Last week, Donald Trump launched his own NFT collection. Every NFT features him as a superhero, and despite the bear market, the series sold out in one day. Funny thing is that he kept a bunch of tokens for himself.
Many Trump NFTs are from Trump himself
As we are used to from most ranges of Non-Fungible Tokens (NFTs) there was only a limited number, 45,000 to be exact. They changed hands for $99. The former president of the United States called it an ideal Christmas gift, and they also sold out after a day.
There was also a lot of criticism of the project. Many people thought the cards were very ugly even by NFT standards. You do get access to a Trump gala with 45 copies.
Trump seems to be very proud of his collection. He has actually minted 1,000 of the 45,000 NFTs for himself in ten different trades, according to Twitter user @NFTherder. He didn’t pay the $99 for this, the tokens are free in the vault wallet set to OpenSea.
He has also been quite picky, because the NFTs have a certain rarity. There are only 45,000 tokens in total, but some tokens only have one. Trump’s wallet contains 26% of these tokens, and 28% of NFTs with a signature – his own. Only 0.4% of all tokens are completely unique, and only 0.16% have a signature. It therefore creates extra scarcity.
1/ Turns out Donald Trump minted a thousand of his own nfts to his vault wallet
Keeping a giant portion of the most rare nfts in his collection for himself
The 2nd minted nft was a rare 1-of-1, the chances … pic.twitter.com/3m0MQGQydp
— OKHotshot (@NFTherder) December 17, 2022
Trump not a long time fan of crypto
Ironically, the tickets are coming out now that the market for NFTs is in quite a bit of a slump. A year ago, Trump was also well aware of cryptocurrencies, but then he considered them “very dangerous”. He expected an ‘explosion’, which seemed to mean the collapse of the bubble. For example, he compared the market to the Dot.com bubble (the internet bubble that burst in the year 2000).
It is possible that he may well be right. Last August we wrote that the market may still be in a bubble, but unfortunately you never know for sure whether the bottom has already been.