President Donald Trump is set to release a fourth NFT collection titled “America First Edition”.
After the uneven reception to his first three NFT collections, former US President Donald Trump is about to release his fourth collection. Trump showcased the artwork, which features images of him dancing and clutching Bitcoins, in a promotional video released on August 27 to introduce the new collection, named “America First Edition”.
Republicans have been backed by the industry in the meantime, since the party revised its platform to include language that is pro-crypto.
Ripple donated $1 million to the Commonwealth Unity Fund on May 15 to support John Deaton, a pro-crypto candidate challenging Senator Elizabeth Warren in the upcoming Republican primary.
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— CollectTrumpCards (@CollectTrump) August 27, 2024
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Trump’s Latest NFT Gamble: Can It Outshine His Previous Collections?
The $99 NFTs that Trump has released recently are created on the Ethereum scaling network Polygon. It is possible to produce as many as 360,000 cards.
With 44,000 and 46,000 NFTs sold out in two previous collections and 100,000 cards (seen as only half sold), this would make it the largest Trump NFT set to date.
Access to a September Trump gala dinner and a piece of the suit Trump wore during his June debate with President Joe Biden are among the special benefits available to large purchasers.
Trump emphasized the accomplishments of his previous NFT endeavors, which quickly sold out and attracted a lot of interest from the cryptocurrency community, in an interview with Bloomberg Businessweek published in July.
Trump now recognizes the global significance of cryptocurrencies, having previously called them a “fraud” and a “disaster waiting to happen.”
“I did things like NFTs… We had one year to sell it out, and it sold out in one day,” he said, noting that 80% of sales were in crypto.
Also, he issued a warning: if the United States rejects cryptocurrencies, nations like China may end up controlling the market.
The deadline for reselling the most recent Trump NFTs on secondary markets is January 31, 2025. The company that is licensed to use Trump’s branding and images, NFT INT LLC, will handle the sale’s proceeds. Trump’s presidential campaign will not benefit from it.
Trump’s NFT Collections: Why the Recent Spike in Value Could Signal a Major Trend Shift
The announcement coincides with a recent attempt on Trump’s life at a rally in Pennsylvania, which has led to a surge in the value of his NFTs.
According to data from Magic Eden, Trump’s first NFT collection has doubled in value. It is now priced at $452 on the secondary market, up from $225, but is below its all-time high of $769 from February 2023.
Trading activity on platforms like OpenSea has also surged. In the past week, 272 Trump NFTs were sold, generating 32.27 ETH (approximately $111,000) in trading volume.
Trump’s second NFT collection has grown even more significantly, reaching 13.52 ETH in trading volume on OpenSea, a 632% increase. Despite the momentum, the floor price is around $66, 30% below its peak of $93.
Nevertheless, the “Mugshot Edition,” Trump’s third collection, which debuted in December 2023, did not sell out. Between March and May, no sales were documented, and the typical floor price was approximately $100.
Apart from his NFT endeavors, Trump’s campaign has welcomed contributions in cryptocurrency. The Federal Election Commission (FEC) reported that about $3 million of the $331 million raised by Trump’s campaign last quarter came from crypto donations, underscoring the growing role of digital assets in politics.