Replicating past achievements in the non-fungible token (NFT) space, Donald Trump launched a second batch of his “Collect Trump Cards” yesterday — an instant sell-out.
Quick Takes:
- Trump’s second NFT collection, following a successful first batch despite controversies, sells out rapidly.
- All 47,000 Trump Cards sold for $99 each, despite a select few accompanying digital autographs.
- Additionally, Trump’s digital trading cards feature various themes. Those purchasing 47 cards can also attend a Mar-a-Lago gala with the former U.S. president.
Success Behind Trump’s Newest NFT Collection
The second batch of Donald Trump NFTs consisting of 47,000 NFTs minted on Ethereum’s sidechain network, Polygon, sold out almost immediately yesterday.
Although Donald Trump’s new cards provide fewer perks this time, including no Zoom calls with collectors or in-person meet-and-greets like before, all NFT cards sold out quickly at $99 a pop.
One of the reasons is the former president giving those acquiring 47 digital trading cards a ticket to a gala dinner with himself at his Mar-a-Lago golf club in Florida. Similarly to his last drop, some cards also include a digital autograph.
Following the history of his first batch, many digital trading cards expect to be purchasable at high prices, for financial gain, on secondary marketplaces.
Trump shared his thoughts on his new NFT debut through his Truth Social platform, emphasizing well-known topics such as “fake news” and his perceived benevolence towards supporters, commenting:
“I hope everyone notices, [and] I’m sure the Fake News won’t, that I’m leaving the price of the Trading Cards the same as last time, even though they are selling for MANY TIMES MORE (It’s called the MARKET!). They sold out almost immediately, because I want my fans [and] supporters to make money, [and] have fun doing it.
“I could have raised the price MUCH HIGHER, [and] I believe it still would have sold well, with a lot more money coming to me, but I didn’t choose to do so. I WILL BE GIVEN NO ‘NICE GUY’ CREDIT?”
Trump’s past NFTs built upon the theme of Trump being depicted as a cowboy, superhero, astronaut, and other larger-than-life roles. The new Donald Trump NFTs feature Trump as a hunter, wearing firefighter gear, carrying a pro wrestling championship belt, etc.
History Behind Trump Trading Cards – Controversies
The first release of Donald Trump’s NFTs was largely ridiculed as a money-making scheme over wash trading activities and criticized for copyright artworks.
All 44,000 NFTs showcasing former president Donald Trump sold out rapidly. Many sold for thousands on secondary marketplaces months later, mainly in March.
Consequently, a recent report by the U.S. Office of Government Ethics states that Trump’s first lot of digital trading cards generated around $500k to $1m in revenue.
The report also asserts that wallet holders of Trump NFTs are declining. However, trade profits for the members are significantly increasing.
Both trading card collections demonstrate the former president’s ability to generate significant revenue within the NFT space.
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