What's In Your Wallet
Trump, US’ Former President Sells NFT Trading Cards
The website that was selling digital trading cards depicting former President of the United States Donald Trump in various guises, such as a superhero, an astronaut, and a Nascar driver, has reported that all of the items have been purchased.
Late in the day on Thursday, Mr. Trump marketed the “limited edition cards” by adding that purchasing one would “make a fantastic Christmas gift.”
According to OpenSea, which monitors these types of deals, there were 45,000 of the cards, and each one could be purchased for $99.
The news was met with derision and ridicule, even coming from Republican lawmakers.
Steve Bannon, a media analyst on the right and a former senior strategist for Donald Trump, said on his podcast on the sale, “I can’t do this anymore.” Bannon was referring to the sale of his company.
He went on to say that everyone who was involved in the initiative “needs to be fired today.”
Mr. Trump, who kicked up his third run for the White House last month, stoked rumors this week by stating that he will soon make a “big announcement.” This prompted others to speculate about what the news may be.
Commentators were surprised when he did not announce a vice presidential candidate to run alongside him in his presidential campaign.
Instead, the billionaire posted a promotional video for the cards on his social media platform called Truth Social. Even before he became president, he routinely licensed his name for a variety of products, including greeting cards.
The video showed an animated image of the former president standing in front of the Trump Tower in New York. He ripped away his shirt to reveal a superhero outfit with the letter T imprinted on it, and lasers shot out of his eyes at the same time.
In a later post on Truth Social, Donald Trump described the non-fungible tokens, also known as NFTs, as being “very much like a baseball card, but hopefully far more entertaining.”
The “one-of-a-kind” assets that exist in the digital world are able to be purchased and sold just like any other piece of property, despite the fact that they do not have a physical form of their own.
One way to think of them is as ownership certificates for assets, whether those assets be virtual or tangible.
NFTs are being hailed as the “digital response to collectibles” by their proponents, but detractors are sounding the alarm about potential dangers in the market. This market evolved from the larger world of bitcoin. Along with the decline in the value of cryptocurrencies, there has been less activity within the sector this year.
This year, a report that was prepared for the United States Congress indicated that non-traditional financial transaction sales have been used to acquire credit cards and other financial information, as well as the target of other types of fraud.
MOVE MOCKED
Mr. Trump has raised millions of dollars in the time since he lost the election in 2020, and he regularly sends out calls to gather money for his campaign. On Friday, he sent out an appeal that was related to holiday wrapping paper.
Some people on social media held the opinion that the sale of NFTs was done in order to assist in funding the legal fights that he is currently engaged in.
According to the website for the NFTs, the monies would not be used for his effort to become president of the United States.
According to what was written there, “These Digital Trading Cards are not political, nor do they have anything to do with any political campaign.”
It was also stated that Donald J. Trump, The Trump Organization, CIC Digital LLC, or any of their respective principals or affiliates do not own, manage, or control NFT INT LLC.
The Trump family has considered the possibility of selling NFTs in the past. Bloomberg reported in February that a person associated with the artist who created the image of Melania Trump had purchased artwork depicting her after it had been auctioned off for a price equivalent to approximately $180,000 at the time.
When asked about the deal at the time, Ms. Trump stated that it had been “facilitated on behalf of a third-party buyer.”
For More NFT Related News, Click Here.
You must be logged in to post a comment Login