Former United States President Donald Trump continues to expand his presence in the world of cryptocurrencies with the launch of three collections of non-fungible tokens (NFTs), the most recent of which is called “The MugShot Edition,” which art on the Bitcoin network.
This will be the first time a Trump-branded NFT will be registered on the Ordinal protocol, a way to write unique data, such as art and collectibles, directly onto the Bitcoin blockchain, using satoshis – the smallest part of cryptocurrency.
Trump’s continued exploration of NFTs coincides with his push for Republican leadership and his recent commitment to oppose the creation of the digital dollar.
Trump’s strategic involvement in NFTs introduces a unique dimension to the 2024 election race as he explores ways to connect with voters.
TRUMP DIGITAL TRADING CARDS on BITCOIN ORDINALS 🟧 The FIRST EVER Trump Trading Cards on Bitcoin. Read this thread ⬇️
— CollectTrumpCards (@CollectTrump) January 18, 2024
Trump will sell NFTs on the Bitcoin network
According to a statement on the project’s official website, only 200 of these special “Trump Digital Trading Cards: MugShot Edition” NFTs will be made, with only 99 left for sale.
Details on how to claim NFTs on the Bitcoin network will be provided at a later date, with the process managed through the Magic Eden platform.
The initiative is interesting given the former president’s ambiguous relationship with Bitcoin, expressed in a 2019 tweet in which Trump stated he was not a fan of cryptocurrencies.
NFT collections were minted on the Polygon network and offered for sale in Ethereum or via credit card. The first two collections referenced Trump’s legacy as the 45th US president and his potential bid to become the 47th president in the 2024 election. Each NFT sold for $99.
Additionally, those who purchase a significant number of NFTs will have the opportunity to attend a gala dinner with the former president at his Mar-a-Lago resort.
Collectively, these moves highlight an innovative marketing approach that leverages symbolic value and exclusivity, and could influence demand and prices in the digital collectibles market.
The terms state that the new “Trump Digital Trading Cards: MugShot Edition” will not be transferable until December 31, 2024, which may impact demand for the third set.
The first collection showed volatility relative to events in Trump’s political career, with base price increases following his progress toward the 2024 Republican nomination.
Currently, the NFTs in the first collection have a base price of about 0.315 Ethereum, or about $766, while the second collection is valued at about 0.0412 ETH, or about $100.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
