Former President Trump hints at new NFT series, stresses need for US leadership in crypto Former President Trump hints at new NFT series, stresses need for US leadership in crypto
President Trump's three NFT collections have experienced mixed success since their launch.
2 min read
Updated: Jul. 17, 2024 at 10:44 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Former US President and Republican Presidential Candidate Donald Trump has hinted at the possibility of launching a new NFT collection, following the success of his previous ones.
In an interview with Bloomberg Businessweek, Trump highlighted the strong demand from his supporters for more digital assets. This demand could influence his decision to release a new collection. He stated:
“We had one year to sell it out and it sold out in one day. The whole thing sold out: 45,000 of the cards. And I did it three times [and] I’m going to do another one, because the people want me to do another one.”
Over the past few years, Trump has launched three NFT collections, generating both success and criticism from the community.
His first NFT collection, launched in December 2022, received much acclaim but experienced significant value losses, similar to his Series 2 collection launched in April 2023 and the Mugshot edition in December 2023.
These projects have also faced broader complaints. Early reports suggested that the company controlling the project reserved several NFTS for the team. It was also alleged that many card designs plagiarized stock images from popular websites like Amazon.
Meanwhile, Trump mentioned that his involvement in NFTs changed his views about the crypto industry. He said:
“I did things like NFTs and, you know, stuff. And I noticed that 80% of the money was paid in crypto. It was incredible…The thing I really noticed was everything was paid in—I would say almost all of it was paid in crypto, in this new currency. And it opened my eyes.”
Reports from last year indicate that Trump has earned around $5 million from his NFT collections.
Maintaining US crypto dominance
Trump explained that his pro-crypto stance aims to position the US as a leader in the industry.
He believes the industry is young and here to stay, making government intervention essential. He emphasized the importance of not letting another country take the lead.
Trump said:
“If we don’t do it, China is going to pick it up and China’s going to have it—or somebody else, but most likely China. China’s very much into it. Also, it’s not going away. It’s amazing.”
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Donald John Trump was born on June 14, 1946, in Queens, New York City.