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Former US president Donald Trump allegedly earned a six-figure income via his Trump Digital Cards NFT collection, as indicated in his financial disclosure submitted in 2022. Based on the past year’s financial disclosure form published by the regulator group Citizens for Responsibility and Ethics in Washington (CREW), Donald Trump made between $100,001 and $1 million from his recent nonfungible token-related ventures.
Trump, who is, for now, a leading contender for the Republican presidential nomination in 2024, needed to file that financial disclosure form as part of his candidacy for the federal office.
Trump’s NFT Collection
In December 2022, Trump introduced his first-ever NFT collection. The collection consisted of digital “trading cards” that portrayed cartoon illustrations of the former president in various heroic costumes and poses.
One card, for example, showed Trump wearing sunglasses and a space suit, while another showed him as a superhero with the ability to shoot some deadly laser beams from his eyes.
Despite the initial doubts that surrounded the $99 cards, even among some of Donald Trump’s supporters, this collection of 45,000 NFTs sold out within 24 hours. Notably, the website that hosted the listing of the NFTs reported quick sales and increased demand for digital trading cards.
At the time of the NFT release, Trump already had confirmed his intention to run for president in the 2024 election. Nevertheless, the website selling these cards took caution to insist that the digital trading cards were not in any way intended as political statements and were not linked with any political campaign.
The sale of these cards was managed by NFT INT LLC, which is a firm that entered into a paid licensing agreement with CIC Digital LLC to utilize Trump’s name and likeness for the digital trading cards. This partnership enabled NFT INT LLC to develop and market the distinct collection comprising of the former president, eventually contributing to Trump’s considerable earnings from the venture.
The Takeaway
The increased popularity of Trump’s NFT collection reflects the ever-growing interest in nonfungible tokens. Being a well-known public figure, Trump’s entry into the world of nonfungible tokens shows the potential for high-profile people to capitalize on the emerging market and generate considerable revenue via their distinct digital creations.
As with any investment, it’s important to carefully consider the risks and potential rewards before investing in Trump’s NFT collection. NFTs are a relatively new and speculative investment, and their value can be volatile and unpredictable. Additionally, the controversial nature of Trump’s presidency and his ongoing legal and political issues may also affect the value of his NFTs.
If you are considering investing in Trump’s NFT collection, it’s important to do your research and understand the risks involved.