December 20, 2022
By Sharan Kaur Phillora
All 45,000 Donald Trump Trading Card NFTs sold in 12 hours, and people have spent millions trading them on the secondary market, OpenSea.
Here’s what we know:
Donald Trump once said in 2019 that he was not a fan of bitcoin (BTC), and today the former president has leveraged blockchain technology to release his NFT trading cards.
“My official Donald Trump Digital Trading Card collection is here!” he posted Thursday. Trump never used the abbreviation “NFT” in the post, but that’s what the “digital trading cards” are: 45,000 NFTs on the Polygon blockchain, priced at $99 each.
Though the NFTs were widely mocked by Trump supporters and detractors alike, all 45,000 sold out in around 12 hours, according to OpenSea data. At $99 each, that means $4.45 million has been raised. The collection’s creators also receive 10% of every sale on secondary markets like OpenSea. Thus far, traders have spent $5.2 million (4,442 ether) trading the cards on OpenSea, netting creators an extra $520,000.
Stats from cryptoslam.io show Trump’s collection is the second-largest in sales behind Bored Ape Yacht Club (BAYC).
One user owns approximately 1,000 Trump NFT cards and is the largest holder of the entire collection. Some people have claimed the unknown Trump NFT owner with 1,000 cards is Donald Trump himself. Thus far, 202 people have more than 45 of the NFTs in their digital wallet, according to Dune data.
NFT INT, the company behind the collection, says on its site that the money raised won’t be funneled into Trump’s 2024 presidential campaign. A blurb on its site states that NFT INT is not owned by Trump or any of his organizations and that Trump himself isn’t actually behind the collection. Instead, Trump licensed his name, image, and likeness for the project.
Trump described the art as “very much like a baseball card, but hopefully much more exciting.”
Buying a Trump NFT enters you into a raffle to win several prizes, including a one-on-one meeting with Trump at Mar-a-Lago. Those who purchase over 45 of the cards automatically get to meet the former president at a gala dinner in Florida.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
