launched on August, 27. This collection far exceeds the size of previous sets, with the earlier three having sold between 44,000 and 50,000 cards. Buyers of this latest release will have a chance to acquire unique perks, including access to a Trump gala dinner and an authenticated piece of the suit from his debate with President Joe Biden. The new cards won’t be available for resale until January 31, 2025, and the proceeds from the sales will not contribute to Trump’s presidential campaign.
President Trump announces his NEW Digital Trading Cards- America First. Buy just 15 cards and get a piece of his “KNOCKOUT” Debate Suit. Buy just 75 cards or more and have a Gala Dinner with the President!
— CollectTrumpCards (@CollectTrump) August 27, 2024
Don't Miss Out! https://t.co/vrpHbxyrFG pic.twitter.com/TUYFLLD76f
What to Add?
The obsession with purchasing Trump digital collectibles is tied to the fact that he can become the 47th U.S. president if elected later this year. As a result, the potential for the Trump NFT's future success is tied to complex political intrigues, making it an exciting way to make a digital investment.
More: MugShot NFTs: Inside Trump's NFT World and $4,653 Dinner Delights
While it's impossible to predict whether Trump's NFT value will increase or decrease based on the outcome of the forthcoming U.S. presidential elections, his decision to return to active politics has influenced the digital asset price.
HODL Team
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