Earlier this week, Donald Trump took to Truth Social to tease a “major announcement,” leaving his audience pondering what it might be, particularly after the former president announced a third presidential run. Was he going to announce a campaign tour? Perhaps a run for House speaker? Certainly not, that would be preposterous!
Instead, Trump on Thursday unveiled a ‘Donald Trump Digital Trading Card Collection,” a set of NFTs depicting his face on cartoon superhero bodies such as a sheriff, fighter pilot, or an astronaut, which supporters can buy for $99 each. For those utterly devoted fans willing to purchase 45 pieces from the collection for a pretty $4,455, will receive a voucher for a free dinner with the self-absorbed former president.
According to NFT INT LLC’s website— the company offering the digital trading cards, the NFTs are not linked to Trump’s presidential campaign, nor is the firm connected to him in any way. Trump does, however, receive a premium for the use of his depiction and name, as per a licensing agreement.
The most cringe-worthy— and perhaps the saddest— part about Trump’s digital trading card collection is that its unveiling comes during the heart of a crypto winter. The demand for anything digital currencies has dried up dramatically over the past several months in wake of numerous embarrassing collapses, most prominent being Sam Bankman Fried’s FTX empire. According to data from crypto tracker Dune, November’s trading levels on NFT trading platform OpenSea fell to the lowest since June 2021.
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Trump’s latest attempt at making a comeback follows his November 15 announcement to “Make America Great Again,” and reclaim the White House come the next presidential election. However, the former president’s bid to win over voters has been marked by one flop after another, such as a poor Republican turnout during last month’s midterm elections, an ill-thought-out public dinner with anti-Semitic guests, and a growing voter diversion towards rival Florida Governor Ron DeSantis.
Information for this briefing was found via Twitter and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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Why is Trump allowed to sell unregistered securities?