According to reports based on financial statements disclosed last year, Donald Trump – the former president of the US – has earned a six-figure income from his crypto investment. This proceeds are as a result of Trump Digital Cards NFT collection. The 2022 financial statement reveals that Mr. Trump made between $100K and $1 million form his NFT collection and related crypto investments. Due to Trumps ambition to run for presidency in 2024, the law requires him to disclose his financial statement.
So, what exactly does the Trump NFT collection entail? In December last year, Trump unveiled his first ever NFT collection. The collection featured Trump digital trading cards with illustrations of the former president in several heroic attires with comic pauses and costumes. For instance, some cards displayed Mr. Trump wearing a space suit and sun glasses while others portray him as a superhero with the ability to shoot laser beams from his eyes.
However, the Trump trading cards had initial skepticism, mostly because he operates in a political arena. The $99 cards from a collection of about 45 000 NFTs went ahead to sell out in less than 24 hours. According to the website responsible for listing these cards, the trading cards experienced a high demand leading to rapid sales. At the time of the listings, Mr. Trump had already declared his bid to run for office in 2024 but the website insisted that the trading cards were in no way intended as a political statement or campaign.
The sale of the cards was managed by NFT INT LLC which entered into an agreement with another company, CIC Digital LLC, to use the Trump’s name and his likeness for the digital trading cards. This collaboration therefore allowed CIC Digital LLC to create and market a unique collection that features the former president and therefore, substantially contributing to Mr. Trumps earnings.
For tech nerds, the Trump NFT collection was created on the Polygon chain and since then, the collection is available on OpenSea, an NFT trading platform. According to data available on OpenSea, the collection has attracted about 13 924 owners with a total trading volume of 13 568 ETH. Of the total collection, only 3% has been listed on OpenSea and includes Gold and Silver autographed cards. The platform has described the cards as incredible art inspired by President Trump’s extraordinary life and career. The platform is therefore offering Trump’s experience in different variations including Cowboy Trump, Astronaut Trump and Business Trump just to name a few.
The popularity of Trump’s NFT collection indicates a growing interest in NFTs. Mr. Trump is a well-known public figure and his entry into NFTs demonstrates the potential of high-profile individuals to capitalize on the nascent industry while creating new revenue streams through their digital collections.
