Donald Trump’s fourth NFT collection is either doing great or terribly one day after debuting. It just on depends how you look at it.
It is no small feat that the collection of digital trading cards—which features the former president in a plethora of fantastical poses and costumes—has managed to rake in over $2 million worth of sales since Tuesday’s debut in a weakened NFT market.
CryptoPunks, the most valuable and prestigious NFT collection by a country mile, did less than half of that volume in the last 24 hours ($754,000, according to NFT Price Floor).
But considering the enormous size of the collection, relatively few people have opted to buy into Trump’s latest crypto gambit at this point. Only about 20,700 of the “America First Edition” digital cards have been minted on Ethereum scaling network Polygon, out of a potential 360,000.
Trump Releases Yet Another NFT Collection—This One Shows Him ‘Holding Some Bitcoins’ and Dancing
Donald Trump’s recent evolution into the “crypto president” in this year’s election is being marked with a fourth series of NFT trading cards, the Republican candidate announced Tuesday. It includes artwork depicting Trump “dancing and even holding some Bitcoins,” he said in a promotional video shared to social media. The “America First Edition” set of Trump Digital Trading cards includes NFTs again minted on Ethereum scaling network Polygon and selling for $99 apiece. And this time around, ther…
3 min read
Andrew HaywardAug 27, 2024
For most, if not all NFT collections, selling only 5.7% of your total supply after a day or so would all but certainly be considered a pretty dismal failure.
When Trump initially came on the NFT scene, his first two collections sold out rapidly. They were far smaller, though, consisting of 44,000 and 46,000 NFTs, respectively. Then the Republican presidential nominee—or at least the company licensed to use his imagery—opted to go bigger last December, offering up 100,000 NFTs in his third collection. Only about half of them sold.
If Trump eventually sells out his latest NFT project, the project will ultimately rake in $35.6 million, at $99 per trading card. While the project’s actual haul is (as of yet) substantially lower, though, it’s certainly not chump change.
Donald Trump and Bitcoin: From ‘Not a Fan’ to Crypto Candidate
Former president Donald Trump is vying to be America’s leader again—and this time around, he’s Bitcoin-friendly. “We want all remaining Bitcoin to be made in the USA,” he said last month on his social media platform Truth Social. Trump has now branded himself as a crypto-friendly candidate ahead of November’s divisive election, bringing in millions of dollars in cash and digital asset donations from Silicon Valley tech leaders. But it wasn’t always like this. Despite the Republican presidentia…
6 min read
Mat Di SalvoJul 19, 2024
Those funds will not be used to finance the entrepreneur’s presidential campaign, according to the project website. But they may be spent to fulfill the various bonus perks offered to NFT buyers, such as attendance at a gala dinner with Trump, golden Trump-branded sneakers, and a piece of the suit Trump wore during his recent debate with President Joe Biden.
This latest batch of Trump NFTs can also not be resold on secondary marketplaces until January 31, 2025, echoing a similar limitation placed on the last collection.
OpenSea Expecting SEC Lawsuit Over NFTs Being Securities, Says CEO
Prominent NFT marketplace OpenSea is expecting a lawsuit from the United States Securities and Exchange Commission (SEC), co-founder and CEO Devin Finzer said Wednesday, due to what he said is scrutiny over whether NFTs should be considered securities. “OpenSea has received a Wells Notice from the SEC threatening to sue us because they believe NFTs on our platform are securities,” Finzer tweeted. “We’re shocked the SEC would make such a sweeping move against creators and artists. But we’re ready…
4 min read
Andrew Hayward, Sander LutzAug 28, 2024
That caution may not have been misguided. On Wednesday, the popular NFT marketplace OpenSea—on which Trump’s new collection is currently listed—revealed that it recently received a Wells Notice from the U.S. Securities and Exchange Commission (SEC).
This means, in the words of company co-founder and CEO Devin Finzer, that the agency plans to sue “because they believe NFTs on our platform are securities.”
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