Key points:
- Donald Trump announced the launch of his very own NFT collection on Truth Social.
- However, the NFTs are owned by NFT INT LLC; a company that is not owned by the former president.
- Trump’s NFTs hit the market just 11 months after Meliana Trump released her digital art collection in January.
Love him or hate him, but you just cannot ignore him. The former U.S. president has announced the launch of his NFT collection on Truth Social. He said, “I’m doing my first official Donald J. Trump NFT collection right here and right now, they’re called Trump digital trading cards.” He further added that these limited edition ART cards showcase his illustrious career and life.
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Trump’s NFT announcement – a shock or a pleasant surprise?
Trump has released his own NFT collection, and it has sent the NFT world all over the place. Many people expected him to announce the name of a running mate for his presidential campaign, but Trump did the unexpected again.
The former president released a clip which featured an animated version of Trump, standing in front of the Trump Tower in New York. The character then opens his shirt to show a superhero costume with the letter T in the centre.
Trump, on Truth Social, said that his NFTs are like the collectable baseball cards but potentially far more “entertaining”. He further added that the cards cost $99 each and would make an amazing Christmas gift.
Additionally, buyers will enter a raffle with a chance to win prizes like a gala dinner or a round of golf with Mr Trump.
Following the announcement, Trump has received a fair share of criticism from social media users. A lot of prominent Republicans have also voiced their opinion, suggesting that people involved in this project should be fired immediately.
Why did Trump launch his very-own NFT collection?
There has been significant speculation around the sale of Trump’s NFTs. A few commentators say that the sale of NFTs would generate revenue to fund all legal battles Trump is caught in. NFT INT LLC’s website clearly states that it will not spend the revenues generated through the sale of Trump’s NFT for his presidential campaign.
The statement read, “These Digital Trading Cards are not political and have no connection to any political campaign.”
Understanding NFTs
Many consider NFTs as the digital equivalent of collectables. However, many critics have also raised concerns regarding the potential risks of buying or selling NFTs.
Although they lack a physical form of their own, “one-of-a-kind” assets in the digital world can be bought and sold like any other item of property. We can compare them to ownership certificates for tangible or digital assets.
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Feature Image Source: Photo by History in HD on Unsplash
