Former President and Republican nominee for this year’s presidential elections, Donald Trump, is gearing up to launch his fourth non-fungible token collection.
What Happened: Trump revealed in an interview with Bloomberg Businessweek that his previous NFT collections were a success, selling out 45,000 cards each time. The decision to release another collection is driven by its high demand.
“I’m going to do another one, because the people want me to do another one,” the presidential hopeful said. “But the thing I really noticed was everything was paid in—I would say almost all of it was paid in crypto, in this new currency. And it opened my eyes.”
Trump released his first NFT collection, Trump Digital Trading Cards, in late 2022. The project used Trump’s name, image, and likeness to distribute 45,000 NFTs priced at $99 each. Trump earned royalties on the initial sale as well as a small portion of the trading volumes on the secondary market.
See Also: Why BlackRock’s Larry Fink Believes ‘Everyone’ Should Take Another Look At Bitcoin
Despite his initial skepticism towards cryptocurrencies, Trump has now embraced the industry. He stated that, “if we don’t do it, China is going to pick it up and China’s going to have it.”
Why It Matters: Trump’s increasing affinity with the asset class was evident when he pledged to retain cryptocurrency firms within the U.S. during an NFT event at his Mar-a-Lago residence in May.
The potential of a pro-cryptocurrency presidential ticket featuring Trump and his running mate, Senator J.D. Vance (R-Ohio), has stirred the market. Todd Gordon, founder of Inside Edge Capital, even predicted that Bitcoin could surpass the $100,000 mark this year.
Price Action: At the time of writing, the floor price of the first series of Trump NFTs was $381.27, up 0.91% in the last 24 hours, according to Magic Eden. Trump-inspired Maga Coin (CRYPTO: TRUMP) is priced at $7.85, down 5.52% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
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