On Wednesday, Donald Trump announced a "big announcement" on his Truth social media channel. A day later, the 45th president of the United States announced that he would start selling "limited edition cards displaying fantastic ART of my Life & Career," claiming they would be "very much like baseball cards, but hopefully far more interesting."
The 76-year-old former leader is shown on the scorecards in a boxing ring, getting ready to wrestle, as a race car driver, an astronaut, and on a football field. Each card bears his presidential number, which is 45.
Donald Trump NFT
His non-fungible tokens (NFTs) were being offered on the Opensea marketplace, which could be accessed via a unique website made for the sale. The website stated on Friday that there were no longer any cards available.
There were 45,000 NFTs for sale at a price of US$99 each. The image itself, however, can be widely duplicated and shared online by anyone, unlike other NFTs. Ownership of the specific digital Trump card remains with the buyer. Despite the fact that the launch was limited in terms of the availability of NFTs
What exactly are Donald Trump's digital trading cards?
One of the first things to note about Trump's announcements is that he never used the words "NFT." All of the languages on the website are centered on "Digital Trading Cards".
Donald Trump's collection of 45,000 digital trading cards includes pictures of him on each one. Like many NFT collections, the photographs have some characteristics in common.
So who benefits from the Trump NFTs?
A cool $4.45 million is made when 45,000 NFTs are sold for $99 apiece. But if it's not the Trump Organization, then who is taking the money?
All revenues are paid to NFT INT LLC. Additionally, 10% of each sale of a Donald Trump Digital Trading Card goes to the company.
Donald Trump's NFT collection's objective
Other interesting facts surround the Trump NFT collection. First of all, the NFT collection is an authorized source of campaign finance, despite plausible supposition to the contrary.
Second, despite the fact that Donald Trump is the subject of this NFT collection and he probably had some role in its creation and development, obtaining the name's trademark is a crucial part of the Trump company's commercial plan. In this case, the right to use the Trump name belongs to NFT INT LLC, a company that is not controlled by Trump.
Even though Donald Trump may not directly profit from the NFT sales and that cash may not end up in his campaign account, he did a fantastic job of associating his brand with the project.
Trump's NFTs help to stabilize the volatile market.
The Donald Trump Digital Trading Card NFT collection has no doubt captured the attention of users all across the world. It's not apparent if NFT traders and investors made up the majority of buyers. The fact that any NFT collection might sell out in less than a day is still astounding.
*Article Photo Credits to: Yuri Gripas/AP Images (White House in Washington on January 6, 2021)*