Donald Trump is gearing up to release his fourth NFT collection, dubbed “America First Edition.”
Date: 2024-08-28 Author: Henry Casey Categories: CRYPTO PAYMENTS
The industry continues to support the Republican Party, especially after the party updated its platform to include provisions in support of cryptocurrency. For example, Ripple donated $1 million to the Commonwealth Unity Fund on May 15 to support John Deaton, a crypto-friendly candidate challenging Sen. Elizabeth Warren in the upcoming Republican primary.
The new Trump collection will sell for $99 per NFT, and up to 360,000 cards could be minted on the Polygon blockchain. This would be the largest release of any of his collections. Buyers of large quantities of NFTs will receive exclusive bonuses, including an invitation to a gala dinner with Trump in September and a piece of the suit he wore during a debate with President Joe Biden in June.
Despite his previous criticism of cryptocurrencies, Trump now acknowledges their global importance, noting the success of his previous collections, which quickly sold out. However, the new NFTs cannot be resold on secondary markets until January 31, 2025. Proceeds from the sale will be managed by NFT INT LLC, which holds the license to use Trump’s image.
The announcement of the new collection coincided with a surge in the value of previous Trump NFTs. For example, the first collection doubled in value on the secondary market, reaching $452, although it was worth more at $769 in February 2023. There has also been an increase in activity on marketplaces such as OpenSea, where trading volumes for the second Trump NFT release have increased significantly.
The third collection, released in December 2023, was not as successful and did not sell out completely. In addition to its NFT projects, the Trump campaign is actively accepting cryptocurrency donations, highlighting the growing role of digital assets in politics.
