Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the news of President Donald Trump airdropping free NFTs to the attendees of his controversial dinner party back in May.
Trump Dinnerguests Airdropped free Solana NFTs
The infamous Donald Trump dinner party, where the top 220 holders of his official $TRUMP memecoin were invited for an exclusive dinner with the United States President, has struck again as those guests have been the lucky recipients of a Solana-based NFT airdrop. Marketed as a celebration of loyalty to the “Crypto President,” the dinner party saw politics and blockchain come together in what has become a hot topic and point of contention.
The distribution of the NFTs, which were launched via the Solana based launchpad Metaplex, were based on holder participation:
- “Power to the Holders” (1,049 units): Given to users who registered but didn’t attend.
- “Gold Gala Dinner” (219 units): Awarded to those physically present at the D.C. dinner.
- “Diamond Hands” (118 units): Reserved for users who held onto their $TRUMP tokens throughout the dinner event, making it the rarest and most sought-after.
While there is no utility attached to the NFTs, or membership perks or governance rights for that matter, the fact they are scare means there has been a rush for NFT enthusiasts to lay their hands on them. The marketplace Magic Eden had a floor price of 48.15 SOL (~$7,800) for the “Gold Gala Dinner” NFTs while the “Diamond Hands” NFTs were listed with a floor price of 101.7 SOL (~$16,475).
The official TRUMP meme coin X account labelled them as “historic collector’s items that celebrate the Crypto President.”
https://x.com/GetTrumpMemes/status/1929685355554390472
The Solana blockchain seems to be the blockchain of choice for the president. Back in January the $TRUMP memecoin used Meteora, a Solana-based Dynamic Liquidity Market Maker (DLMM), to launch. It was also used for $MELANIA, a memecoin tied to the First Lady. With these latest NFTs being deployed via Metaplex it once again shows the preference for Solana. Not all are happy with this move as $TRUMP memecoin holders are less enthusiastic. The token only managed to gain 2.61% on the day of the announcement and this brought its market cap to $2.3 billion, now the fourth-largest memecoin.
The token is down 64.6% from its all-time high of $75.35 back on January 19. It has been a drastic correction and caused much frustration among holders. Some have voiced concern over the exclusivity of the NFTs, suggesting that they only serve a select few. One holder even voiced concerns on 'X' where they proposed a 1-year token lock for all the vested tokens while also applying a 50% burn, urging the developers to “Do it for the community!”
https://x.com/Ace_All_In/status/1929687866977783902
This NFT airdrop is unlikely to benefit anyone bar the already richest members of the community. The gala dinner associated with this airdrop took place back in May and was open to the top 220 holders of the official meme coin. During the event more than 100 demonstrators protested about the dinner and called for the end of 'crypto corruption.' There is a feeling among high-ranking U.S. Democrats that events such as this could open the door to foreign actors to purchase political influence via the meme coin. There have been interesting snippets which emerged from the dinner, with some guests disappointed by the absence of one-on-one Trump time and appalled by the “cheap steak” that was served while others were delighted to be in the presence of the president.
The ethical concerns around Trump’s crypto ambitions were brought to light due to reports that the $TRUMP memecoin campaign generated around $148 million and funnelled the proceeds toward Trump and close partners. The intersection of politics and cryptocurrency continues with this distribution of NFTs. These unique digital collectibles have certainly gained attention in the market, but the fact they are exclusive to the most influential token holders continues to raise questions over the ethical nature of the president being involved in crypto.
Have a great day.
Peace. CryptoGod-1.
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