Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. Today I will be doing a quick write up on the recent announcement by Trump regarding his NFT collection, and the backlash he has received for his efforts.
Donald Trump and his "major announcement"
Donald Trump, the former president of the United States of America, had a very over hyped announcement which many of his supporters and followers believed was going to be associated with his intention to run once more for the presidency in the next elections, or as a candidate to become speaker of the House. However, that was not to be the case. Instead, on Wednesday the 14th of December he launched a video announcing an NFT collection based on the former president and his achievements in life. Within the collection are some "interesting" images to say the least, from a superhero, a stock trader, a golfer, and a hunter. Interesting scenes to say the least, and although some could argue they do represent different parts of his career, it is still a bit much considering the superimposed "image" of Trumps face on each character.
You can view the announcement video here:
The NFT Collection
Available from his own website, collecttrumpcards.com, the collection consists of 45,000 Trump trading cards included in the initial series. That's right, a whopping 45,000!! Most new NFT collections consist of 10,000 as a standard, but Trump likes to be different. It is also safe to assume there will be more series to follow on from this one.
Each Trump card costs $99, and with every purchase the buyers are entered into a sweepstakes in which they can win prizes. There are hundreds of card types available, but while this sounds like a nifty idea, the price is, at first glance, extremely high. With a collection of 45,000 this would equate to a potential of $4,455,000 in revenue. A staggering though for a man who already has more wealth than most could dream of.
Every Trump card in the collect contains a unique pre-assigned rarity. On top of that, some of the cards will be one-of-one editions, while others will be limited to 2, 5, 7, or 10 copies. They also note that no Trump Digital Trading Card will have more than 20 copies in existence! This is supposed to give some sort of collectors rarity to the cards as you could potentially own the only one in existence.
It is also important to note that there is no guarantee that any of the Trump NFTs will ever be worth any real money, but if any were to increase in price, it would of course be the rare ones.
Upon the announcement of his NFT Collection, Trump stated:
"Would make a great Christmas gift, don’t wait. They will be gone, I believe, very quickly!"
In terms of the prizes as part of the sweepstakes three are a range of potential wins, from signed memorabilia to a one-on-one Zoom call with the former president, and anyone who buys up more than 45 cards is guaranteed a ticket to attend a South Florida “gala dinner” with Trump. These are certainly appealing for the biggest of Trump fans out there.
Below is a selection of some of the NFTs which could be purchased.
Unlike traditional NFTs, which require a wallet in Web3, Trump and his team have decided to focus on their audience and make it accessible via email. Users just have to have an email address to store their Trump Cards. From that they can choose the number of Trump Digital Trading Cards they want and purchase with a credit card. Purchasers can then log into their wallet with their email address to see which cards they received. Simple, and for a reason. I can imagine many who would be interested in these kind of things would be from an older generation, at least that is my opinion, and this ensures ease of access for them.
Backlash & Sales
There has been, as is often the case with the endeavours of Donald Trump, quite the backlash. Many find it hilarious that Trump brought out NFTs, and the manner in which he did so via a video of him ripping off his shirt to reveal a superhero outfit. This is amplified by the fact many believed the big announcement would be of a presidential bid. There has been many Tweets regarding the video and the collection, with just one particular one below highlighting the harsh reality of what people think.
Others have labelled it "pathetic" by the former president, especially as he claimed to have been a better president than Lincoln, and a sign he's "losing the plot."
However, according the the collecttrumpcards.com website, the collection is already Sold Out! Since then, according to Opensea data, the collection’s floor price is about 0.19 ETH, or $230. This means it has already more than doubled in value since the launch. On top of that the one-of-ones, the rarest of the NFTs, which comprise 2.4% of the 45,000 unit collection, have sold for around 6ETH or $7,200. Staggering prices, with one NFT of Trump standing in front of the Statue of Liberty holding a torch currently listed at 20 ETH, or about $24,000. Not a bad return on investment if it sells, and one can only wonder what a pretty amount of additional money Trump has received in secondary sales royalties.
If I am certain of one thing, its that Trump will not care for the backlash. He has always been criticised over his actions in life and it has never deterred him. Also I imagine there will be a presidential bid announcement down the line, but for now, he is happy to make more money off his fanbase. One way or another, Trump will be laughing all the way to the bank.
Have a great day.
Peace. CryptoGod-1.
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