Now that Donald Trump has an NFT collection, cryptocurrency Twitter is in shock
In the closing weeks of 2022, Trump announced on his social media platform Truth Social that he would be making a significant statement on December 15. All of Trump’s fans conjectured that the announcement Trump was teasing had to be significant. Scott Adams, the author of the Dilbert comics, speculated that since Trump has already declared his intention to run for president in 2024, the major reveal might involve the selection of his running mate. Surprise! On December 15th, Trump revealed an NFT line dubbed Trump Digital Trading Cards.
Today, Donald Trump unveiled a line of NFT trading cards that promise buyers tangible advantages, such as an invitation to a gala dinner with Trump or even a chance to meet and greet with him in person. And the news has both NFT fans and Trump backers scratching their heads. On Thursday, Trump posted a link to the Collect Trump Cards campaign on his official Truth Social account. According to the post, the digital trading cards will cost $99 each and entitle buyers to enter sweepstakes to win various benefits. The cards were created on the Ethereum sidechain network Polygon. Each card has a drawing of Trump, who is occasionally transformed into a superhero, cowboy, or astronaut.
The 45,000 NFT pieces in the Trump card collection include poorly photoshopped images of the former president as a superhero, a professional football player, riding an elephant, and much more. If someone purchases 45 NFTs, that’s $4,500 worth of NFTs, they get a guaranteed ticket to a Trump gala event in Florida, along with the chance to win prizes like a dinner with Trump, a group Zoom chat with Trump, or “autographed memorabilia.” The Trump NFT collection is priced at $99 for each card.
In actuality, the former president resigned from office in disgrace after inciting the attack on the US Capitol on January 6, 2021, and has since been the subject of inquiries into both his involvement in the incidents and allegations of fraud at his firms. Like a baseball card, but perhaps even more interesting, “Collect all of your favorite Trump Digital Trading Cards,” he wrote today. “Would be a wonderful Christmas present. Stop waiting. I think they’ll be gone very fast”, he wrote.
Crypto investor LilMoonLambo posted, “Donald Trump is launching his NFT collection.” “Sell all of it. A bear market prevailed.” Even some conservatives think the launch was a failure. “Love the guy but this puts many off,” commented filmmaker and former Republican congressional candidate Robby Starbuck. Others cited Trump’s earlier opposition to cryptocurrencies. A flip-flop for the former president, his NFT cards are printed on a blockchain network and can be bought with cryptocurrency.
After a string of unpleasant but predicted occurrences, including as the demise of the supposedly stablecoin Terra, the insolvency of a significant cryptocurrency exchange like FTX, and the failure of other crypto lenders like Celsius, “Crypto winter” is now fully underway. It appears that the market as a whole is basically in chaos. Naturally, all of this market uncertainty has also affected non-fungible tokens or NFTs. For instance, Bored Ape Yacht Club, the largest NFT brand, is currently trading at a discount of 80% from its peak value just eight months ago. However, NFTs are also being harmed by other factors. The idea of tokenizing everything on the blockchain, thereby turning their favorite businesses and hobbies into speculative commodities, has drawn considerable opposition from many online communities.