There was a lot of hype surrounding the former president’s “major announcement” on Thursday—hype that turned out to be misplaced.
In the end, the charismatic ex-President revealed a set of digital trading cards (NFTs). One card featuring the President’s face on poorly edited photos is priced at $99. Several dozen depictions of Trump are available.
The announcement even drew mockery from Trump supporters, in and out of the political field. Some even vowed not to get caught up in the future politician’s schemes.
Non-fungible tokens, or NFTs, are digital art and collectibles that can only be purchased with cryptocurrencies. These tokens became hugely popular in 2020 as famous celebrities endorsed them on TV and social media.
The crypto market has been going through a “winter” lately, with much lower prices for NFTs. In fact, 2022 saw the total market value of crypto decrease by more than two thirds, according to Coinmarketcap.
The fall of major crypto exchange FTX and its founder Sam Bankman-Fried has been the grim ending to crypto’s 2022 year.
Although Trump is obviously involved in this venture, the ex-President has licensed his name to a company called NFT INT LLC, which is currently selling “The Trump Card Collection.”
Currently, The Trump Digital Trading Cards website claims to be “sold out” and the floor price for a single card has risen to $177.99 on NFT marketplace, OpenSea, according to CoinGecko.
