Former U.S. President Donald Trump has stirred the non-fungible token (NFT) market with the announcement of a new $99 NFT collection, aptly named the “Mugshot Edition.”
This collection is a clear nod to his recent legal challenges and has significantly impacted the prices of NFTs previously issued by him.
Purchasers of 47 or more Trump cards will have the opportunity to dine with the former President at his Mar-a-Lago resort.
Watch This Video: Don't Miss Out! pic.twitter.com/vunSPlEY6Z
— CollectTrumpCards (@CollectTrump) December 12, 2023
This number is a symbolic reference, as Trump would become the 47th U.S. president if elected next year. Additionally, these buyers will receive a piece of the suit worn by Trump in his mugshot when he was arrested in August.
“In this Edition, some cards will even be one-of-ones (the only one in the world), while some others could even be hand-signed by President Donald J. Trump.”The project’s website elaborates.
This statement hints at the exclusivity and potential value of these NFTs.
The market response to this announcement was swift. Previously issued Trump NFTs, which had dipped to as low as 0.1 ether (ETH) – half of their pre-announcement trading price of 0.2 ETH – saw a rebound in their floor prices to around 0.18 ETH, as per data from the NFT marketplace OpenSea.
Interestingly, Trump’s foray into the world of digital collectibles comes despite his previously skeptical stance on cryptocurrencies during his presidency.
He first ventured into this space last year with the debut of the Trump Digital Collectible Cards, which featured images of himself in a style reminiscent of baseball cards. A second series of these collectibles was released this April, with both collections selling out.
In a revealing glimpse into the financial aspect of these ventures, governmental ethics watchdog Citizens for Responsibility and Ethics in Washington obtained documents showing that Trump held $2.8 million in a cryptocurrency wallet as of early August, earnings attributed to his NFT sales.
This latest development in Trump’s post-presidential career marks an intriguing intersection of politics, legal affairs, and the burgeoning world of NFTs and digital assets, drawing attention from both supporters and critics alike.
