Donald Trump has made headlines once again, this time in the world of cryptocurrencies. The former U.S. president announced a brand-new collection of non-fungible tokens (NFTs) called the “Mugshot Edition.” This collection is a nod to Trump’s legal troubles and has stirred up prices for his previously issued NFTs.
The “Mugshot Edition” consists of 47 Trump cards, a reference to the fact that if elected next year, Trump would become the 47th U.S. president. Those who purchase 47 cards or more will receive the opportunity to have dinner with the former president at his renowned Mar-a-Lago estate. Additionally, they will also receive a piece of the suit worn by Trump during his mugshot when he was arrested in August.
The official website of the NFT project emphasized the exclusivity of the new collection, stating that some cards will be one-of-a-kind items, while others may even feature President Donald J. Trump’s hand signature. This unique selling point adds to the appeal of the NFTs for collectors and enthusiasts alike.
Prior to the announcement of the new collection, previously issued Trump NFTs experienced a temporary price drop. Some of these NFTs were being flipped for as low as 0.1 ether (ETH), half the price they were trading for before the news. However, floor prices quickly rebounded to around 0.18 ETH, according to data from NFT marketplace OpenSea.
It is worth noting that Trump was not always a supporter of cryptocurrencies during his presidency. In fact, he was initially skeptical of the technology. However, last year he launched his own NFT project called Trump Digital Collectible Cards, featuring images of himself similar to traditional baseball cards. The debut series, as well as a second series released in April of this year, both sold out.
Trump’s foray into the world of NFTs has proven to be highly lucrative. According to official documents obtained by Citizens for Responsibility and Ethics in Washington, the former president held $2.8 million in a cryptocurrency wallet as of early August. These funds were earned from the sales of his NFTs, demonstrating the significant market demand for digital collectibles associated with high-profile individuals.
As the world of NFTs continues to evolve and gain mainstream attention, it seems that Donald Trump is capitalizing on this trend. The announcement of his new “Mugshot Edition” collection has certainly stirred up prices for his previously issued NFTs, indicating a continued interest in his digital assets. Whether or not this interest will be sustained in the long term remains to be seen, but for now, Trump’s NFTs are making waves in the crypto world.