Donald Trump's latest NFT collection, titled 'Trump Bitcoin Digital Trading Cards,' just launched its first batch with 160 pieces on the Bitcoin network through the Ordinals protocol.
Buyers who own 100 cards from the 'Mugshot Edition' can claim on the NFT marketplace Magic Eden after connecting their Bitcoin wallet.
Trump's NFT Collection Available on Magic Eden
Trump announced this collection in January 2024, consisting of 200 cards, with 40 additional pieces expected to be released later. This is Trump's first NFT project on Bitcoin, although he had previously participated in other NFT projects.
His previous collections, such as 'Trump Digital Trading Cards,' included editions like 'America First' launched in August 2024. This edition offers perks such as themed gold sneakers and meals with Trump.
Despite initial interest, the 'America First' series has yet to see any trading activity. Recent sales of Trump-themed NFT products have also been unstable.
However, the newly launched NFT product on Bitcoin Ordinals may trend differently. As of the time of writing, 29% of the collection has been released.
Trump's NFT Collection on Bitcoin Ordinals. Source: Magic Eden
In 2024, the NFT market recorded $8.8 billion in sales, reflecting an increase of $100 million compared to 2023. Ethereum and Bitcoin led the industry with $3.1 billion in sales each, while Solana ranked third.
Collections like Pudgy Penguins dominate this space, generating $115 million in sales. Innovation also comes from platforms like Magic Eden and Pudgy Penguins, both of which introduce their own Tokens.
OpenSea, the leading NFT marketplace, is rumored to follow the trend by releasing a Token in 2025.
However, many challenges remain. Kraken shut down its small NFT marketplace in November to prioritize other projects, giving users a deadline of February 27, 2025, to withdraw their assets.
Market oversaturation remains a concern, with 98% of NFT collections showing little or no trading activity. Only 0.2% of new releases are profitable, and most collections lose more than half their value within days. Although there were signs of recovery in the NFT market by the end of 2024, broader issues indicate a decline in speculative trading activity.