By George Ward
The former president of the United States, Donald Trump, has always been a highly controversial figure thanks to his bizarre take on several issues. Hence, he has become the object of jokes among international media platforms.
However, the former president no longer wants to be the subject of funny content among media houses. Instead, he is out to create his funny content through digital collectibles.
Trump’s NFT launch
The NFT community on December 14 witnessed the launch of Donald Trump NFT Cards after the former president unveiled his digital collectible project.
Announcing the launch of his NFT project on the social platform Truth Social, the former president of the United States released a series of digital collections, which include 45,000 digital works of art.
Furthermore, the superhero collection was the most attractive to the NFT community of all the avatars on display. The superhero NFT shows the former president as broad-chested and wearing outfits to depict him as the next James Bond.
The selling price for the Polygon-based NFT starts at $99 per piece. However, buyers would enjoy exclusive perks like having a one-on-one dinner with the former president, playing golf, and having a zoom call.
Despite the added benefit of meeting Trump, the new NFT collection has yet to record a sales boom in the digital art community compared to previously released digital collections by prominent figures. In addition, others wonder what benefits users will derive after shelling out $99 for an NFT they consider low quality.
There are roughly 35,600 Trump-related NFT collections on the OpenSea NFT marketplace available for secondary sales at a trading floor price of $82. The NFT community is still wondering why Trump is releasing these NFT collections, considering his controversial personality and stance against cryptocurrency and NFT.
A Crypto Critic Turns Crypto Advocate
In a Twitter post on July 19, 2019, the former president, then an occupant at the White House, disclosed that he does not support Bitcoin or another cryptocurrency as their volatility doesn’t make them suitable alternatives to the fiats.
Responding to the change of events, Changpeng Zhao, the CEO of Binance, tweeted, “we are getting there.” An apparent reference that another crypto critic has become a crypto advocate.
Despite enjoying the support of his fan base during his time as president of the United States, many weren’t sure launching an NFT was the next logical step for Trump.
On-chain data shows that the overall evaluation of the NFT market has dropped by nearly 90%, declining from $23 billion to $2.3 billion. In addition, various on-chain data also revealed that the NFT market cap has further dipped by 8%.
Experts believe the new Trump NFT collections will do little to kickstart another price revival for the digital collectible industry. Others see it as an unwise move to launch a project amid a market downturn.
As the NFT market continues to record below-par trading volume, Trump’s NFT launch may have come at the wrong time.