Former U.S. President Donald Trump has caused a buzz in the crypto community with his Series 4 Non-Fungible Token (NFT) trading cards launched on August 27. According to Polygon scan data, these polygon-based NFTs have impressively raked in more than 22,000 sales.
Based on the mint price of $99 per NFT, the digital products are valued at over $2.17 million. This represents only 6% of the total possible supply of 360,000 NFTs. If all NFTs in this series are minted, the total revenue will exceed $35 million.
It is worth noting that Trump’s fourth NFT collection, which includes his different poses and costumes, is unavailable for trading in the secondary market. It is slated to go live in the market by January 2025.
Trump Rides the NFTs Waves
Trump has been quite bullish on crypto assets, especially NFTs, which is a positive shift from his previous tough stance. He now receives campaign donations in cryptocurrency and even interacts with crypto executives. As the NFT market evolves, Trump’s foray into this space showcases his adaptability and understanding of current trends.
The various NFT series featuring Trump allow him to capitalize on the growing popularity of digital collectibles. They also provide him with a new revenue stream and a way to engage with his supporters. In addition, they provide investors with a wide array of digital investments, bringing more attention to the digital asset space.
Remarkably, various industries such as Lamborghini, Meebits, and Lacoste, amongst others, have delved into the NFTs market by creating their digital collectibles.
Trump’s Previous NFTs Collection Gains Massive Inflows
Trump’s NFT collection has performed well in the digital market so far, with a mix of gains and losses for buyers and minters. His first set of digital collectibles, which debuted in December 2022, saw significant gains. The first NFTs’ floor price went up by 100%.
However, the subsequent collections experienced losses for minters regarding floor price. Despite these fluctuations, Trump has reported earnings exceeding $7 million from his NFT collections. This showcases the success and profitability of his venture into the NFT market.
Trump’s Crypto Embrace Aids His Presidential Campaign
Trump’s embrace of crypto has resonated positively with his supporters. It reflects his forward-thinking approach and understanding of the digital economy. He positioned himself as the crypto president in June while conducting his 2024 presidential campaigns.
Beyond endearing him to the crypto community, Trump’s crypto stance has gained him support from pro-crypto individuals like US Senator Bill Hagerty and many others. Trump’s bullish stance has potentially broadened his support base by drawing in individuals keen on cryptocurrency and blockchain tech.
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