Donald Trump's NFTs to Debut on Bitcoin Network
Date: 2024-01-19 Author: Dima Zakharov Categories: BUSINESS
Trump's New NFT Collection on Bitcoin
In an exciting development, the team behind Trump's collectible trading cards is launching another set of unique NFTs. However, unlike their previous release on the Polygon blockchain, these new NFTs, known as "ordinals," will be exclusively available on the Bitcoin network.
Each "ordinal" is priced at nearly $10,000, and a total of 200 unique NFTs will be minted. Access to these NFTs will be granted only to those who purchase 100 or more editions from Trump's previous collection, the Mugshot Edition. This means that acquiring a single "ordinal" from Ordinals will cost users $9,900 since the Mugshot Edition tokens featuring the presidential candidate's images are sold for $99 each.
Stimulating Sales with Bitcoin
Trump's last NFT collection was launched in December on the Polygon blockchain. Buyers could acquire these tokens directly with a credit card or using "wrapped" Ethereum (WETH). The introduction of Ordinals on the Bitcoin network is likely an effort to boost sales of the Mugshot Edition.
Trading and transferring these "ordinals" will be restricted until December 2024. The same applies to users who purchased NFTs from the Mugshot Edition collection. This measure is designed to limit the attractiveness of these tokens as "investment assets."
Trump's Crypto Journey
Donald Trump ventured into the world of NFTs back in December 2022 when he released his first collection, Trump Digital Trading Card. A second collection followed in April of the following year, but it did not achieve the same level of success as the first one. Nevertheless, both collections helped Trump earn up to $1 million.
In August, just before Trump faced legal charges, sales of NFTs from his collection surged by 160% in one week, with the number of sales increasing by 155% during the same period.
It was also revealed earlier that the former U.S. president holds approximately $500,000 in cryptocurrency. Despite his reservations about digital assets in the past, he has become a notable figure in the crypto space.
Disclaimer:
All information presented on our website is published in the spirit of fairness, objectivity, and for informational purposes only. Readers are solely responsible for any actions taken based on the information obtained from our website.
